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5 Pesos
| Issuer | Philippine National Bank / Iloilo Currency Committee |
|---|---|
| Year | 1942-1944 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Peso (1941-1945) |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | FIVE PESOS PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF 1942 ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES SERIES OF 1942 THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND FIVE PESOS IN LAWFUL CURRENCY OF THE PHILIPPINES ILOILO CURRENCY COMMITTEE PROV. AUDITOR MEMBER ACTG. MGR. P.N.B. ILOILO CHAIRMAN PROV. FISCAL MEMBER MacArthur |
| Reverse description | The reverse is printed entirely in red-orange on buff paper, centred on a large numeral 5 within an ornate guilloche oval cartouche. The bank name appears in a scroll banner across the top, with handwritten place and date inscriptions reading Iloilo City, Philippines and December 30, 1942 flanking the central vignette. Decorative corner devices bearing V motifs and FIVE PESOS tablets frame the composition, with the legend EMERGENCY CIRCULATING NOTE OF 1942 in a lower banner. |
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| Comments |
The Iloilo Currency Committee was one of several provincial emergency currency bodies that sprang up across the Philippine islands in the wake of the Japanese invasion, when the retreating Commonwealth government and disrupted banking infrastructure left local economies starved of circulating money. The Philippine National Bank lent its name and authority to these provincial issues, but production was entirely local — improvised printing on whatever paper and equipment was available in Iloilo City at the time.
Notes from this series are frequently encountered with uneven inking and registration problems, not as damage but as manufactured conditions. The wartime guerrilla currency connection also means many survivors were hidden for months or years, affecting paper quality in characteristic ways — foxing and fold-set are common, brittleness less so.