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The 1 fen coin is a circulation coin that was issued in 1940, the 29th year of the Minguo calendar, by the Reformed Government of the Republic of China, a Chinese provisional government protected by the Empire of Japan during the Second Sino-Japanese War. Such a piece had a value equivalent to 0.01 yuan prior to its eventual demonetization in 1941. It was distributed by the Hua Hsing Commerce Bank, a financial agency established by the imperial Japanese government. In addition to the circulation pieces, at least three types of patterns were also produced.
The circulation coin is composed of bronze, and like most coins, is round in shape. Featured in the center of the obverse is the Chinese character "蕐" (Pinyin: Huá), signifying issuance by the Hua Hsing Commerce Bank. Below it is a pair of wings. Both of the aforementioned objects are enclosed within a circular border. Inscribed from right to left at the very top of the coin is the state title "國民華中" (Pinyin: Zhōnghuá Mínguó; English: "Republic of China"), and written in the same direction at the bottom of the piece is the date "年九十二" (Pinyin: Èrshíjiǔ nián), essentially indicating the coin was minted in the 29th year of the Minguo calendar, which began in 1912 with the creation of the Republic of China under President Sun Yat-sen (1866–1925). Both legends are separated from each other by two five-pointed stars, one at the left side of the obverse and the other at the right. Depicted in the middle of the reverse is a bundle of rice tied together by a ribbon at the stems. This illustration divides the two characters in the value "分壹" (Pinyin: Yī fēn), which, like the text on the obverse, is written from right to left.