Catalog
5 Centavos
| Issuer | Philippine National Bank - Cebu Currency Committee |
|---|---|
| Year | 1941 |
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| Shape | Rectangular |
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| Reverse description | The reverse is uniformly printed in black on white paper, enclosed within a decorative guilloche border matching the obverse in style, with large numeral '5' corner ornaments and vertical 'CENTAVOS' lettering along the side margins. A circular Emergency Circulating Note seal of the Cebu Currency Committee occupies the centre, bearing text noting issuance by authority of the President of the Philippines. The issuing authority and place of issue are inscribed above and below the central seal respectively. |
| Reverse lettering | PHILIPPINE NATIONAL BANK FIVE CENTAVOS EMERGENCY CIRCULATING NOTE OF 1941 ISSUED BY THE CEBU CURRENCY COMMITTEE BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES OF DECEMBER 28 1941 CEBU CITY, PHILIPPINES CENTAVOS |
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| Comments |
The Philippine National Bank's Cebu Currency Committee issued this note as an emergency measure following the Japanese invasion, when normal banking channels collapsed and the archipelago fragmented into isolated currency zones. Cebu, as the major commercial center of the Visayas, needed a locally workable medium of exchange — hence a series of low-denomination fractional notes printed under improvised conditions with whatever materials were at hand.
Locally produced under wartime duress, these notes show considerable variation in paper stock and impression quality across surviving examples — not a collector grading concern but a direct consequence of the circumstances of manufacture.