5 yen 1938
About This Note
This is a Japanese Military occupation currency note from 1938, denominated at 5 yen and issued under Imperial Japanese authority for use in occupied China. The note displays excellent preservation with UNC condition, featuring intricate engraved security details including ornate scrollwork borders, multi-color printing in beige, red, green, and black, and a portrait of a dignitary in traditional dress. The fine line work and detailed floral motifs on both sides remain crisp and well-defined, making this a notable example of early 20th-century Japanese occupation currency design.
Common. Japanese occupation currency from 1938, particularly lower denominations like the 5 yen note, were produced in substantial quantities for circulation in occupied territories. The survival rate for notes in UNC condition is modest but not exceptionally rare. Market pricing for similar examples typically ranges from $15-35 USD, which indicates standard collector availability rather than scarcity.
This 5 yen note was issued during Japan's military occupation and expansion in China during the 1930s, representing the Imperial Government of Japan's monetary assertion in occupied territories. The formal presentation with Bank of Japan imagery and the prominent display of Japanese imperial authority reflects the political and economic control Japan sought to establish in Chinese regions during this period of regional conflict. The bilingual inscriptions (Japanese and Chinese/English) underscore the occupying power's intention to facilitate commerce and assert legitimacy in the occupied territory.
The obverse (front) features a formal portrait of a bearded dignitary in traditional formal Asian dress with distinctive headwear, positioned on the right side, alongside a traditional Asian architectural structure on the left—likely representative of cultural or administrative significance in the occupied region. The center displays a large ornamental green cartouche containing the numeral '5' surrounded by red circular decorative motifs. The reverse (back) is predominantly ornamental, featuring a large symmetrical rosette or floral medallion design with intricate scrollwork, fine geometric patterning, and the denomination '5' displayed centrally. Both sides employ ornate borders with baroque-style flourishes and finely executed engraved details throughout.
Front side: '日本銀行券' (Bank of Japan Note), '五圓' (5 Yen), '大日本帝國政府日本銀行印行當用紙幣' (Issued by the Bank of Japan, Imperial Government of Japan, current legal tender paper note). Back side: '5 YEN' (English denomination), '五圓' (5 Yen in Chinese/Japanese characters). All inscriptions affirm this as official Imperial Japanese currency with legal tender status.
Intaglio engraving combined with multi-color letterpress printing. The fine line work, scrollwork details, and geometric patterns visible throughout both sides are characteristic of high-quality engraved banknote production. The precise color registration across beige, red, green, and black inks indicates professional security printing typical of Imperial Japanese currency production during this period, likely executed by Japan's state security printing facilities.
The Pick catalog number P-M25 designates this as the standard 5 yen military currency issue of 1938. Specific varieties may include differences in serial number prefixes or subtle printing variations across different production batches. Without visible serial numbers clearly detailed in the analysis, primary variety distinction relies on issuance date and issuer designation. The 1938 date and Japanese Military Bank of Japan imprint establish this as the standard circulation variety for this denomination during the early occupation period.
