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5 Pesos
| Issuer | Japanese Government |
|---|---|
| Year | 1942 |
| Type | Standard circulation banknote |
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| Obverse description | A central vignette presents a circular inset of a tropical plantation path lined with palm trees, with cattle visible in the foreground. A large guilloche underprint of the numeral "V" occupies the left-center field, flanked by the bold legend "THE JAPANESE GOVERNMENT" across the top and "FIVE PESOS" along the bottom. The denomination numeral "5" appears in each corner, with series letters "PD" printed in red at lower left and lower right, and a Japanese character inscription running along the bottom margin. |
|---|---|
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| Reverse description | The reverse is printed entirely in orange-brown ink and dominated by a bold, ornate letterpress rendering of the word "FIVE" in large decorative capitals at center, overlaid with the inscription "FIVE PESOS" in smaller text. The design is framed by elaborate scrollwork and foliate guilloche borders, with the numeral "5" positioned at upper left, upper right, and lower corners within the decorative surround. |
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| Comments |
Issued by the Japanese military administration during its occupation of the Philippines, this note was part of a currency system imposed to replace pre-war Commonwealth pesos and redirect local economic activity toward Japanese war aims. The occupation authorities printed enormous quantities, and the resulting inflation was severe — Filipinos came to call these notes "Mickey Mouse money," a phrase that captured both the contempt and the desperation of wartime commerce.
By 1944, hyperinflation had rendered the series nearly worthless in practice. The term entered Philippine vernacular permanently.