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2 Pesos Emergency Script of the Philippines
| Issuer | Sub-province of Apayao |
|---|---|
| Year | 1943 |
| Type | Local banknote |
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| Obverse description | Printed on aged paper in black typeface, the obverse carries the denomination "P2.00" at the upper left, center, and right within a border of repeated circular ornamental units forming a guilloche-style frame. The central text block announces the Emergency Script authorization by the President of the Philippines, with three handwritten signatures below identifying the Treasurer, Auditor, and Deputy Governor. The denomination "TWO PESOS" and "P2.00" are repeated along the bottom margin. |
|---|---|
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| Reverse description | The reverse is printed in black on plain paper, enclosed by the same repeating circular ornamental border as the obverse. The central text certifies that two pesos will be payable to the bearer on demand in silver currency or in legal tender currency of the United States of equivalent value. A handwritten serial number and the series designation "A" appear at the lower portion, with the denomination "P2.00" and "TWO PESOS" repeated in each corner and along the top and bottom margins. |
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| Comments |
Apayao was among the most isolated of the Mountain Province sub-divisions when Japanese forces occupied the Philippines in 1942. Cut off from Manila and the collapsed Commonwealth banking system, local governments across the Cordillera issued their own emergency currency to keep commerce moving — Apayao's series being among the rarer survivals from that network.
These guerrilla-era notes were printed on whatever paper was available locally, which accounts for the significant variation in stock quality seen across the series. The Pick S125 designation places this within the broader Philippine emergency issues documented by Shafer and Shafer, though Apayao examples surface far less frequently at auction than those from larger provincial issuers like Cebu or Iloilo.