Catalog
5 Pesos
| Issuer | Philippine National Bank (Iloilo Currency Committee) |
|---|---|
| Year | 1941 |
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| Reference(s) | P#S307 |
| Obverse description | Red and dark ink emergency note printed on a fine guilloche underprint of interlocking diamond lattice. A spread-winged eagle vignette is centred at the top, set within a large red letter V formed by two diagonal lines crossing the face; the denomination FIVE PESOS is printed in bold dark letterpress at centre. The provincial seal of Iloilo appears at lower right, dated DEC 30, 1941, with the numeral 5 and the word PESOS repeated in the four corners. Three manuscript signatures appear along the lower margin, identified below as Prov. Auditor / Member, Manager Phil. Nat. Bank Iloilo / Chairman, and Prov. Fiscal / Member. |
|---|---|
| Obverse lettering | PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF 1941 ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND FIVE PESOS IN LAWFUL CURRENCY OF THE PHILIPPINES ILOILO CURRENCY COMMITTEE SERIES OF 1941 |
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| Comments |
The Iloilo Currency Committee notes were emergency issues authorized in December 1941 following the Japanese invasion, when the Philippine National Bank's Manila operations were effectively cut off. Iloilo, on Panay Island, remained temporarily beyond Japanese control, and local authorities printed these notes to keep commerce functioning in the interim. The currency committee arrangement was improvised — PNB authorization gave it a veneer of legitimacy, but the practical issuing authority was entirely local.
The series is scarce. Japanese forces reached Panay by April 1942, and most remaining notes were destroyed or abandoned rather than formally redeemed.