10 cents 1940
About This Note
This is an exceptional example of a 1940 Central Reserve Bank of China 10 Cents note (Pick P-J3a) in uncirculated condition, showcasing the ornate engraving characteristic of Republican-era Chinese currency. The note features a striking front design centered on a traditional Chinese multi-tiered gate structure with grand staircases and cypress trees, framed by intricate floral scrollwork and security elements. The reverse displays bilingual English and Chinese text with period signatures, and both sides exhibit sharp, clear printing throughout with no visible wear, creases, or damage, making this an excellent example of interwar Chinese monetary design.
Common. The Central Reserve Bank of China's 10 Cents notes from 1940 were issued in substantial quantities during a period when this denomination served as everyday currency for smaller transactions. While the Central Reserve Bank itself was one of the major issuing authorities of Republican China, this particular denomination and date combination remains readily available to collectors. The UNC condition grade and specific variety (P-J3a) do not command significant premiums in the current market, and examples in similar conditions can be acquired without difficulty, indicating a normal circulation print run without notable scarcity factors.
Issued during the Second Sino-Japanese War period when the Central Reserve Bank maintained monetary operations despite severe political and military turmoil, this 1940 note represents a transitional phase in Chinese currency. The architectural imagery on the front—depicting a significant historical Chinese monument—reflects the bank's attempt to project stability and nationalist pride during one of the most fragmented periods of Republican China. The bilingual English/Chinese design and involvement of Watson Printing Company indicate continued international trade and Western technological influence in Chinese monetary production during this era.
The front of this banknote is dominated by a sophisticated engraved landscape featuring a traditional Chinese ceremonial gate (likely representing a significant historical or cultural monument), rendered in green and cream tones with red security seals. The architectural structure displays the characteristic tiered roofs and grand approach staircases typical of important Chinese buildings, flanked symmetrically by cypress trees and set within landscaped grounds. The design is framed by ornate decorative borders incorporating elaborate floral and scrollwork patterns, with circular emblems positioned in the top corners and a central oval medallion containing Chinese text. The reverse presents a more formal, Western-influenced design with four corner roundels featuring the numeral 10 within floral rosettes, positioned against a beige/tan background with blue and brown decorative elements. Both sides incorporate symmetrical ornamental framing and include authority signatures (H.H Chow as Governor and T.S Chow as Vice Governor), with the printer identified as Watson Printing Company at the base.
{"front":{"chinese_bank_name":"中央储备银行 (The Central Reserve Bank)","serial_number":"Y679179D (appears twice, upper left and upper right corners)","central_medallion":"黄宣 (personal or institutional identifier, likely in oval medallion)","denomination_chinese":"壹角 (One jiao/Ten cents)","printing_authorization":"此券付托中央银行印制 (This note is entrusted to the Central Bank for printing)","printer_mark":"平年公司印刷 (Ping Nian Company Printing)"},"back":{"bank_name":"THE CENTRAL RESERVE BANK OF CHINA","denomination_english":"TEN CENTS","denomination_numerals":"10 (displayed in four corner floral medallions)","governor_signature":"H.H Chow","governor_title":"GOVERNOR","vice_governor_signature":"T.S Chow","vice_governor_title":"VICE GOVERNOR","year":"1940","printer":"WATSON PRINTING COMPANY"}}
This note was produced using intaglio engraving (steel plate engraving), evidenced by the fine line work, intricate border designs, and detailed landscape rendering visible throughout both sides of the note. The sharp, well-defined printing quality and the precise reproduction of small design elements—particularly the architectural details and decorative scrollwork—are characteristic of high-quality intaglio work. The note was printed by Watson Printing Company, and the visual analysis confirms the presence of security elements including fine engraved patterns and red security stamps/seals, all consistent with Republic of China-era security printing standards.
This note corresponds to Pick catalog variety P-J3a (10 Cents = 1 Chiao). The PMG population report indicates two variants exist for the base Pick number P-J3: the P-J31a (1000 Yuan overprint variety) and P-J3a (standard 10 Cents denomination). The observed note displays the standard bilingual English/Chinese design without overprints, consistent with the P-J3a classification. The serial number Y679179D and signatures of H.H Chow (Governor) and T.S Chow (Vice Governor) are documented features of this variety. Watson Printing Company is confirmed as the printer for this variant.
