2 Pesos

The Mindanao Emergency Currency Board was one of several provisional civilian authorities that issued guerrilla currency in the southern Philippines following the Japanese occupation of 1942. These notes were produced under genuine wartime conditions — scarce materials, no professional printing infrastructure, and the constant threat of discovery. Possession of guerrilla currency was treated by Japanese forces as a punishable offense, which limited both circulation and survival rates.

Mindanao issues are among the more varied of the Philippine emergency series, with paper quality and printing consistency differing noticeably across batches.