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20 Pesos

Issuer Mindanao Emergency Currency Board
Year 1943-1944
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Value 20 Pesos
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Obverse lettering TWENTY PESOS TREASURY EMERGENCY CURRENCY CERTIFICATE BY AUTHORITY OF THE PRESIDENT OF THE COMMONWEALTH OF THE PHILIPPINES THIS CERTIFIES THAT THE COMMONWEALTH GOVERNMENT OF THE PHILIPPINES WILL REDEEM THIS CERTIFICATE AT FACE VALUE UPON TERMINATION OF EMERGENCY TWENTY PESOS MINDANAO EMERGENCY CURRENCY BOARD TWENTY PESOS
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Reverse lettering ISSUED BY THE MINDANAO EMERGENCY CURRENCY BOARD PHILIPPINES TWENTY PESOS THIS NOTE IS REDEEMABLE AT FACE VALUE AFTER THE EMERGENCY AND WILL NOT BE DEVALUATED OR DISCRIMINATED AGAINST KINING SAPI-A KAILISAN SUMALA SA IYANG BILI TAPUS ANG KAGUBUT UG DILI KAKUBSAN NI KAAYRAN COUNTERFEITING OF THIS NOTE WILL BE SEVERELY PUNISHED MABUG-AT NGA SILOT IPAHAMTANG SA MAGA KAWAT PAG SUNDOG NING SAPIA
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Comments

The Mindanao Emergency Currency Board was one of several provincial bodies that issued guerrilla currency during the Japanese occupation of the Philippines. These notes were explicitly backed by the authority of the Commonwealth government-in-exile and the confidence that American forces would return — a gamble that, in Mindanao's case, proved correct. Japanese authorities considered possession of such notes a punishable offense, which shaped how they were carried and concealed.

The S489 series is among the better-documented Mindanao issues, with Saguin's chairmanship providing administrative continuity across the 1943–44 production run. Surviving examples frequently show folds consistent with being folded small for concealment rather than ordinary pocket wear.

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