5 Fen Chinese Soviet Republic

The Hubei-Honan-Anhui Soviet Area — known as the Oy-Wan or E-Yu-Wan base — was one of the largest communist-controlled territories in early 1930s China, at its peak housing several million people under Red Army administration. Chiang Kai-shek's fourth encirclement campaign was already closing in when this coin was struck in 1932; the base would be largely overrun by late that year, forcing the surviving forces into the precarious westward movement that preceded the Long March.

Coins from E-Yu-Wan are meaningfully scarcer than those of the Central Soviet in Jiangxi, reflecting both the shorter effective minting window and the chaos of the military collapse.