About #870 - 10 yuan Type 1953
China. Zhongguo Renmin Yinhang / Chung Kuo Jen Min Yin Hang (People’s Bank of China). Currency Reform. 1953-1962 Post Devaluation Issues. 10 Yuan 1953 Pick 870. No single Chinese note better embodies the modern history of China than the 1953 10 Yuan. Its large format with a farmer and his wife at center was an iconic symbol of the struggles of the 1940s, 1950s and 1960s while China transformed before the world's eyes. This denomination was much larger than needed for daily use, equivalent to nearly three months pay for the average laborer. Large quantities of the notes were redeemed as the economy struggled over the decades following its issue. The remaining survivors are typically average in grade, and are rarely seen in grades above Very Fine.