20 Centavos

Philippine municipal emergency notes issued during the Japanese occupation in 1943 are among the more historically charged local currency issues of the Pacific War. With the Philippine Commonwealth peso system disrupted and Japanese Military pesos widely distrusted, dozens of municipalities issued their own guerrilla or emergency scrip to keep local commerce functional.

Salcedo — a municipality in Eastern Samar — was among the smaller issuers, which makes provincial survival rates for these notes particularly low. Paper, humidity, and the chaos of liberation combined against them.