20 Centavos

The Mindanao Emergency Currency Board was one of several provincial and municipal authorities that issued guerrilla currency during the Japanese occupation of the Philippines. These notes circulated in areas where resistance forces maintained enough territorial control to make local scrip practical — Mindanao, with its dense interior and active guerrilla networks, was one of the more durable holdouts. The Japanese occupation administration considered possession of such notes a punishable offense.

Three signatures appear on this issue, which was typical for the Board's accountability structure under wartime conditions. Survival rates for Mindanao guerrilla notes vary sharply by district and denomination — some issues were hastily printed on whatever paper was at hand, making them inherently fragile.