5 yuan 1925

Common. While regional warlord-era Chinese notes are collected, this Bank of the Northwest 5 Yuan is widely available in the secondary market. eBay pricing data shows multiple sales across condition grades with AU specimens regularly selling between $161.70 and $380.00 USD, indicating healthy supply. The visible serial number (0286792) suggests this was part of a substantial print run typical of regional bank currency. No evidence of scarcity, recall, or short-lived circulation exists for this Pick number.

The Bank of the Northwest operated during China's tumultuous warlord period (1916-1928), when regional military leaders issued their own currency to finance local administration and military operations. The March 1925 date and Kalgan/Zhangjiakou office location situate this note during a period of intense competition among northern Chinese warlords, with the utility poles and landscape vignette symbolizing infrastructure development and modernization efforts by regional authorities. The trilingual approach (English, Arabic numerals, and Chinese) reflects Kalgan's status as a significant trade hub on the Sino-Mongolian border with international commercial significance.

The obverse features a framed landscape vignette positioned at left showing utility poles with overhead wires and a building or tower structure in an open terrain setting—imagery emphasizing modern infrastructure and industrial progress. The right side displays a large ornamental cartouche with elaborate scrollwork borders in traditional Chinese style. Four corners are decorated with identical floral medallions. The reverse maintains symmetrical aesthetics with a dominant central ornamental cartouche featuring scrollwork and cloud motifs, displaying repeated '5' numerals in corner medallions. The entire design is rendered in red-pink with cream-beige background, executed in fine engraved line work characteristic of contemporary security printing. Three authorized signatures in cursive script appear on the reverse, serving as manual authentication and authorization marks.

FRONT: Serial number: 0286792 | Bank of the Northwest (西北行银) | Zhangjiakou (张家口) | Republic of China Year 40 [corresponding to 1925 in the Nationalist calendar]. BACK: BANK OF THE NORTHWEST | Ningxia (宁夏) | FIVE YUAN | KALGAN | MARCH 1ST 1925 | PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE FIVE YUAN LOCAL CURRENCY | Signatures: Chen Yin Sing, Macartie Dan, Yangtseu Shaw

Steel engraving (intaglio printing) executed by BEPP (Bradbury, Wilkinson & Co. or similar British security printer based in Kalgan/Beijing operations), as evidenced by the intricate fine-line work throughout, precise guilloche patterns, and multi-color registration visible in the visual analysis. The detailed vignette rendering, delicate ornamental borders, and security features typical of early 20th-century banknote production confirm engraved plate printing. Hand-signature authentication was applied post-printing as a secondary security measure.

Pick S3874b designation indicates this is variety 'b' of the S3874 type. The visual analysis confirms the BEPP Kalgan printer attribution and the specific date of March 1st, 1925. The three authorized signatures (Chen Yin Sing, Macartie Dan, Yangtseu Shaw) are consistent with documented Bank of the Northwest authentication practices. Serial number 0286792 falls within typical issue ranges. No overprints or significant printing variations are evident in the analyzed specimens. This appears to be a standard issue variant of the 1925 5 Yuan without known sub-varieties based on serial number prefixes or signature combinations.