China Pick-877 Varieties

The Standard Catalog of World Paper Money (more commonly referred to as the ‘Pick’ Catalog) lists six varieties for the 1962 1 Jiao. However, here at PMG, we break down this specific note into nine distinct varieties. We do this to correctly identify and distinguish between each variety. This benefits the collector greatly by giving them exact specifications so they can identify each variety.

The varieties run the gambit from inexpensive to investment-worthy. Below is a quick list of the differences between all known varieties that PMG authenticates and encapsulates.

1. 3 red Roman Numerals, without watermark, green and brown back, intaglio
2. 3 red Roman Numerals, with open star watermark, green and brown back, intaglio
3. 3 blue Roman Numerals, without watermark, brown back, lithograph
4. 2 blue Roman Numerals, without watermark, brown back, lithograph
5. 3 red Roman Numerals, with group of stars watermark, brown back, intaglio
6. 2 red Roman Numerals, without watermark, brown back, lithograph
7. 3 red Roman Numerals, with open star watermark, brown back, intaglio
8. 3 red Roman Numerals, without watermark, brown back, lithograph
9. 2 red Roman Numerals, without watermark, brown back, intaglio

Figure 1 – Pick# 877a, obverse.

Figure 2 – Pick# 877b, obverse.

Figure 3 – Pick#'s 877a or 877b, brown and green reverse.

Figure 4 – Pick# 877c, obverse.

Figure 5 – Pick# 877d, obverse.

Figure 6 – Pick# 877f, obverse.

Figure 7 – Pick#'s 877c to 877i, brown reverse.

The central vignette of this note is a large group of workers happily going to work with soft brown hues and a multicolored underprint, while the front right end shows a pink and blue guilloche. The intaglio portions of this note are as follows: the bank title text at the top and all denominational text at the right. Aren’t sure what intaglio looks like? The image below may be helpful.

Figure 8 – Close up of the intaglio portion of the denominational text.

The back of the note will be either in all brown or green and brown. In all back variations the arms can be seen in a vibrant red with yellow stars. The date is firmly located at the center of the design beneath the “1”.

The 1 Jiao also has replacements which are indicated by their respected Roman numeral block. A replacement would be 907, 970 for the three digit Roman numerals and 99 for the two digit Roman numerals. Please keep in mind that there are more replacement blocks, but for sake of brevity they will not be mentioned in this article.

Figure 9 – Pick# 877b* Replacement, obverse.

At times PMG will use a secondary reference number for a particular country. In this case we use Ward D. Smith and Brian Matravers’ Chinese Banknotes which was originally printed in 1970 and has been out of print over three decades. However, despite this fact the book is still useful and chock-full of valuable information. Smith and Matravers do not break down the 1 Jiao into sub-varieties and is listed as C284-31.

This 1962 1 Jiao is a fabulous example of one note with several variations. It’s an exciting note that ranges from easy to find to fairly challenging to acquire all depending on the variety. Personally, I enjoy giving them as gifts during the Lunar New Year. Whatever you choose to do with your China Pick 877’s remember there are several varieties that are unlisted in the Pick catalog that PMG attributes.

PMG is an independent member of the Certified Collectibles Group (CCG).