10 yuan 1935

Common. The eBay price data shows consistent sales across a wide range of condition grades from 2011-2025, with circulated examples (VG-VF) typically selling between $2-$18 and uncirculated examples ranging from $45-$81. The absence of any exceptional rarity sales or consistent premium pricing indicates this is a routinely encountered note among collectors of Chinese currency. The Farmers Bank of China 10 Yuan notes were produced in substantial quantities, and this Pick 459a variety shows no evidence of scarcity.

The Farmers Bank of China (中國農民銀行) was established as a regional issuing bank during the Republic of China period, with this note dated to Year 24 of the Republic (1935). The deliberate agricultural imagery—including farming laborers, fields, and a draft horse—reflects the bank's focus on agricultural financing and rural development during a period when China's economy remained predominantly agrarian despite modernization efforts. The bilingual English-Chinese design and London printer attribution demonstrate the internationalization of Chinese banking practices during the pre-war period.

The obverse features an ornately framed design with dual agricultural vignettes: on the left, a pastoral scene depicting rural laborers engaged in farming activities and field work; on the right, a traditional settlement or farmstead with figures engaged in domestic and agricultural pursuits, reflecting the bank's rural focus. A large central cartouche contains Chinese characters for 'grain' and 'yuan,' emphasizing the agricultural nature of the institution. The reverse displays a prominent vignette of a traditional Chinese fortified gate or tower structure with multiple tiers and curved rooflines characteristic of Ming-Qing defensive architecture, flanked by the profile of a draft horse—a symbol of agricultural labor and transportation. The entire design is framed by elaborate ornamental borders with decorative scrollwork, corner flourishes, and cartouches. Both sides carry matching serial numbers (LL 3675009) printed in red, signature lines for bank officials, and denomination markers.

FRONT: 中國農民銀行 (The Farmers Bank of China) | 中華民國二十四年 (Republic of China Year 24 [1935]) | 谷圓 (Grain Yuan) | Serial number: LL 3675009 (appears upper left and right). BACK: THE FARMERS BANK OF CHINA | TEN YUAN | NATIONAL CURRENCY | PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE | 10 (denomination in cartouches, upper left and right) | ACTING GENERAL MANAGER (signature line, lower left) | ASST GENERAL MANAGER (signature line, lower right) | Serial number: LL 3675009 (lower left and right) | THOMAS DE LA RUE & COMPANY, LIMITED, LONDON (printer attribution).

Line engraving and intaglio printing, executed by Thomas De La Rue & Company Limited of London. The technique is evidenced by the fine crosshatching, intricate line work throughout the background, complex ornamental borders, and precise detail rendering in the vignettes. This represents the high security standard employed by De La Rue for regional Chinese bank issues during the 1930s.

This specific note carries serial number LL 3675009, indicating it is from the 'LL' series production run. The visual analysis confirms this is Pick 459a (the standard 1935 issue), as evidenced by the bilingual English-Chinese design, De La Rue printing attribution, and the specific vignette imagery. No overprints or unusual varieties are apparent from the images. The note represents the standard variety of the 1935 Farmers Bank 10 Yuan issue.