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50 Centavos

Issuer Philippine National Bank, Iloilo City
Year 1944
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Currency Peso (1903-1949)
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Obverse lettering CENTAVOS
THE
Philippine National Bank
WILL PAY THE BEARER ON DEMAND
FIFTY CENTAVOS
In Lawful Currency of the Philippines
ILOILO CURRENCY COMMITTEE
Actg. Prov. Auditor
Actg. Manager P.N.B., Iloilo
Actg. Prov. Fiscal
SERIES OF 1944
Reverse description The reverse is printed in black on plain paper with a simple decorative border incorporating the word 'CENTAVOS' repeated along all four edges and large corner numerals '50'. The upper centre carries the bank name in bold type, below which the place and date of issue — 'Iloilo City', 'Philippines', 'May 1', '1944' — flank an oversized numeral '50'. A two-line authority clause at the foot reads 'By Authority of the President of the Philippines / Emergency Circulating Note of 1944'.
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Comments

The Philippine National Bank's Iloilo branch issued this emergency currency during the Japanese occupation, when the Japanese military administration had already flooded the Philippines with its own occupation pesos. Local branch emergency notes like this one were part of a fragmented effort by pre-war Filipino institutions to maintain some continuity of exchange outside the occupier's monetary system. Iloilo, on Panay island, was a significant regional commercial center, which gave the branch both the need and the standing to issue local scrip.

Locally printed under wartime conditions, paper quality and impression consistency vary considerably across surviving examples — not a grading observation, but a known production reality for the series.

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