1000 Pesos

The Japanese Military Administration in the Philippines issued increasingly high denominations as the occupation wore on and inflation accelerated. By 1945, a 1000 Peso note represented a last-ditch attempt to sustain purchasing power in a collapsing wartime economy — Filipino civilians had already taken to calling Japanese occupation currency "Mickey Mouse money," a measure of how thoroughly confidence had evaporated.

Printed without serial numbers, the note was produced cheaply and in enormous quantity. After liberation, the entire series was demonetized by the restored Commonwealth government with no provision for redemption.