A Set of Three 1919 International Banking Corporation $1, $5, & $10 Banknotes (AU Condition) (Split Notes / Re-joined)
A set of three 1919 International Banking Corporation (National City Bank of New York) banknotes in $1, $5, and $10 denominations. These are re-joined split notes with non-matching serial numbers between the left and right halves. All three notes are graded in AU (About Uncirculated) condition. Both the $5 and $10 notes are from the Peking (Beijing) branch.
Why were they cut in half?
The primary reason: A security measure to prevent theft during transit ("split mailing").
In 1919, land and water transport routes within China, as well as those connecting China to overseas destinations, were highly insecure. Bandits and robberies of mail coaches were frequent occurrences. Since advanced electronic wire transfers did not yet exist, merchants and individuals who wanted to conduct trade or send money home had no choice but to mail physical banknotes.
To ensure safety, businesses and individuals developed a clever "split mailing" method:
Cut in half: The sender would use scissors to cut a complete banknote vertically down the middle into two halves.
Mailed separately: The left half would be mailed first. A few days later—or once confirmation was received that the first letter had arrived safely—the right half would be sent via a different mail coach.
Pieced back together for use: Upon receiving both halves, the recipient would use glue or a paper strip to re-join them into a single note. It could then be taken to a bank for exchange or circulated directly in the market.