1 yuan 1926
Market Prices
About This Note
This is a 1 Yuan banknote issued by the Provincial Bank of Chihli (Zhili) in October 1926, representing an important regional currency from China's early Republican period. The note features striking purple/mauve coloring with an ornate central design depicting a traditional Chinese fortification gate, flanked by torch-bearing roundels, and displays both Chinese and English inscriptions reflecting the cosmopolitan nature of Tianjin commerce. In VF condition, this well-circulated example shows expected aging with creasing, foxing, and faded coloration, yet retains its intricate engraved details and official authentication chop mark.
common. While regional Chinese banknotes from the 1920s can have limited surviving populations, the eBay market data shows VF examples of this specific Pick number trading at $2750 USD, which represents an outlier among the listed prices (most other grades range from $12.95 to $780). This suggests either: (1) the particular VF example listed commands a premium due to exceptional eye appeal or provenance, or (2) VF examples are genuinely scarcer. However, without evidence of a notably small print run, historical recalls, or short-lived issuance period for the Provincial Bank of Chihli's 1 Yuan notes, and given that examples exist across multiple condition grades on the market, this issue should be classified as uncommon to scarce rather than rare. The apparent market activity supports scarcity relative to modern notes but not extreme rarity.
The Provincial Bank of Chihli was established as a regional issuing authority during the fragmented warlord period of the Chinese Republic, when various provinces and municipalities issued their own currencies. The October 1st, 1926 date places this note during the Northern Expedition, a period of significant political and military upheaval in China. The bilingual English and Chinese text reflects Tianjin's status as a treaty port and international commercial center, while the fortified gate imagery symbolizes the region's historical importance and defensive heritage.
The obverse (front) features a centrally-placed crenellated fortification gate with multiple tiers and towers, representing traditional Chinese military architecture and regional pride. Two symmetrical decorative roundels positioned on either side display torch or flame symbols with the character '圓' (yuan), serving as ornamental security elements and denomination indicators. The reverse (back) presents a formal arrangement with a central circular medallion containing the numeral '1' surrounded by elaborate floral or botanical ornamental roundels. An official purple stamp or chop mark appears in the upper left of the reverse, indicating bank authentication and control. Both sides are framed by intricate decorative borders with corner ornaments in orange/rust and blue tints, emphasizing the note's official status and security features.
FRONT: Serial number 0218773 (repeated left and right); '真直省銀行' (Provincial Bank of Zhili, read right to left); '津天' (Tianjin); '中華民國十五年印月' (Printed in the 15th year of the Republic of China, corresponding to 1926). BACK: 'PROVINCIAL BANK OF CHIHLI' (English header); 'ONE YUAN' (English denomination); 'TIENTSIN' (English city name); 'PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE ONE YUAN LOCAL CURRENCY' (English promise clause); 'OCTOBER 1ST 1926' (English issue date); Signatures of 'Yuan Ho Ma' and 'Glebang' (left and right officials); Additional Chinese characters at bottom confirming denomination and issuer.
The banknote was produced using intaglio engraving (steel plate engraving), evidenced by the fine line cross-hatching, intricate filigree work, and complex decorative border patterns visible throughout. The consistent, detailed line work in both the architectural imagery and background elements is characteristic of high-security engraving. The precise reproduction of the torch symbols, botanical details, and border ornamentation indicates professional security printing typical of early 20th-century Chinese provincial bank issues. The application of the official chop mark appears to have been added post-printing, likely by hand stamp.
This example is identified as Pick S1288a, indicating it is the primary variety of the Provincial Bank of Chihli 1 Yuan 1926 issue. Serial number 0218773 is visible. The official purple chop mark in the upper left of the reverse appears consistent with authentication marks used by the Provincial Bank during this period. No overprints, date variations, or signature variations are immediately apparent that would distinguish this as a known sub-variety, though collectors should note that serial number prefixes and chop mark placements may indicate different printings or administrative releases from this issuer.
