10 yuan 1941

Common. While this note is from the wartime period, the eBay market data shows consistent sales activity across multiple grades with PMG 65 examples regularly selling in the $23-36 range (2019-2020 data). The 2016 catalogue value of $30 for UNC condition and the steady sales volume indicate this is a readily available issue in the numismatic market. No evidence of limited print runs or significant scarcity exists for Pick P-239b in standard grades.

This 10 Yuan note was issued by the Central Bank of China in 1941, during the Second Sino-Japanese War when China's government was increasingly isolated and relying on internal currency production to finance military operations. The bilingual English-language inscriptions ('THE CENTRAL BANK OF CHINA' and 'YUAN') visible on the reverse reflect the Republic of China's attempts to maintain international credibility and facilitate foreign trade despite wartime conditions. The formal portraiture and elaborate engraved security features demonstrate the Central Bank's efforts to maintain confidence in Chinese currency at a critical moment in the nation's history.

This note displays a classical design typical of Central Bank of China Republican-era issues. The front features an oval-framed male portrait in profile facing left, prominently positioned on the left side of the note—the identity of this portrait figure is consistent with official Central Bank portraiture of the period, likely representing a significant political or financial leader of the Republic of China. The denomination '10' is presented within an ornate circular frame decorated with pink/red and dark blue coloring in the center of the obverse. The reverse displays a symmetrical design with large '10' numerals positioned in all four corners and the center, with bilingual English and Chinese inscriptions. The design incorporates traditional Chinese ornamental patterns and decorative borders in blue, green, and red tones throughout both sides, creating a balanced and dignified appearance befitting a central bank issue.

FRONT SIDE: 中央銀行 (Central Bank); 拾 (Ten, appearing in corner positions); 圓拾 (Yuan Ten); Serial number 016216. BACK SIDE: THE CENTRAL BANK OF CHINA (English text at top); YUAN (English text, center); 10 (numeric denomination in four corners and center); GENERAL MANAGER (English text, signature line labels); Serial number 016216; 1941 (year of issue).

This note was produced using intaglio engraving, evidenced by the sharp, detailed line work visible in the portrait oval, the fine geometric patterns within the denomination circle, the intricate border designs, and the complex background line patterns throughout both sides. The crisp registration of multiple color elements and the exceptional clarity of security features confirm professional central bank-standard security printing typical of 1940s Chinese currency production.

This example is catalogued as Pick P-239b, indicating it is the second recognized variety of the 1941 10 Yuan Central Bank of China note. Varieties within this issue likely differ in signature configurations (two signature lines for 'GENERAL MANAGER' are visible on the reverse), serial number prefixes, or minor design elements. The serial number 016216 should be noted for variety identification purposes. Collectors should consult Pick catalogs and specialized Chinese currency references for detailed variety distinctions within the P-239 series.