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2 Pesos
| Issuer | Philippine National Bank (Iloilo Currency Committee) |
|---|---|
| Year | 1942 |
| Type | Local banknote |
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| Obverse description | Blue letterpress note with a vignette of a Filipino man (tao) in traditional attire at left, flanked by cornerpiece numerals reading '2 PESOS'. The circular seal of the Philippine National Bank appears at right center, with three manuscript signatures below the central text block identifying the Acting Manager, Chairman, and a Member of the Iloilo Currency Committee. The serial number appears in red at upper right. |
|---|---|
| Obverse lettering | TWO PESOS PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF 1942 ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND TWO PESOS IN LAWFUL CURRENCY OF THE PHILIPPINES ILOILO CURRENCY COMMITTEE TWO PESOS |
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| Comments |
The Iloilo Currency Committee was one of several improvisational local bodies that sprang up across the Philippine archipelago in the weeks following the Japanese invasion of December 1941. With Manila banks inaccessible and the Commonwealth peso supply disrupted, provincial authorities in Panay issued their own emergency currency to keep commerce functioning. The Philippine National Bank provided nominal institutional backing, but printing was strictly local — rough stock, minimal security features, and whatever presses were available.
These Iloilo emergency notes circulated only briefly before Japanese occupation authorities suppressed them in favor of the Military Peso. Survivors tend to show hard use.