5 yuan 1914

Common. eBay market data shows multiple sales of this note in UNC grade ranging from $20-$139.39, with most UNC examples trading between $20-$45. The wide price variance likely reflects condition variation and buyer competition rather than rarity. Catalog 2016 values show EF at $7200, but this represents the theoretical catalog value; real market sales data from eBay clearly demonstrates that UNC examples of this Pick number are readily available and actively traded at modest prices. Print runs for Bank of Communications notes in 1914 were substantial, and this particular note does not exhibit characteristics of a scarce variety or short-run issue.

The Bank of Communications was established in 1908 and became one of China's most important financial institutions during the Republic of China era. This 1914 issue, printed by the American Bank Note Company in New York, symbolizes the Meiji-era optimism about industrial modernization and Western-style banking infrastructure in early Republican China. The depicted steam locomotive and neoclassical bank building represented the aspirational symbols of progress that the new Republic sought to project through its currency.

The front features a classical symmetric design centered on an industrial vignette of a steam locomotive positioned on railway tracks with industrial buildings and factory structures visible in the background—symbolizing China's modernization aspirations. The design is framed by ornate geometric and floral border patterns in the Art Nouveau style, with decorative cartouches containing the denomination in Chinese characters. The back depicts the Bank of Communications' headquarters building in Shanghai, rendered in fine Beaux-Arts architectural style with mansard roofs, multiple windows, and detailed stonework shown in corner perspective view. This building serves as the primary security vignette and institutional symbol. Both sides employ elaborate guilloche background patterns and decorative security elements typical of high-security banknote design. The color palette combines black/dark gray line work with cream and beige backgrounds, with accents of blue and red (particularly on the front side seals/stamps).

FRONT SIDE: '交通銀行通' (Bank of Communications) appears at top center; '伍圓' (Five Yuan) and '伍' and '圓' appear in corner cartouches; '中華民國三十四年' (Republic of China year 34, or alternate dating system); '上海' (Shanghai); Serial number 'SB857855U'. BACK SIDE: 'BANK OF COMMUNICATIONS' (English header); 'PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE' (redemption promise); '5' (denomination); 'OF THE NATIONAL COINAGE OF THE REPUBLIC OF CHINA' (official designation); 'SHANGHAI' (issuing location); 'OCTOBER 1ST 1914' (issue date); 'American Bank Note Co. New York' (printer attribution); Two signatures present: 'Bricang' and 'T. Wong' (authorized signatories); 'NO' (serial number prefix indicator).

Intaglio engraving (steel/copper plate printing) executed by American Bank Note Company, New York. The fine line engraving throughout the design, complex guilloche patterns, detailed architectural rendering, and the security-focused printing methodology are characteristic of American Bank Note Company's work. The note exhibits the hallmarks of professional currency security printing: multiple levels of line detail, background pattern complexity, and precise registration evident in the symmetric cartouches and borders.

This example is identified as Pick P-117h, indicating it is variant 'h' within the 1914 5 yuan Bank of Communications issue. The serial number SB857855U with the 'SB' prefix and the specific signatures of 'Bricang' and 'T. Wong' are particular to this printing batch. The date of October 1st, 1914 on the back establishes this as part of the initial 1914 issue series rather than later reprints. No obvious overprints, supplementary marks, or anomalies are visible that would indicate an error variety or special commemorative printing.