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100 Pesos Treasury certificate, Commonwealth seal

Issuer Bureau of the Treasury, Philippines
Year 1936
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Value 100 Pesos
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Obverse description Intaglio-printed note with a vignette of Ferdinand Magellan at left, set against an ornate guilloche underprint in yellow and black. The large denomination numeral and the word PESOS are printed in bold letterpress at center, flanked by decorative sea-dragon scrollwork at both margins. The Commonwealth of the Philippines red Treasury seal appears at right, with two facsimile signatures of the President and Treasurer below center.
Obverse lettering TREASURY CERTIFICATE THIS CERTIFIES THAT THERE HAS BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINES ONE HUNDRED PESOS BY AUTHORITY OF AN ACT OF THE PHILIPPINE LEGISLATURE APPROVED BY THE PRESIDENT OF THE UNITED STATES JUNE 13, 1922 PAYABLE TO THE BEARER ON DEMAND IN SILVER PESOS OR IN LEGAL TENDER OF THE UNITED STATES OF EQUIVALENT VALUE
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The Commonwealth of the Philippines came into existence on 4 November 1935, and this series — bearing the new Commonwealth seal rather than the old Insular Government imprint — marks the monetary transition that accompanied that change in political status. The Bureau of the Treasury, not a central bank, remained the issuing authority; the Philippines would not establish the Bangko Sentral until 1949.

Printed by the BEP in Washington, as the colonial series had been throughout the American period. The Japanese occupation beginning December 1941 rendered these notes effectively stranded — the Commonwealth government in exile could not redeem or replace them, and large quantities were deliberately destroyed by retreating forces to prevent capture.