China 10 yuan Banknote KM-159a Steam Train Locomotive Paper Cash EPQ64 PMG 1941

The China 10 Yuan banknote of 1941, cataloged as KM-159a and graded PMG EPQ 64, is an outstanding example of late Republican-era paper money, reflecting China’s modernization and industrial ambitions during a turbulent historical period. Issued by the Bank of Communications, this note combines complex engraving, symbolic imagery, and strong visual balance.

The obverse is dominated by an impressive steam locomotive charging forward along railway tracks, releasing thick clouds of smoke that emphasize power, speed, and industrial progress. Factory chimneys rise in the background, reinforcing the theme of modernization. At the center-left, an ornate multi-layered rosette contains the denomination in Chinese characters, surrounded by intricate guilloché patterns. Serial numbers appear in red on both sides, while decorative frames, corner ornaments, and traditional motifs fill every section of the design.

The reverse presents a symmetrical composition centered on an elaborate medallion displaying the value TEN YUAN with large numerals “10” on both sides. Rich scrollwork, layered geometric patterns, and ornamental borders create depth and security. Printed signatures, English text, and fine background line work further enhance the visual complexity.

Certified PMG EPQ 64, this note boasts exceptional paper quality, crisp printing, and strong eye appeal. A superb collectible representing transportation history, industrial imagery, and Republican China currency.

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