10 Centavos

Loon is a municipality on the island of Bohol in the central Philippines. During the Japanese occupation, the national government's currency system collapsed at the local level, and hundreds of municipalities across the archipelago issued their own emergency guerrilla or civil notes to keep small transactions functioning. Loon's 10 centavos issue from 1943 is one of these hyper-local wartime scrip pieces — authorized and redeemable only within the issuing municipality's jurisdiction.

Philippine municipal emergency notes from this period vary enormously in printing quality and survival rates, as most were produced on whatever materials were available and redeemed or destroyed when regular currency was restored after liberation in 1944–45.