10 Cents Japanese Government

The Japanese Military Currency series issued from 1942 onward was produced specifically for occupied territories across Southeast Asia and the Pacific. These notes were legal tender by military decree — the occupying forces required locals to accept them while simultaneously draining real currency and goods from occupied economies. No gold or silver backing was ever offered, and no redemption mechanism existed after Japan's defeat.

The Allied powers refused to honor these obligations after 1945, leaving enormous quantities worthless overnight. Surviving examples in any condition are common; the printing runs were vast and the notes saw limited actual wear in many regions before the collapse.