Shanghai's Wartime Emergency Money

swem.jpgThis is the story of a little known aspect of China's history and an oft neglected area of numismatics. The setting of this article is the Chinese city of Shanghai and the year is 1939. Dire things are about to happen which will drastically change the way the city goes about its business.

To set the stage the author takes you through the years leading up to 1937, when the Japanese invaded China prior to World War II. After abandoning the silver standard in 1935, the Chinese government set about to unify and stabilize both coins and bank notes. After working for awhile, inflation set in due to the war ultimately driving Shanghai's merchants to the use of emergency money to keep commerce flowing.

Click to download PDF here.   


Some Previously Unlisted Bank Notes of the German Independent States


spubnotgis.jpgNot to be found in any catalog I am aware of are a series of German bank notes which belong to the German "Independent States". Germany, prior to unification consisted of four kingdoms, six grand duchies, five duchies, seven principalities and three free cities. When Wilhelm I of Prussia was declared the first German emperor by the Reichstag in 1871, not everyone was wildly enthusiastic. The chief dissenters were the southern kingdoms of Bavaria and Wurttemberg and the Duchy of Baden. As a concession for these states to join the German Empire, the Reischstag granted them concessions, which included to right to continue issuing their own stamps, coins and paper money.

This article explores some of these interesting and oft overlooked issues.

Click to download PDF here.    


Money of Communist China - Part III

tmoccp3.jpgPart III describes the money used in the Communist  
" Liberated Areas " during the civil war with the Chinese Nationalists (1945-1949).

Click to download PDF here.   


Some Anomalies Found on Greek Bank Notes

safogbn.jpgFrom a numismatic perspective Greek bank notes of the period 1939 to the end of World War II are interesting as they contain a number of anomalies not found elsewhere. These include error notes, overprints, design changes on the same note, watermarks, under-print variations and above all, the phenomena of identical series and series numbers which are commonly found on notes of the German occupation series. Some of these abnormalities can be explained, while others still remain a mystery.

Click to download PDF here.   


German Railroad Notes of the 1923 Hyperinflation


grnot1h.jpgGermany offers many diverse collecting opportunities for coin and paper money enthusiasts. Among these, its varied paper money issues contain numerous areas of specialization for the collector. One such area comprises the banknotes of the German national railroad (the Deutsche Reichsbahn), and its regional offices (the various Reichsbahndirektions). These notes were issued, under law, as an emergency expedient at the height of the post World War I inflation. For those who have a passion for trains and railroading, these notes hold a special interest.

Click to download PDF here.    


Ancient Chinese Cash Notes - the World's First Paper Money - Part II


accntwfpmp2.jpgPart II describes Ming dynasty paper money issues and identifies the coins depicted on the 1 kwan bank note of emperor Hung Wu (1378 A.D.)

Click to download PDF here.    



Bank Notes of the French Revolution, Part II (The Assignats of the First Republic)



The monarchy of Louis XVI came to an end on 22 September, 1792 when a Republican formed "Convention" created the First Republic. The Convention was anxious to suppress all past references to the monarchy. This desire carried over to France's paper money. Louis XVI's portrait was soon replaced by a new series of livre notes containing Republican symbols and slogans propagandizing the new regime. In 1792-1793 new Republican notes gradually appeared in denominations of 5 to 500 livres. As inflation mounted, the old livre system was replaced by new "franc" notes.

The franc issue of 18 Nivose l'An III ( 1 July 1795) contained values up to 10,000 francs. As inflation ran rampant these notes lost over ninety percent of their value and were, in turn, replaced by "Promesses de Mandats Territoriaux" in 1796. By now the long suffering public had had enough, refusing to accept these new notes in their everyday business. A last ditch effort, using paper money known as "Rescriptions de l' Emprunt Force" also failed within months of it's introduction, whereupon France reverted once again to an entirely specie economy. The First Republic lasted only six years before Napoleon Boneaparte declared himself Emperor Napoleon I of France.


Click to download PDF here.   

Maryland Colonial and Continental Bank Note Issues of the American Revolution



This article will explore the conditions in Colonial Maryland during the years preceeding the revolution as well as the war years leading to independence. Emphasis will be on the various note issues of the colonial and continental governments. .


Click to download PDF here.