100 Pesos

The President Quezon's Own Guerrillas were a recognized guerrilla unit operating in the Visayas under II Corps command during the Japanese occupation of the Philippines. Their emergency currency issues of 1944 fall into a category the Philippine Commonwealth government-in-exile actively encouraged — local commanders were authorized to print scrip to sustain operations and maintain civilian economic activity in areas beyond Japanese administrative reach.

P#S448 sits at the higher end of the PQOG denomination range, which made it more useful for bulk transactions with suppliers than for everyday exchange. High-denomination guerrilla notes frequently saw limited hand-to-hand circulation and were redeemed or destroyed after liberation — survivors tend to show either heavy use or almost none.

Redemption was officially processed after 1945 under U.S. Army and Commonwealth authority, though not all claims were honored in full.