20 Pesos

The Negros Emergency Currency Board was one of several provincial guerrilla currency authorities operating in the Philippine islands during the Japanese occupation. These boards issued notes to sustain local economies outside Japanese monetary control — a deliberate act of economic resistance, not merely administrative necessity. Negros Occidental maintained one of the more organized guerrilla governments in the archipelago, with functioning civil administration backed by American officers who had not surrendered.

Emergency issues from Negros are notably prone to foxing and paper deterioration due to the crude local materials used — wood-pulp stocks sourced under wartime conditions were never archival quality. Collectors should expect this as endemic to the type, not individual mishandling.