

This is a PMG 63 graded 10 Yuan banknote from the Federal Reserve Bank of China, issued in 1941 during the Republic of China period. The note displays exceptional clarity with pristine front and back designs featuring ornate blue and red decorative borders, a bearded male portrait in traditional Chinese dress, mountain landscape imagery, and elegant symmetrical ornamentation. The uncirculated condition with no visible wear or damage makes this an attractive example of wartime Chinese currency from this historically significant period.
Common. The Federal Reserve Bank of China's 1941 10 Yuan notes were issued in substantial quantities for circulation during this period of the Republic of China. While notes from this era can show varying degrees of preservation, the Pick J80 denomination is not among the scarce or rare issues from this series. The note's availability in the collector market and the lack of historical documentation indicating limited print runs or recalls support a common classification. PMG 63 examples may command modest premiums over lower grades due to condition, but the note itself is not inherently rare.
This 10 Yuan note was issued by the Federal Reserve Bank of China (中國聯合準備銀行) in 1941, during the second Sino-Japanese War and under the Republic of China government. The formal Chinese numerals and traditional Chinese dress depicted on the front reflect the nationalist Chinese currency standards of the period, while the dual Chinese-English denomination markings indicate the note's use in international trade contexts. The elaborate decorative design represents the high-quality engraving standards maintained by the Republic of China's banking institutions despite wartime conditions.
The front features a bearded male figure depicted in profile facing left, dressed in traditional Chinese clothing and formal headwear, positioned on the left side of the note. To the right is a naturalistic landscape scene depicting mountains and trees, representing Chinese territorial identity. The entire design is framed by an ornate geometric and floral decorative border in blue, with red official seals and stamps positioned centrally. The denomination '10' appears in both Arabic numerals and formal Chinese characters (拾圓) in the corners and center. The back presents a symmetrical design dominated by an elaborate blue medallion in the center containing the numeral '10,' flanked by shield-shaped cartouches displaying 拾圓 on both sides. Red and orange ornamental border patterns frame the design, with additional geometric and floral motifs creating a balanced, formal appearance. The English inscription '10 YUAN' appears at the bottom of the reverse side.
FRONT: 中國聯合準備銀行 (China Federal Reserve Bank) | 拾圓 (Ten Yuan) | 10 (Arabic numeral) | (2) (Series or variety indicator 2). BACK: 拾圓 (Ten Yuan) | 10 (Arabic numeral) | 10 YUAN (English) | 中華民國年行統備準銀行 (Republic of China Federal Reserve Bank). Note: There is a discrepancy in the institutional names between front and back, with the front indicating 'China Federal Reserve Bank' and the back indicating 'Republic of China Federal Reserve Bank,' reflecting the dual nomenclature used during this period.
This note was produced using multi-color intaglio (engraved) printing, evidenced by the fine line work, intricate decorative borders, and precise detail visible throughout both sides. The use of separate color plates for blue, red/orange, and cream backgrounds, combined with the high-quality engraved portraits and landscape work, indicates production by a skilled security printing establishment. The Federal Reserve Bank of China's notes from this period were typically printed by the China Banknote Printing and Minting Corporation or similar government-authorized facilities using advanced engraving technology of the 1930s-1940s era.
The visual analysis indicates a series/variety marker of '(2)' visible on the front of the note, suggesting this is the second known variety or series of this printing. This variety designation should be noted in collection records as Pick J80 (2). Further research into Federal Reserve Bank of China archival records may reveal additional varieties based on signature combinations, serial number ranges, or printing dates, though such information is not evident from the current visual examination. The dual institutional name nomenclature (前/back differences) may also represent a distinct variety marker for this specific issue.