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5 Pesos
| Issuer | Province of Cagayan / Treasury |
|---|---|
| Year | |
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| Composition | Paper |
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|---|---|
| Obverse lettering | EMERGENCY CERTIFICATE CAGAYAN FIVE PESOS 50036 |
| Reverse description | The reverse carries a landscape vignette spanning the full width of the note, with mountains, tropical vegetation, and architectural elements visible at left and right. A green overprint reads 'COMMONWEALTH OF THE PHILIPPINES / CAGAYAN' in the upper centre, below which appear two lines of authorisation text and a redemption clause. Large 'V' (Victory) devices occupy each corner within the guilloche border, and 'FIVE PESOS' is printed along the lower margin. |
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| Comments |
Philippine provincial emergency notes are frequently misattributed or poorly documented, but the Cagayan series is reasonably well-established as wartime guerrilla currency issued during the Japanese occupation of the Philippines, 1942–1945. Provincial and local governments across Luzon improvised their own notes after the Japanese-sponsored fiat peso displaced Commonwealth currency — Cagayan's Treasury issues were among the more formally organized of these local efforts.
Surviving examples are often found with staining or fold damage consistent with active field use, which is exactly what these notes saw.