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20 Pesos Mountain, Victory, Central Bank
| Issuer | Central Bank of the Philippines |
|---|---|
| Year | 1949 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | Orange-tan letterpress design with a central guilloche medallion incorporating the Philippine coat of arms, surrounded by elaborate scroll-work border. A bold black overprint of VICTORY spans the centre of the note, with CENTRAL BANK and OF THE PHILIPPINES printed in red above and below respectively. Denomination numerals 20 appear in each corner, and TWENTY PESOS is lettered in the bottom panel. |
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| Signature(s) | Sergio Osmeña & J. Hernandez Manuel Roxas & M. Guevara |
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| Comments |
The Victory series takes its name from the "VICTORY" overprint applied to Commonwealth-era Philippine notes during the immediate postwar period — a stopgap measure while new designs were prepared. P#121 belongs to the subsequent Central Bank series, the first notes issued under the authority established by Republic Act 265 in 1948, which created the Central Bank of the Philippines and ended the currency arrangement under the Philippine National Bank.
Two signature combinations exist for this type. The Osmeña/Hernandez pairing is the scarcer of the two, reflecting a shorter administrative tenure.