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500 Pesos Treasury certificate, Green back
| Issuer | Bureau of the Treasury, Philippine Islands |
|---|---|
| Year | 1924 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Peso (1857-1967) |
| Composition | Log in to see details |
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| Designer(s) | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BY AUTHORITY OF AN ACT OF THE PHILIPPINE LEGISLATURE APPROVED BY THE PRESIDENT OF THE UNITED STATES JUNE 13, 1922 THIS CERTIFIES THAT THERE HAS BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINE ISLANDS FIVE HUNDRED PESOS PAYABLE TO THE BEARER ON DEMAND IN SILVER OR IN GOLD COIN OF THE UNITED STATES OR EQUIVALENT VALUE TREASURY CERTIFICATE |
| Reverse description | Log in to see details |
| Reverse lettering | TREASURY CERTIFICATE PHILIPPINE ISLANDS FIVE HUNDRED PESOS 500 |
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| Comments |
The Philippine Islands Treasury Certificate series of the 1920s occupied an awkward constitutional position: issued under American colonial administration by a local Bureau of the Treasury, yet designed, engraved, and printed entirely by the USBEP in Washington — the same shop producing U.S. Federal Reserve Notes simultaneously. The 500 Peso denomination was never intended for ordinary retail use; at that value it functioned almost exclusively in interbank settlements and large commercial transactions between Manila trading houses.
Pick 72 is among the rarest survivors of the series. High-denomination notes of this type were heavily targeted during the Japanese occupation for confiscation and destruction, and the subsequent 1944 guerrilla currency chaos eliminated much of what remained in circulation.