10 yuan 1940

Common. Secondary market data demonstrates consistent availability with numerous examples traded annually across multiple condition grades. eBay sales records spanning over a decade show regular circulation of this variety, with PMG-graded examples in grades 64-66 typically selling in the $20-40 range, and VF/F examples commanding only $2-8. Current catalog value (2016) reflects common status: $1.50 (VF) to $8 (UNC). The relatively high print run and lack of special circumstances (no recall, no short-lived issuer) confirm common classification despite the historical significance of the issue.

Issued in 1940 (Year 29 of the Republic of China), this note was produced during a turbulent period when the Bank of China continued operations despite Japanese occupation of much of eastern China. The Temple of Heaven pagoda depicted on the reverse symbolizes imperial Chinese heritage and national continuity, while Sun Yat-sen's portrait on the obverse represents the founding principles of the Chinese Republic. The use of English text and American Bank Note Company printing reflects the international nature of Chinese banking and Western technological reliance during this period.

This banknote features Sun Yat-sen (founder of the Republic of China) in a formal portrait wearing Western dress, positioned within an ornate oval frame on the left side of the obverse. The reverse showcases a meticulously engraved Temple of Heaven structure—a multi-tiered pagoda with traditional Asian architectural styling—enclosed in a decorative circular cartouche on the right side. The design employs symmetrical, elaborate borders incorporating repeating geometric patterns, floral motifs, and cloud-like decorative elements typical of traditional Chinese design vocabulary. Large denomination numerals '10' are incorporated into the border design on both sides. The overall composition balances Western engraving techniques with Chinese aesthetic principles, creating a culturally hybrid design appropriate for an international banking institution of the period.

FRONT: 中國銀行 (Bank of China) | 拾圓 (10 Yuan, the denomination) | 民國二十九 (Year 29 of the Republic, equivalent to 1940 in the Western calendar) | GENERAL MANAGER (signature line designation) | B902655H (serial number, appears twice). BACK: BANK OF CHINA (English text) | AMERICAN BANK NOTE COMPANY (printer attribution) | 10 (denomination numeral) | B902655H (serial number repeated) | 1840 (date reference on architectural frame).

Intaglio engraving (line engraving) produced by the American Bank Note Company, one of the world's premier security printers of the era. The fine line work visible throughout the portraits, architectural details, and decorative borders, combined with the complex geometric patterns and intricate scrollwork, are characteristic of high-security intaglio production. The multicolor printing required multiple passes and careful registration, evident in the crisp color separation between the dominant pink/magenta, cream, and red elements.

This note is cataloged as Pick P-85b, one of two known variants for the base 10 Yuan 1940 denomination (P-85a and P-85b exist as distinct varieties). The serial number format (B902655H) and the specific engraving characteristics visible in the image are consistent with the P-85b classification. No overprints, date variations, or signature variants are apparent in this example. The note represents the standard circulation issue variant rather than a special or commemorative printing.