Catalog
5 Pesos
| Issuer | Philippine National Bank, Iloilo City |
|---|---|
| Year | 1941 |
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| Value | 5 Pesos |
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|---|---|
| Obverse lettering | PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF 1941 ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND FIVE PESOS In Lawful Currency Of The Philippines ILOILO CURRENCY COMMITTEE Prov. Auditor Member Manager Phil. Nat. Bank Chairman Prov. Fiscal Member SERIES OF 1941 5 PESOS |
| Reverse description | The reverse is printed entirely in red on a dense diamond-pattern guilloche ground, with large Roman numeral 'V' devices at each corner. The central horizontal panel, reserved in white, carries the bold red inscription 'FIVE PESOS' in large capitals, flanked on either side by the denomination in smaller text. The legend 'PHILIPPINE NATIONAL BANK' arches across the upper portion, with the issuing city and date 'Iloilo City, Philippines, Dec. 30, 1941' below it, and 'EMERGENCY CIRCULATING NOTE' curves along the lower margin above the year '1941'. |
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| Comments |
The Philippine National Bank's wartime emergency branches issued their own circulating notes when Japanese forces disrupted normal banking operations and Manila-sourced currency became unavailable. The Iloilo branch series was among several provincial emergency issues authorized in 1941, each locally printed under conditions that varied dramatically by region — accounting for the significant paper and impression inconsistencies seen across surviving examples of this series.
Iloilo City fell to Japanese forces in December 1941, making the circulation window for this note extremely brief. Many were redeemed, destroyed, or simply lost in the chaos of the occupation, which is why intact examples are genuinely uncommon.