Chung Thye Phin - Minting His Own Money

Minting His Own Money

At one time, during the latter part of the first World War, he was among the few who were permitted by the Government to print and issue 10-cent notes for circulation. Chung Thye Phin first issued private banknotes in 10 cent denominations on February 11, 1918. These notes were only circulated within his mining concessions and the Kapitan's trading outlets at Phin Kee Chan in Ipoh and were used by large numbers of labourers in the mining areas in exchange for goods (Source: Museum Numismatik Maybank). No other denominations have been discovered. Circa 1918 the notes bear the legends Ten Cents "Phin Kee Chan Ten Cents" at top and bottom border and "Phin Kee Chan" at left and right border. The legend Chung Thye Phin was printed in a black panel diagonally. On the top left corner is a value of "10cents" and written in Chinese on the right is "bearer of this bill may exchange 10c from Phin Kee Chan". Embossed on it was an oval seal bearing the legend of Chung Thye Phin.

(http://en.wikipedia.org/wiki/File:CTPbanknotefront.jpg & http://en.wikipedia.org/wiki/File:CTPbanknoteback.jpg)

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