China 1965 Hell Bank 1000000 Yuan KENNEDY Original Note on Joss Paper. NOT A REPRINT. Minor toning along edges. BLOB VARIETY (spot on 'N' of JOHN at Bottom). Uncirculated.
Hell money, also known as ghost or spirit money is for burnt-offerings. Joss paper is traditionally made from coarse bamboo paper, which feel handmade with many imperfections and variances. Some have original flaws, small inclusions and misscuts derivating from production.
This issue is recognized as Chinese, but is more likely to have been made in Singapore.

Fake currency is used in funeral rituals for various Asian religions. Mourners burn the money in hopes of granting their deceased loved ones all the necessary resources in the afterlife.
The burning of spirit money is also part of traditional Chinese deity or ancestor worship ceremonies during holidays.
Although the offering is sometimes referred to as hell money, it has nothing to do with Western connotations of hell. The Asian understanding of hell is different than Western versions. Under the Chinese belief, for instance, all who die will initially end up in the same place: the underworld of Diyu. Then, they are sent to heaven, to be punished, or to be reincarnated. Hell then, is the neutral form for afterlife in general.