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1 Peso
| Issuer | Philippine National Bank, Iloilo City |
|---|---|
| Year | 1941 |
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| Composition | Paper |
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|---|---|
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| Reverse description | The reverse is printed in green on a fine guilloche wave-pattern underprint covering the entire field, with a plain rectangular border. The central area carries the text 'ONE PESO / PHILIPPINE NATIONAL BANK' at the top, followed by the place and date 'Iloilo City, Philippines, Dec. 30, 1941,' with 'ONE PESO' repeated in a bold central band and 'EMERGENCY CIRCULATING NOTE' below. The denomination 'One Peso' appears in the lower left and right corners. |
| Reverse lettering | ONE PESO PHILIPPINE NATIONAL BANK Iloilo City, Philippines, Dec. 30, 1941. ONE PESO 1941 EMERGENCY CIRCULATING NOTE One Peso |
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| Comments |
The Philippine National Bank's Iloilo branch issued this emergency note in 1941 under wartime emergency currency provisions, part of a broader decentralized effort to keep money circulating across the archipelago as Japanese invasion became increasingly likely. Branch-issued PNB notes from this period are distinct instruments — authorized locally, printed locally, and redeemable locally, which is why the issuing city appears prominently on the face rather than Manila.
Most Iloilo branch issues were rapidly pulled from circulation or destroyed following the Japanese occupation of Panay in April 1942, making survivors genuinely uncommon.