Catalog
2 Pesos Victory, Central Bank
| Issuer | Central Bank of the Philippines |
|---|---|
| Year | 1949 |
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| Currency | Peso (1857-1967) |
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| Obverse lettering | TREASURY CERTIFICATE BY AUTHORITY OF AN ACT OF THE PHILIPPINE LEGISLATURE APPROVED BY THE PRESIDENT OF THE UNITED STATES JUNE 13, 1922 THIS CERTIFIES THAT THERE HAVE BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINES TWO PESOS PAYABLE TO THE BEARER ON DEMAND IN SILVER PESOS OR IN LEGAL TENDER CURRENCY OF THE UNITED STATES OF EQUIVALENT VALUE VICTORY SERIES NO. 66 RIZAL TWO PESOS TWO PESOS PHILIPPINES |
| Reverse description | The reverse is printed entirely in blue with an intricate guilloche pattern centred on a large rosette vignette, flanked by ornamental numeral '2' panels at each corner within scalloped frames. Over this blue intaglio design, a bold red overprint in three lines reads 'CENTRAL BANK / VICTORY / OF THE PHILIPPINES', and a large black overprint of 'VICTORY' is superimposed across the centre. The words 'TWO PESOS' appear at the top and bottom borders. |
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| Comments |
The "Victory" series was introduced by the Commonwealth Government in 1944 as U.S. forces retook the archipelago, deliberately overprinted to distinguish liberated-issue currency from the Japanese Military Administration peso notes that had flooded the economy during occupation. By 1949, the newly established Central Bank of the Philippines had inherited and continued issuing notes from this same BEP-printed series under its own authority — P#118 is essentially a transitional piece, bearing the Central Bank name on currency whose design predates the institution itself.
The BEP relationship was a practical inheritance from American colonial administration, not a sovereign choice, and Manila would not achieve full domestic printing capability for decades.