10 cents 1940
Market Prices
57 salesAbout This Note
This is a Central Bank of China 10 cents (1 Chiao) banknote from 1940, graded in Uncirculated condition. The note features a striking teal/turquoise color scheme with a formal portrait of Sun Yat-sen on the obverse, framed within an ornate Greek key pattern oval border, accompanied by elaborate floral corner medallions and red official seals. The printing is exceptionally sharp and crisp with no visible wear, representing a well-preserved example of Republican-era Chinese currency from a significant period in the nation's history.
Common. This is a standard regular issue from the Central Bank of China's 1940 emission with no indication of limited print run or recall. eBay market data shows consistent sales across multiple condition grades spanning from 2012 to 2026, with UNC examples selling between $3-$20 depending on exact grade, and even PMG-graded examples (PMG 65-67) typically selling in the $15-$40 range. The extensive sales history and modest prices indicate robust supply and collector availability.
This note was issued by the Central Bank of China during the Republic of China period, dated to the Twenty-ninth Year of the Chinese Republic (1940), corresponding to the Japanese invasion era and Second Sino-Japanese War. The portrait depicts Sun Yat-sen, the founding father of the Republic of China, whose image became a symbol of Chinese nationalism and republican governance during this turbulent period. The bilingual design (Chinese and English) and professional engraving reflect the Central Bank's efforts to maintain monetary credibility and international standing amid wartime conditions.
The obverse features Sun Yat-sen (1866-1925), founder of the Republic of China, portrayed in formal attire with high collar and beard, shown in right-facing profile within an oval frame decorated with a Greek key geometric pattern. This is surrounded by ornamental floral cartouches in all four corners, with repeating Chinese characters as a background security pattern and red official seals and stamps positioned on the left side. The reverse displays classical ornamental design elements including decorative corner frames with the numeral '10' in each corner, a formal central cartouche containing the denomination and bank name in English (reflecting international monetary standards), and signature lines for the General Manager and Assistant General Manager, with the printer credited as Chung Hwa Book Company Limited at the bottom.
OBVERSE: Central Bank (中央銀行) | Serial Number: R657835U | One Dollar/Yuan (壹圓) | Twenty-ninth Year of the Chinese Republic (中華民國廿九年) [corresponds to 1940]. REVERSE: The General Bank of China | Ten Cents (10/TENGENTS) | GENERAL MANAGER signature line (H. Lobola) | ASST GEN MANAGER signature line (Y.W. Jen) | Year: 1940 | Printer: CHUNG HWA BOOK CO. LTD.
Intaglio engraving (line engraving), evidenced by the fine, detailed line work visible throughout the design, ornamental border work, and the sharp impression quality observable in the uncirculated condition. The printer, Chung Hwa Book Company Limited (CHB), employed traditional security printing techniques including repeating character background patterns and elaborate ornamental border work to prevent counterfeiting.
This specific example carries serial number R657835U and exhibits the standard bilingual English/Chinese design with signatures of H. Lobola (General Manager) and Y.W. Jen (Assistant General Manager). The 1940 date (Republic of China Twenty-ninth Year) is consistent across the standard issue. No major varieties (such as different signatures, watermarks, or security features) are documented for Pick 226 in standard references, suggesting this represents the standard printing for this denomination and year.
