Philippine National Bank: Misamis Occidental

1942 1st Emergency Circulating Note Issue

White Paper Hand Signed

S571 1942 50 Centavos
Orange, Serial #1 to #30,000

#27792

During World War II, local Philippine governments and banks printed emergency circulating notes, known as "guerrilla pesos" or "guerrilla notes", to maintain the local economy and resist Japanese occupation forces. 
Crafted from crude paper, stamps, and vegetable inks, these illegal bills symbolized freedom but carried a death penalty risk if discovered by occupiers.

WW2 emergency money Philippines, guerrilla pesos, and Philippine resistance currency.
Production Methods: Local boards used scrap paper, woodcuts, and low-grade ink.
Regional Issuances: Distinct provincial notes came from Cebu, Bohol, Negros, and Iloilo.
Legal Status: Outlawed by the occupying Japanese and puppet government, but later redeemed post-war.
Collector Value: Highly sought-after historical artifacts and wartime memorabilia today

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