10 gold yuan 1948

Common. Despite the historical significance of the 1948 Gold Yuan issue, this specific denomination and variety circulated in substantial quantities. eBay price history shows consistent availability with VF examples selling in the $4-$10 range in recent years, and the 2016 catalog value for VF condition is only $3.25. The number of auction records and the modest price points indicate this is a readily available note for collectors, not a scarce variety.

This note was issued in 1948 by the Central Bank of China during the final years of the Republic of China before the Communist takeover. The denomination 'Gold Yuan' (金圓) represents a currency reform attempt in the waning days of the Nationalist government, reflecting the economic pressures and inflation of the Chinese civil war period. The neoclassical institutional architecture depicted on the reverse symbolizes the modernizing aspirations of the KMT-led Republic during this turbulent era.

The obverse features a portrait of what appears to be a Republican-era Chinese military or political figure with a distinctive mustache, rendered in fine engraving on the right side. The design employs ornate cloud-shaped cartouches (典型 of Chinese artistic tradition) to frame the denomination and incorporates red government seals flanking the central element. The reverse displays an impressive neoclassical building with columns and architectural detailing—likely representing the Central Bank of China's headquarters—positioned prominently on the left. The bilingual treatment (Chinese on obverse, English on reverse) reflects the Republic of China's international positioning. Decorative guilloche patterns and scrollwork borders frame all elements.

OBVERSE: '中央銀行' (Central Bank of China) at top; '拾圓' (Ten Yuan) in central cloud cartouche; Serial number 'DN548202' in red. REVERSE: 'THE CENTRAL BANK OF CHINA' across top in English; '10' in decorative corner cartouches; 'TEN YUAN' in central cloud-shaped frames; Signature lines labeled 'GENERAL MANAGER' and 'GOVERNOR'; '1948' at bottom indicating issue year.

Intaglio/line engraving throughout, executed by the China Printing and Finishing Company (CPF) as noted in catalog reference S/M #C302-30. The fine line engraving is evident in the detailed portrait rendering, architectural illustration, and intricate guilloche and scrollwork patterns. Color separation between green and red elements indicates precision multicolor registration typical of high-security banknote production of the 1940s.

The observed serial number prefix 'DN' and the signature configuration visible in the images should be noted for variety identification. This represents the standard 1948 regular issue (as indicated in RealBankNotes catalog). No evidence of overprints, commemorative markings, or other distinguishing varieties is apparent from the visual analysis. The consistent design and printing across known examples of this Pick number suggests this is the primary variety of the 10 Gold Yuan 1948 issue.