10 yuan 1940

Common. The 10 Yuan 1940 Central Reserve Bank issue (Pick J12h) is encountered with reasonable frequency in the numismatic market, particularly in circulated and moderately worn examples. While notes from this wartime period and issuer are historically significant, this denomination and date combination does not represent a particularly scarce print run or short-lived issue. The existence of documented PMG population variants (black signature and blue signature) further indicates substantial production quantities. The condition assessment should be carefully verified given the visible wear observed in the images despite the UNC designation.

Issued during 1940 by the Central Reserve Bank of China during the Second Sino-Japanese War, this note represents a critical period in the Republic of China's monetary history when the nationalist government was relocating westward and attempting to maintain economic stability amid conflict. The monumental structure depicted on the reverse—likely the Mausoleum of Sun Yat-sen in Nanjing—served as a powerful nationalist symbol of the Republic's founding principles and legitimacy. The bilingual English-Chinese design reflects the note's intended use in a China still partially engaged in international trade and diplomacy despite wartime conditions.

The obverse features a formal portrait of a distinguished gentleman wearing Western-style formal attire with a prominent mustache, presented within an ornate oval medallion frame. This portrait is centered between two large decorative seals containing the Chinese characters 拾 (ten) and 圓 (yuan), serving as both security elements and denomination indicators. The reverse depicts the Mausoleum of Sun Yat-sen, the founder of the Republic of China, shown as an imposing domed structure set upon a raised platform accessed by a ceremonial staircase with figures of people on the grounds and landscaping with organized tree lines on both sides. The overall design employs traditional Chinese ornamental border elements, decorative corner flourishes with scrollwork, and geometric patterns throughout, creating a symmetrical and highly detailed composition. Large decorative numerals '10' appear in corner emblems on the reverse within ornamental frames.

FRONT SIDE: 中央銀行備儲 (Central Reserve Bank / Central Reserve Bank Reserves) | 中華民國十年帶金圓 (Republic of China, Ten Yuan, Gold-backed/Gold Standard) | 拾圓 (Ten Yuan) | Serial number: E662919E. BACK SIDE: THE CENTRAL RESERVE BANK OF CHINA (English inscription) | TEN YUAN (English denomination) | 10 (Arabic numeral denomination) | 1940 (Year of issue) | VICE GOVERNOR (Signature line designation indicating official title).

Intaglio (engraved line) printing on bond paper, evidenced by the fine detailed line work, intricate engraving throughout, and depth of design visible in both the portrait medallion and landscape scene. The red serial numbers and blue primary design colors, along with the ornate border work and fine detail security features, are characteristic of high-quality intaglio production. This note was produced by the Central Bank of China's printing facilities; the specific security printer for this series has not been definitively attributed in standard catalogs but reflects the technical standards of 1940s Chinese banknote production.

This note is cataloged as Pick J12h, representing one of the primary varieties of the 1940 10 Yuan Central Reserve Bank issue. PMG has identified two signature variants: P-J12s2 (Black Signature) and P-J12s5 (Blue Signature). The specific variety represented in this example would be determined by the color of the Vice Governor's signature on the reverse (not definitively determined from the visual analysis provided). Serial number E662919E with red printing is noted; additional variety distinctions may exist based on signature colors, security printer marks, or subtle design variations typical of this series.