5 yuan 1926
Market Prices
About This Note
This is a 5 yuan note issued by the Provincial Bank of Chihli in 1926, graded VF condition. The note features an ornate architectural vignette of a traditional multi-tiered East Asian gate on the front and an elegant circular medallion design on the reverse, both rendered in fine engraved detail with period-appropriate color toning (gray, pink, orange, and green inks). Despite showing expected aging characteristics including foxing, creasing, and yellowing consistent with its nearly century-old origin, the note retains good visual clarity and definition in its intricate border work and central designs.
Common. Market data from eBay sales tracking shows VF-condition examples of this note regularly selling in the $180-$195 USD range, with circulated examples available for $35-$65 USD. The consistent availability across multiple condition grades and the regular transaction history indicates a substantial surviving print run. Provincial Bank of Chihli notes from 1926 were produced in reasonable quantities for regional circulation in Tientsin and surrounding areas, and many specimens have survived into modern collector hands.
The Provincial Bank of Chihli (直隸省銀行) was established in Tientsin (Tianjin) during the waning years of the Chinese Republic's early period, with this note dated to 1926 during a time of significant political fragmentation and regional banking autonomy in China. The architectural imagery—a traditional Chinese fortress or ceremonial gate—reflects the cultural identity and institutional pride of this northern Chinese provincial bank during the Republican era. The note's bilingual design (Chinese and English) and reference to the Beijing Bureau of Engraving & Printing demonstrates the modernizing approach of Chinese financial institutions in the 1920s, even as the nation struggled with warlordism and political division.
The obverse features a classical Chinese multi-tiered fortress or ceremonial gate structure (likely representing a significant architectural landmark in the Tientsin region or symbolic of provincial authority) positioned centrally within an ornate frame of floral medallions and geometric borders. Four-petaled flower designs occupy all corners, with the denomination and issuer information integrated into decorative cartouches on either side. The reverse displays a more symmetrical, Western-influenced design centered on a large circular medallion containing the numeral 5, flanked by ornate lotus or floral motifs rendered in fine detail. Large corner numerals and the English-language redemption promise emphasize the note's status as negotiable currency backed by the bank's promise to pay. The overall aesthetic represents a hybrid of traditional Chinese artistic elements and Western banknote design conventions typical of early Republican-era Chinese regional notes.
FRONT: '行銀省耀直' (Provincial Bank of Chihli), '十五圓' (Fifteen yuan - note discrepancy with catalog denomination), '中華民國十五年' (Chinese Republic Year 15, corresponding to 1926), '津天' (Tientsin), Serial number 0056782. BACK: 'PROVINCIAL BANK OF CHIHLI' (English header), 'FIVE YUAN' (English denomination), 'TIENTSIN' (location), 'PROMISED TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE FIVE YUAN LOCAL CURRENCY' (redemption promise), 'BUREAU OF ENGRAVING & PRINTING PEKING, CHINA' (printer attribution).
Line engraving on steel plates, executed by the Bureau of Engraving & Printing in Peking. The extensive microprint patterns visible in borders, fine-line architectural details in the central vignette, and intricate geometric and floral patterns throughout are characteristic of high-quality intaglio printing. Multiple color passes (black/gray, pink/mauve, orange/red, and green) indicate this was a multi-color engraved production, suggesting the use of separate plates for each color layer—a standard security and aesthetic practice for premium currency production in the 1920s.
The visual analysis reveals serial number 0056782 in red text, suggesting this is from a normal circulation issue rather than a special or commemorative variety. The Pick catalog designation P-S1289a (the 'a' variant suffix) indicates this specific issue variant within the broader 5 yuan 1926 Provincial Bank of Chihli classification. No overprints, special stamps, or unusual signatures are noted in the visual analysis, suggesting this is a standard production note from the regular issue series.
