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1 Peso

Issuer Philippine National Bank, Lanao Agency
Year 1942
Type Standard circulation banknote
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Obverse description Plain unadorned note with a simple typeset layout on white paper. The central text reads 'The Lanao Agency of the Philippine National Bank will pay to the bearer on demand the amount of this PHILIPPINE NATIONAL BANK Emergency Circulating Note of ONE PESO', with 'Series of 1942' and serial number appearing in two positions. At the lower portion, three signature blocks are designated for Prov'l. Treasurer (Chairman), Act'g. Prov'l. Fiscal (Member), and Prov'l. Auditor (Member), with 'Issued by Lanao Currency Committee' printed above them. Corner denominational markers read 'PE 1 SO' within ruled borders.
Obverse lettering The Lanao Agency of the Philippine National Bank will pay to the bearer on demand the amount of this
PHILIPPINE NATIONAL BANK
Emergency Circulating Note
of
ONE PESO
Series of 1942
Issued by Lanao Currency Committee
PROV'L. TREASURER CHAIRMAN
ACT'G. PROV'L. FISCAL MEMBER
PROV'L. AUDITOR MEMBER
PE 1 SO
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Comments

The Philippine National Bank's wartime emergency branches are among the most fragile chapters in Filipino monetary history. When the Japanese invasion forced the PNB to operate through outlying provincial agencies in 1942, Lanao — a Muslim-majority lake district in Mindanao — was issuing its own locally authorized notes almost entirely outside Manila's administrative reach. The agency issues were stopgap instruments, printed under dire conditions with whatever materials were available, and the Lanao series is among the scarcest of the lot.

Survivorship is low. Notes that did circulate were subject to the humidity and physical wear of wartime Mindanao, and many were simply destroyed or lost as the occupation tightened.

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