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5 Centavos
| Issuer | Japanese Government |
|---|---|
| Year | 1942 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Log in to see details |
| Size | 100 × 48 mm |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | 5 |
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| Variants | P#103a - 2 Block letters P#103b - fractional Block letters |
| Comments |
Japan issued this note for occupation use in the Philippines following the fall of Corregidor in May 1942. The series — running from 1 centavo to 10 pesos — was produced quickly to replace U.S.-administered Philippine currency and assert administrative control over a civilian economy still largely functioning on pre-war American colonial pesos. Filipinos called the entire occupation issue "Mickey Mouse money," a contempt that sharpened as hyperinflation set in after 1943.
The 5 centavo denomination saw enormous print runs but little actual purchasing power by the war's end — a unit of rice cost thousands of pesos by 1945.