10 Pesos

The Mindanao Emergency Currency Board was one of several Philippine provincial bodies that issued guerrilla currency during the Japanese occupation. These notes were produced under extraordinarily difficult conditions — paper stocks were improvised, printing equipment was whatever could be hidden or salvaged, and the entire operation carried real danger for those involved. Japanese forces actively sought to suppress guerrilla finance, and possession of these notes could mean death.

The S488 series is among the better-documented Mindanao issues, though attribution within the broader S480s range remains contested in specialist literature due to inconsistent overprint and serial numbering practices across different issuing localities.