10 Centavos

Philippine National Bank emergency notes issued through provincial and regional agencies in 1942 were a direct response to the Japanese occupation, which disrupted the supply of centrally printed currency almost immediately after the fall of Manila in January of that year. The Misamis Occidental Agency operated on the northern coast of Mindanao, a region that remained under tenuous Filipino and American guerrilla control for longer than many areas of Luzon — which is precisely why a provincial branch could still authorize and circulate its own notes at all.

Three signatories on a low-denomination emergency note is unusual and points to local institutional caution: multiple countersignatures were a hedge against forgery and unauthorized issue in circumstances where no central authority could audit the branch quickly.