50 Centavos

Municipal emergency notes issued in the Philippines during the Japanese occupation are among the most historically specific paper money produced in the archipelago. Loon, a municipality on Bohol island, issued this 50 centavos note as part of the broader guerrilla currency phenomenon — local governments and resistance units printed their own scrip after the Japanese military peso was imposed and Philippine Commonwealth currency went underground.

Bohol's local emergency issues are notably scarce, as many were destroyed by their holders after liberation to avoid being found in possession of what occupying forces considered contraband currency. Survival rates are low even by Philippine guerrilla scrip standards.