20 copper coins 1925
Market Prices
About This Note
An exceptional example of a 1925 Bank of the Northwest 20 copper coins note from Kalgan (Zhangjiakou), graded AU with pristine condition showing no visible wear, creasing, or stains. The obverse features an intricate pagoda vignette in a circular frame surrounded by ornate floral medallions and scrollwork, while the reverse displays bilingual English and Mongolian text with a globe design in the center cartouche. This note is particularly notable for its sophisticated multi-color printing (green, brown, red, and black), fine line engraving security features, and the historical significance of representing a regional Chinese bank's currency during the early Republican period.
Common. eBay market price tracking shows this note regularly appearing at moderate valuations ($99.95 to $595.00 USD depending on condition), with the AU grade represented in the $350-450 range. These prices, while respectable for a regional Chinese banknote, indicate active collector circulation and regular market availability. The Bank of the Northwest operated for several years and likely produced substantial quantities of this denomination to serve regional commerce. No evidence of restricted print runs, recalls, or extreme scarcity markers. The Pick catalog designation (P-S3868a) with sub-variety notation suggests multiple varieties exist, further indicating adequate original circulation.
The Bank of the Northwest issued this currency from its Kalgan (modern-day Zhangjiakou) headquarters in Hebei Province during a period of significant Chinese political fragmentation. The prominent pagoda imagery reflects the region's cultural heritage, while the bilingual English-Mongolian inscriptions underscore Kalgan's position as a critical trading hub on the Mongolian border during the 1920s. The March 1, 1925 date coincides with the turbulent period following Sun Yat-sen's death, when regional banks like this one competed for monetary authority in areas beyond central government control.
This banknote represents a sophisticated regional currency design typical of early 1920s Chinese provincial banking. The obverse centers on a multi-tiered pagoda in a landscape setting, rendered within a circular vignette—a symbolic representation of Chinese cultural authority and legitimacy. The pagoda is surrounded by ornate corner medallions containing geometric designs and decorative scrollwork with floral motifs, all rendered in fine intricate line work. Red serial numbers (1382958) appear in the upper corners. The reverse presents a formal English-language design with the denomination '20' prominently displayed in large numerals at all four corners, enclosed within an ornate central cartouche featuring a globe motif. The bilingual (English/Mongolian) presentation and 'NATIONAL CURRENCY' designation were meant to assert legitimacy across multiple linguistic and cultural communities in the border region.
OBVERSE (Front): 西北銀行 (Bank of the Northwest); 張家口興隆 (Zhangjiakou Xinglong); 銅公用 (Copper Public Use); Serial number 1382958 (repeated upper corners); Additional Chinese text appears in ornamental cartouches describing the note's official status. REVERSE (Back): BANK OF THE NORTHWEST; 20 COPPER COINS / TWENTY; NATIONAL CURRENCY; KALGAN; MARCH 1st 1925; BUREAU OF ENGRAVING AND PRINTING, PEKING, CHINA; Mongolian/Cyrillic text inscriptions on left and right sides (specific characters not fully legible in image but present as multilingual security feature).
Intaglio engraving (line engraving) executed by the Bureau of Engraving and Printing, Peking (BEPP, Kalgan location per catalog S/M #H77-12b). The visual analysis confirms fine intricate line engraving throughout with complex ornamental patterns creating security through design intricacy. Multi-color printing achieved through successive intaglio passes: green and cream underprint base, with brown/sepia and black line work for detail, and red ink for serial numbers. The precision of the ornamental borders, corner cartouches, and vignette rendering are consistent with high-quality intaglio production standards of the period.
This specimen is cataloged as Pick P-S3868a (variant 'a' designation), indicating known variety differences exist within this denomination and issuer. The serial number 1382958 is specific to this individual note. Variety identification within the Bank of the Northwest series may involve differences in: serial number prefix/range, specific dates within the March 1925 issue window, signature variants if present on reverse, or subtle printing differences. The reference notation 'S/M #H77-12b' (likely Schwan-Boling or similar specialty catalog reference) indicates this is the 12b variety in the specialized listing. Collectors should consult detailed Chinese regional currency references to distinguish between 3868a and any other cataloged variants of this Kalgan issue.
