5 Chiao

The Mengchiang Bank was established in 1937 under Japanese military occupation to serve the puppet state of Mengjiang in Inner Mongolia — a territory carved out specifically to exploit the region's coal and wool resources. Its notes were the compulsory replacement for Chinese Nationalist currency, and their acceptance was enforced rather than earned.

The J-prefix in the Pick reference signals the wartime occupation series. Notes of this denomination and period are frequently found with fold fatigue; the lighter fractional issues circulated hard in local markets where small transactions dominated daily commerce.