10 yuan 1936

Common. The eBay market data shows consistent sales ranging from $1.50 to $207.50, with most ungraded or lower-grade examples (F, VF, EF, AUNC) selling for $2-$6, and certified examples commanding premiums based on grade. Even PMG 66 examples have sold for under $100. The 2016 catalogue value for UNC is listed at $8, and the consistent volume of sales across multiple condition grades over more than a decade indicates robust supply. This is a frequently traded note with no known print run restrictions or recall issues.

Issued in 1936 during the Republic of China period, this note represents a transitional era in Chinese monetary policy under the Central Bank of China's administration. The bilingual English/Chinese inscriptions and European security printing reflect China's international financial engagement in the pre-World War II era, while the traditional palace architecture depicted on the reverse symbolizes national identity and cultural continuity during a period of significant political upheaval.

The obverse features a male portrait in profile on the left side, likely representing Sun Yat-sen (founder of the Republic of China), rendered in formal attire with traditional Chinese styling. The design incorporates elaborate ornamental borders with scrollwork in corners and traditional Chinese architectural corner ornaments, centered around an ornate rosette containing Chinese characters—a common security element. The reverse depicts the Palace of China in Peking (modern Beijing), shown as a formal traditional structure with characteristic upturned eaves and multi-tiered roofs set within a symmetrical courtyard composition, flanked by landscape elements. A large blank cartouche on the left side of the reverse is an intentional design feature for administrative use.

OBVERSE: 中央銀行 (Central Bank); 拾圓 (Ten Yuan); 圓拾 (Ten Yuan, vertical orientation); 印年五十國民華中 (Printed in the 50th year of the Republic of China, corresponding to 1936); Serial number BF393809X. REVERSE: THE CENTRAL BANK OF CHINA; TEN YUAN; NATIONAL CURRENCY; Serial number BF393809X (repeated); ASSISTANT MANAGER; GENERAL MANAGER; 1936; WATERLOW & SONS LIMITED, LONDON.

Intaglio engraving (line engraving), executed by Waterlow & Sons Limited of London, a renowned British security printer. The fine line work visible in the decorative borders, architectural detailing, and portrait rendering are characteristic of high-quality intaglio security printing. The multicolor underprinting visible on the obverse and the teal coloring of the reverse demonstrate sophisticated color separation and sequential printing techniques typical of professional currency production in this era.

This note is catalogued as Pick P-218a, part of a series with six documented variants (P-218a through P-218f), all printed by Waterlow & Sons. The specific variety assignment would depend on signature combinations, date variations, or serial number prefix patterns. The observed serial number prefix 'BF' and the 1936 date are consistent with P-218a specifications. Without access to comprehensive signature/date variant documentation, this cannot be definitively assigned to a sub-variety, but the bilingual format and W&S printing credit confirm it as the standard P-218a type rather than later variants.