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2 Pesos
| Issuer | Philippine National Bank, Iloilo City |
|---|---|
| Year | 1942 |
| Type | Standard circulation banknote |
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| Obverse description | Blue on light paper, the obverse bears a central text block with the promise-to-pay legend and denomination TWO PESOS in bold lettering, flanked by guilloche corner panels each inscribed '2 PESOS'. A small vignette of a Filipino figure in traditional attire appears to the left, while a circular Philippine National Bank seal is applied to the right. Three signature lines for the Iloilo Currency Committee — Member, Acting Manager/Chairman, and Member — appear along the lower portion, with the series designation and a handwritten serial number in red at upper right. |
|---|---|
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| Reverse lettering | TWO PESOS Philippine National Bank 2 PESOS Iloilo City, Philippines December 30, 1942 Emergency Circulating Note of 1942 TWO PESOS 2 PESOS |
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| Comments |
The Philippine National Bank's Iloilo branch began issuing emergency guerrilla currency shortly after the Japanese occupation of Manila in early 1942 forced provincial branches to act independently. Iloilo City, on Panay Island, remained temporarily under Filipino administration before Japanese forces landed in April 1942, giving the branch a narrow operational window to authorize and distribute these notes locally.
Printed under improvised conditions rather than by any established security printer, the S312 series is regionally specific — the "S" prefix in the Pick catalog denoting provisional or emergency status. Paper quality and print registration vary considerably across surviving examples, a direct consequence of the circumstances under which they were produced.