5 Centavos

Tubigon is a coastal municipality on the island of Bohol in the central Philippines. During the Japanese occupation, the Philippine Commonwealth government-in-exile and hundreds of local municipalities issued their own emergency currency, known collectively as guerrilla or emergency notes. The Tubigon Change Board operated under this framework — local authorities printing fractional denominations to keep small commerce moving when official coinage had vanished from circulation.

5-centavo fractional notes from small municipal issuers like Tubigon are among the more perishable survivors of this period. The paper was typically poor, the print runs small, and survival rates low.