1 cent 1940
About This Note
This is a VF-graded 1 Cent note from the Central Reserve Bank of China, issued in 1940 (Republic of China Year 29). The note features distinctive pink/magenta coloring with ornamental corner medallions and fine engraving throughout. The reverse displays a traditional Chinese fortified gate or wall structure, making this an attractive example of early Chinese fractional currency with excellent eye appeal despite age-appropriate toning and foxing.
Common. The Central Reserve Bank issued extensive quantities of fractional currency in 1940, and small denomination notes typically had large print runs to facilitate commerce. While age and condition naturally limit surviving examples in fine grades, the Pick catalog recognizes this as a standard catalogued issue (P-J1a) without notation of limited issuance or rarity. The VF condition grade is desirable but does not indicate rarity of the underlying note type.
Issued during the Second Sino-Japanese War period, this fractional cent note represents the Central Reserve Bank's attempt to maintain stable currency circulation in wartime China. The fortified gate depicted on the reverse symbolizes Chinese architectural heritage and defensive strength, while the bilingual English-Chinese inscriptions reflect the republic's international economic standing. This small denomination was essential for everyday transactions in 1940s China.
The note employs a symmetrical classical design typical of early 20th-century Chinese currency. The front features ornamental corner medallions (likely containing stylized dragons or imperial symbols) connected by wreath-like borders framing the central denomination. Fine guilloché patterning and cross-hatching provide anti-counterfeiting security engraving throughout. The reverse showcases a landscape engraving of a traditional Chinese fortified gateway or wall structure (possibly representing a significant historical fortification) flanked by vegetation, enclosed within matching decorative corner seals and ornamental borders. The cream/off-white paper with pink/magenta overprinting creates a sophisticated two-color appearance.
FRONT: English text reads 'THE CENTRAL RESERVE BANK OF CHINA' and 'ONE CENT' / '1 CENT' with serial number 'B092817S' and printer attribution 'WATSON PRINTING COMPANY'. BACK: Traditional Chinese characters read '中央儲備銀行' (Central Reserve Bank), '中華民國二十九年' (Year 29 of the Republic of China / 1940), '壹分' (One cent), and '票面造價按照定章' (Denomination follows established regulations).
Intaglio engraving (line engraving and guilloché work) executed by the Watson Printing Company. The fine line work, cross-hatching patterns, and ornamental guilloché designs characteristic of security printing are clearly visible throughout both sides, indicating professional steel-plate engraving typical of currency production during this era.
This example corresponds to Pick catalog P-J1a, the standard 1 Cent issue of 1940. The serial number prefix 'B' may indicate a printing block or series designation. According to PMG population data, six variants exist for the base Pick number J1, suggesting multiple printings or series exist. The Watson Printing Company attribution and English-Chinese bilingual design are consistent with P-J1a specifications. No overprints or special signatures are noted on this example.
