10 yuan 1914
Market Prices
119 salesAbout This Note
This is a Bank of Communications 10 yuan note from 1914, printed by the American Bank Note Company, featuring exceptional design work with ornate pink and red decorative borders. The front showcases a prominent Shanghai clock tower building set in an urban landscape, while the reverse depicts a detailed steamship docked at harbor with cargo handling operations. The note appears to be in UNC (Uncirculated) condition with crisp paper, vibrant colors, and no visible wear, creases, or damage.
Common. The eBay market data shows consistent sales of UNC examples ranging from $9.50 to $51 over the 2012-2026 period, with most UNC examples selling in the $15-$37 range. PMG-graded examples (particularly 64-66) regularly sell for $30-$80. The 2016 catalogue value of $10 UNC further confirms this is an actively traded, readily available note. Print run was substantial for the time, and examples survive in reasonable numbers. The note is not difficult to find in UNC condition.
Issued on October 1st, 1914, this note reflects the early Chinese Republic period and the Bank of Communications' role as a major financial institution in Shanghai. The imagery—featuring both a modern clock tower representing urban development and a steamship engaged in international trade—symbolizes China's modernization efforts and its growing commercial integration with the Western world during the early 20th century. The American Bank Note Company's involvement underscores the reliance on foreign expertise and technology for Chinese currency production during this era.
The front features an architectural vignette of the Shanghai Clock Tower (likely the Custom House Clock Tower or similar landmark), surrounded by landscaping and urban structures, framed within ornate cartouches of pink and blue. The reverse presents a detailed maritime scene depicting a modern steamship at dock with cargo barrels and port infrastructure, symbolizing international commerce. Both sides employ elaborate baroque-style scrollwork, floral emblems in corner medallions, and geometric patterns in pink/magenta and red tones. The design emphasizes modernity and commercial sophistication appropriate to the Bank of Communications' role in facilitating trade and finance.
Front: '交通銀行' (Bank of Communications), '中華民國年印' (Printed in the Republic of China), '十圓' (Ten yuan), '海上' (Shanghai), '財政部郵傳交通部正' (Approved by the Ministries of Finance, Communications, and Posts), '安' (Security/Peace), 'SB458919E' (Serial number), 'American Bank Note Co. New York' (Printer attribution). Back: 'BANK OF COMMUNICATIONS', 'PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE', '10' (denomination), 'OF THE NATIONAL COINAGE OF', 'SHANGHAI', 'OCTOBER 1ST 1914' (date), 'AMERICAN BANK NOTE COMPANY, NEW YORK' (printer), plus official handwritten signatures.
Steel engraving with intaglio printing, executed by the American Bank Note Company, New York. The intricate guilloche patterns, fine line work in borders, detailed vignette rendering of both the clock tower and steamship, and multi-color design demonstrate the high-security printing standards of ABNC. The note exhibits the company's signature security features including complex background patterns and finely engraved decorative elements designed to prevent counterfeiting.
Pick 118q designation indicates this is the q variety of the P-118 issue. The observed serial number is 'SB458919E', suggesting early production (early series). The October 1st, 1914 date printed on the reverse is consistent with the initial issue date. Variety differences in this series typically involve serial number prefixes and signatures; the 'SB' prefix appears to be an early series indicator. No obvious overprints or emergency modifications are visible, confirming this is a standard regular-issue example rather than a regional variant or emergency issue.
