Catalog
1 Peso
| Issuer | Masbate Consolidated Mining Company |
|---|---|
| Year | 1941 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | THIS TOKEN NOTE AUTHORIZED BY ACT OF THE PHILIPPINE GOVERNMENT ₱1.00 PAYMASTER OFFICE MANAGER GENERAL SUPERINTENDENT |
| Reverse description | Cream-coloured paper enclosed within a dotted border frame in green. The issuer's name 'THE MASBATE CONSOLIDATED MINING COMPANY' is printed in large arched green letterpress text across the upper half, with the denomination 'ONE PESO' centred below. The obligation legend 'WILL PAY TO THE BEARER THE SUM OF' and the authorisation line 'AS AUTHORIZED BY THE PHILIPPINE GOVERNMENT' appear in smaller green type. Denomination numerals 'P1.00' are repeated at both upper corners, and violet ink control stamps are visible overlapping the central denomination area. |
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| Comments |
The Masbate Consolidated Mining Company operated gold mines on Masbate Island in the central Philippines, and like several other resource extraction companies in the archipelago, it issued its own scrip to pay workers — a practical solution in a region where government currency was chronically undersupplied. This note predates the Japanese invasion by a matter of months; the December 1941 occupation effectively ended the company's operations and rendered the scrip worthless almost immediately.
Philippine emergency and company scrip from this period was produced in small quantities and often destroyed or lost during the war. Survivors are genuinely uncommon.