5 Centavos

Municipal emergency scrip from the Japanese occupation of the Philippines. When Japanese military currency was imposed and pre-war Philippine Commonwealth notes were suppressed, many local governments — particularly in the Visayas — issued their own fractional guerrilla or civilian emergency notes to keep small commerce functioning. Loon is a municipality on the island of Bohol, and its 1943 scrip belongs to that improvised local response.

Bohol's municipal issues are among the more obscure of the occupation-period Philippines emissions. Authentication matters here — forgeries and later commemorative reproductions of provincial scrip circulate in the collector market.