5 Dollars Provincial Bank of Kwangsi

The Provincial Bank of Kwangsi was established under the Nationalist-aligned Guangxi Clique — the political-military faction led by Li Zongren, Bai Chongxi, and Huang Shaohong — who effectively ran Guangxi as a semi-autonomous regional power during the late 1920s. Commissioning the American Bank Note Company for this series was a deliberate signal of institutional credibility at a moment when the Clique was maneuvering for legitimacy both within the KMT structure and against it.

The ABNC contract placed production firmly in New York, though the notes circulated only within Guangxi province. Pick reference S2322 places this in the specialized China provincial issues, a category where survival rates vary sharply — Guangxi saw heavy disruption through the early 1930s Japanese incursions and subsequent Communist-Nationalist fighting.