20 Cents

The Bank of Hopei was a provincial bank operating under the Nationalist government's increasingly fractured financial system of the late 1920s, when regional institutions still issued their own paper currency with minimal central oversight. The 20-cent denomination served everyday retail transactions in a province where metallic small change was chronically short — fractional notes like this one did real work in local markets.

Printed in Tianjin, which hosted several Chinese printing operations during this period. Hopei provincial notes of this era are frequently found with heavy fold wear, reflecting genuine circulation rather than vault storage.