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5 Pesos With overprint

Issuer Philippine National Bank
Year 1919
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Value 5 Pesos
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Obverse description A classical allegorical seated female figure occupies the left vignette, rendered in intaglio engraving against a fine guilloche underprint. The central field carries the denomination legend and place of issue in bold letterpress, with a heavy black overprint band applied across the upper portion of the note. Two manuscript signatures and a serial number appear in the lower register, with a circular seal visible at the right.
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Reverse lettering THE PHILIPPINE NATIONAL BANK
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Comments

The Philippine National Bank was established in 1916, and its early note issues ran into immediate supply problems — the bank had to issue provisional notes by overprinting existing stock rather than waiting on fresh printings. This particular overprinted 5 Pesos is a product of that scramble, with the PNB stamp applied to notes originally produced under a different authorization.

Overprinted PNB issues from this period are genuinely scarcer than their face-printed counterparts, largely because the overprint runs were short and the notes themselves were quickly absorbed into the heavy commercial circulation that characterized Manila banking in the late colonial period.

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