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10 Pesos Victory
| Issuer | Treasury of the Philippines |
|---|---|
| Year | 1944 |
| Type | Standard circulation banknote |
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| Obverse description | Intaglio-printed portrait of George Washington in an oval vignette at left, rendered in dark blue-black on a tan guilloche underprint. The centre carries the large bold legend PHILIPPINES / TEN PESOS above the promise-to-pay clause, with an orange safety underprint behind the signature panel. The circular blue seal of the Commonwealth of the Philippines, countersigned by the United States of America, appears at right, flanked by the numeral 10 in each lower corner and the VICTORY SERIES NO. 66 overprint at bottom centre. |
|---|---|
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| Reverse lettering | TEN PESOS TEN PHILIPPINES PESOS VICTORY 10 |
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| Comments |
The Victory series was prepared in Washington before the liberation of the Philippines and rushed into use as Allied forces retook the islands from late 1944 onward. The overprint "VICTORY" was added specifically to distinguish these notes from the Japanese Military Administration issues that had flooded the economy during the occupation — a psychological as much as a monetary measure, since public confidence in paper currency had been badly damaged by wartime inflation and forced acceptance of occupation scrip.
Counterfeiting of occupation currency by both Filipino guerrillas and U.S. intelligence had been systematic enough that distinguishing legitimate postwar tender required something unambiguous. The single word did that work efficiently.