50 Centavos

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.