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20 Pesos

Issuer Negros Emergency Currency Board
Year 1943
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Composition Paper
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Obverse lettering TREASURY EMERGENCY CURRENCY CERTIFICATE ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES THIS CERTIFIES THAT THE COMMONWEALTH OF THE PHILIPPINES WILL REDEEM THIS CERTIFICATE AT FACE VALUE UPON TERMINATION OF EMERGENCY TWENTY PESOS PAYABLE TO THE BEARER ON DEMAND IN SILVER PESOS OR IN LEGAL TENDER CURRENCY OF THE PHILIPPINES NEGROS EMERGENCY CURRENCY BOARD
Reverse description Plain typeset reverse within a decorative guilloche border matching the obverse, with denomination numerals '20' and 'PESOS' at the upper corners and 'XX' at the lower corners. The central area carries the face value legend in large bold letterpress type, with the circular Commonwealth of the Philippines seal visible as an underprint at left.
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Comments

The Negros Emergency Currency Board was one of several provincial authorities that issued guerrilla currency in the Philippines during the Japanese occupation. These notes were produced under active wartime conditions on whatever materials were available locally — paper quality and printing consistency vary considerably within the series, and genuine examples often show the irregularities that come with improvised production rather than a central mint.

Japanese forces treated possession of guerrilla currency as a serious offense, which shaped how these notes circulated: passed quickly, often hidden, rarely accumulated in quantity by any single holder. Survival rates are uneven across denominations.

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