10 Yen

The Bank of Taiwan was a colonial institution operating under Japanese authority, and by 1945 its note issues were scrambling to keep pace with severe wartime inflation and supply shortages. This 10 Yen belongs to the final phase of Japanese colonial currency production, when procurement of quality printing materials had largely broken down.

Pick 1931 is among the notes printed under increasingly degraded conditions late in the Pacific War. Allied naval blockades had severely disrupted paper and ink supplies reaching Taiwan's printers, and the physical quality of late-series notes reflects that directly.