1 Peso

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.