2 Pesos

The Mindanao Emergency Currency Board was one of several provincial bodies that issued guerrilla currency after the fall of the Philippines to Japanese forces in 1942. These notes were produced under occupation conditions to sustain local economies in areas where Filipino and American resistance remained active — Mindanao being one of the last regions to fall and among the most persistently contested.

Genuinely circulated examples are common; the paper stock and printing conditions were crude by necessity. What matters to collectors is the issuing authority's stamp integrity and whether the serial numbering is clear, as counterfeits — some contemporary, some modern — are a known problem across the entire Philippine guerrilla currency series.