2 Pesos

The Mindanao Emergency Currency Board was one of several provincial and regional bodies that issued guerrilla currency in the Philippines during the Japanese occupation. These notes circulated in areas where American-led and Filipino resistance forces maintained administrative control, functioning as a parallel economy to the Japanese-sponsored Mickey Mouse money that officially displaced the Commonwealth peso. Acceptance was partly practical, partly a declaration of loyalty — using guerrilla currency carried real risk if Japanese patrols were encountered.

Mindanao's geography, with its dense interior and multiple active guerrilla commands, made local currency issuance more sustainable there than in most other islands. The three-signature authentication reflects the board structure typical of these emergency authorities, designed to prevent unilateral overprinting.