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50 Centavos

Issuer Central Bank of the Philippines
Year 1954-1957
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Printer Thomas De La Rue & Company, Limited, London
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Obverse lettering CENTRAL BANK OF THE PHILIPPINES THIS NOTE IS A LIABILITY OF THE CENTRAL BANK AND IS FULLY GUARANTEED BY THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES FIFTY CENTAVOS THIS NOTE IS LEGAL TENDER IN THE PHILIPPINES FOR ALL DEBTS PUBLIC AND PRIVATE 50
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Reverse lettering PHILIPPINES FIFTY CENTAVOS THOMAS DE LA RUE & COMPANY, LIMITED, LONDON
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The P#131 series was part of the Philippines' first issue under the Central Bank, established in 1949 to replace the Philippine National Bank's currency function. Thomas De La Rue printed the entire series for the young republic — a common arrangement for newly sovereign states in the early postwar decades that lacked domestic intaglio infrastructure.

The 50 centavos denomination circulated heavily through the mid-1950s and suffered accordingly. High-grade survivors are notably scarcer than the peso denominations from the same series.