1 yuan 1936

Common. Despite its age and historical significance, eBay sales data demonstrates consistent availability across multiple condition grades over the past decade, with prices generally ranging from $2 to $125 depending on condition grade (PMG grade correlation). UNC examples, while at the premium end of the market, regularly sell in the $20-113 range. The 2016 catalog value of $10 for UNC further confirms this is a widely available note. Large print runs by the American Bank Note Company and the survival of many examples indicate this was not a scarce issue.

Issued during the tumultuous period of the Republic of China under the Nationalist government, this 1936 note represents the Central Bank's attempts to establish modern, internationally-recognized currency standards during a period of political fragmentation and Japanese military expansion. The bilingual English/Chinese inscriptions and American Bank Note Company printing reflect China's engagement with Western banking practices and the significant role of foreign financial institutions in Chinese monetary affairs during the pre-Communist era. The date marking and Shanghai location underscore the importance of treaty ports in China's financial system during this transitional period.

The obverse features a highly symmetrical, ornate design centered on an elaborate medallion containing a dragon or phoenix motif rendered in traditional Chinese artistic style, surrounded by complex geometric guilloche patterns and floral scrollwork in blue and red/orange inks. Corner elements display stylized Chinese characters or emblems. The reverse presents a formal three-quarter portrait of a male figure with distinctive mustache and defined facial features, positioned within an intricately engraved oval frame. This figure likely represents a senior official of the Central Bank or the Nationalist government, though not positively identified from the visual analysis. The surrounding design incorporates ornate corner decorations featuring the numeral 10, elaborate scroll and cloud motifs consistent with traditional Chinese decorative art, and fine-line geometric security patterns throughout. The overall aesthetic represents a deliberate fusion of Western Art Deco design principles with traditional Chinese artistic elements, reflecting the modernization agenda of the Nationalist period.

FRONT: 中央銀行 (Central Bank) | 拾圓 (Ten Yuan) | 中華民國十四年 (Republic of China, Year 14 [1925]) | 上海 (Shanghai) | Serial number: $X006888MH (appears twice). BACK: THE CENTRAL BANK OF CHINA | 10 PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE 10 | TEN DOLLARS | NATIONAL CURRENCY | SHANGHAI | 1928 | ASST. GENERAL MANAGER | AMERICAN BANK NOTE COMPANY. Note: There is a discrepancy between the front date (Year 14 of the Republic, corresponding to 1925) and the back date (1928), and between the denomination markings (拾圓/Ten Yuan on front, TEN DOLLARS on back), which are characteristic of this issue's transitional design.

Intaglio engraving (recess printing) by American Bank Note Company, as indicated on the reverse. The intricate guilloche patterns, fine line work, elaborate portrait detailing, and multi-color security printing are all characteristic of high-security intaglio production. The printer W&S (likely watermark or variant designation) is noted for this Pick number. The complex multi-color application in both blue/red and green inks demonstrates sophisticated security printing techniques of the period.

The specific Pick variety is P-216a (W&S printer). The PMG population report indicates three cataloged variants exist (P-216a, P-216c, P-216d), suggesting differences in printer marks, overprints, or design details distinguish these varieties. The serial number format ($X006888MH) and bilingual date discrepancy (Year 14 front vs. 1928 back) are consistent with this specific variety. Further detailed comparison with P-216c and P-216d would be necessary to confirm minor variety distinctions, but all three represent the same denomination and general design from the 1936 issue period. The note bears the characteristic features of the standard Central Bank 1 Yuan design of this era.