CHINA Bank of Communications 10 yuan 1914 blue signatures
$20.00
CHINA, Bank of Communications, 10 yuan, 1.10.1914, Face: streetcar, Back: ship, SHANGHAI in dark blue, P118q, Unc
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Description
The Bank of Communications was founded in 1908 and still exists. It was formed to buy out a railroad owned by some Belgians.
The Chinese invented paper around 200 AD, says one article I read. They started making paper money during the Song dynasty, 1100s maybe. I think there are some Song banknotes in existance.
Aside from China, other governments started using circulating “banknotes” starting in the 17th century AD. The practice became general in the 19th century. In the 20th century value of paper money in circulation far surpassed the value of coinage. In the 21st century paper money is fading and credit transactions are growing.
