5 yuan 1922
Market Prices
About This Note
This is a striking 1922 5 Yuan note issued by the Sino-Scandinavian Bank, a foreign banking institution operating in Tientsin during the Chinese Republic period. The uncirculated example displays pristine condition with excellent color preservation, featuring elaborate Art Nouveau-style guilloche patterns, ornate corner floral designs, and distinctive cultural imagery—a Chinese pagoda landscape on the obverse and a Norse Viking ship on the reverse—that uniquely reflects the cosmopolitan banking environment of early 20th-century China. The red serial number P0150819 and dual signatures are clearly visible, and the note exhibits only light foxing appropriate to its 102-year age.
Uncommon. While the eBay market data shows UNC examples trading in the $748–$999 range, indicating modest collector demand and limited supply, the Sino-Scandinavian Bank was a legitimate operating institution with reasonable note circulation during 1922. The note is not from a short-lived or recalled bank (the bank operated into the 1930s), and eBay pricing in the mid-to-high hundreds for UNC examples is typical of specialized foreign bank issues from this period that appeal primarily to advanced collectors rather than general circulation. Print runs for individual denominations from such banks were typically moderate rather than extremely large or extremely small, placing this in the 'uncommon' rather than 'rare' category.
The Sino-Scandinavian Bank operated during the tumultuous early years of the Chinese Republic (established 1912), when foreign and semi-foreign banks dominated China's financial system. The deliberate pairing of Chinese and Scandinavian/European imagery on this note—the pagoda landscape representing Chinese tradition and the Viking ship representing Nordic commerce—reflects the bank's positioning as a bridge between Eastern and Western capital markets during a period of intense foreign economic penetration in China.
The obverse features an ornate rectangular frame with a wavy decorative border and elaborate floral cartouches in each corner. The central focal point is an oval vignette depicting a serene Chinese landscape with a prominent pagoda or tower structure in the distance, surrounded by water, trees, and natural scenery—characteristic imagery of classical Chinese art. This vignette is framed by multicolored geometric guilloche patterns in green, blue, pink, and brown. The note's primary colors are brown, tan, and cream with accent colors. The reverse displays 'THE SINO-SCANDINAVIAN BANK' prominently in an arched banner at the top, with the bank's full promise-to-pay clause below. The central oval vignette depicts a Viking or Norse-style sailing ship with billowing sails on water, symbolizing Nordic maritime commerce. The reverse employs matching ornate corner decorations with pointed leaf motifs and the denomination '5' in decorative cartouches on both sides. The bottom contains the issue date 'FEB 1ST 1922' and location 'TIENTSIN', with two authorized signatures. The entire design uses brown and cream coloring with intricate geometric borders matching the obverse style.
OBVERSE (Front): Serial number 'P0150819' (appears twice in red); Chinese text reading right-to-left includes characters identified as relating to banking authority and 'Republic of China' (中華民國). REVERSE (Back): 'THE SINO-SCANDINAVIAN BANK' (arched banner at top); 'Promises to Pay the Bearer on Demand at its Office here Local Currency value Received' (promissory clause); 'FIVE YUAN' (denomination); 'TIENTSIN' (place of issue); 'FEB 1ST 1922' (date of issue); denomination numeral '5' (appears twice in decorative cartouches on left and right); two signatures visible below the text (names illegible in standard condition inspection).
This note was produced using intaglio (steel engraving) printing, evidenced by the precise, detailed guilloche patterns, fine line work in the borders, and the crisp, raised impression characteristic of hand-engraved security printing. The multicolored geometric patterns required multiple printing passes. The red serial numbers and signatures were likely added in secondary printings. Based on the style and era (1922), this was likely produced by a European security printer specializing in banknote production, possibly firms such as Waterlow & Sons or De La Rue, which were common suppliers to foreign banks operating in China during this period.
The specific variety can be identified by serial number prefix 'P' and the date '1 FEB 1922.' The serial number P0150819 represents an individual specimen within the series. Known signature varieties may exist on this issue, though without access to comprehensive Sino-Scandinavian Bank documentation, specific signatory names cannot be reliably attributed. The Pick catalog number P-S581 likely encompasses multiple signature combinations and serial ranges from the February 1922 printing period. Collectors should note that foreign bank notes from China often exhibit variations in signature combinations and serial number formats; condition and eye appeal typically drive value more than minor signature variations for this issuer.
