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World War II Banknotes used in the Philippines

Article about: During World War Two, the Japanese took over the Philippine Islands (starting the day after the Pearl Harbor attack). The Bataan Death March occurred due to this, and the Philipinos had to e

  1. #1

    Default World War II Banknotes used in the Philippines

    During World War Two, the Japanese took over the Philippine Islands (starting the day after the Pearl Harbor attack). The Bataan Death March occurred due to this, and the Philipinos had to endure years of puppet government rule and hostile occupying forces. Many of the soldiers who were not captured by the Japanese either formed or joined resistance (guerrilla) groups. These groups made their own governments and currency. The Japanese government and it's puppet government also issued their own currencies.

    Here a few examples...............
    (Most are in poor quality and I took photos through the plastic from my album, so sorry for picture quality. Many of the pictured banknotes appear to be similar, but due to different signatures etc. everyone has a different catalog number)

    Hope you like them........
    Regards JT

    Click image for larger version. 

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  2. #2

    Default Re: World War II Banknotes used in the Philippines

    Click image for larger version. 

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  3. #3

    Default Re: World War II Banknotes used in the Philippines

    Click image for larger version. 

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  4. #4

    Default Re: World War II Banknotes used in the Philippines

    These are very nice. I have some Japanese notes but have never seen some of the ones you have here.

    Thanks
    Burt
    Happiness is a belt fed weapon

  5. #5

    Default Re: World War II Banknotes used in the Philippines

    Thank you Burt

    Some more info regarding these banknotes.

    From 1941 until the ultimate liberation of the Philippine Islands by Allied Troops in 1945, emergency wartime notes were secretly and clandestinely issued as needed. Their values ranged from as little as .01c to $20 Pesos. Some provinces issued notes as large as $500 Pesos. In all, more than 1000 different varieties were issued. Remarkably, with all of these different issues, there were few reported incidents of counterfeiting. With the exception of two varieties that were widely produced, most counterfeit notes are rare and actively sought after by advanced collectors. In some cases because of shortages of paper stocks, notes were issued on the reverse of municiple forms, money order stocks, and in some cases even paper bag stocks! So many were destroyed by the Japanese or just used until they fell apart, that many are quite rare! All notes that were legally issued by established currency boards were backed by the promises of both the Philippine Government and the U.S. Treasury, of redemption after the Japanese defeat. All legally redeemed notes were recorded and subsequently burned. Most records of these redemptions were lost or destroyed over the post war years, and the actual quantities and denominations of those notes redeemed and burned no longer exist. Some issues have completely disappeared. In some cases only a few hundred notes were issued, and in others as many as millions. However, after 67 years and, who knows how many attempts to eradicate these notes, it doesn't matter how many were printed. The question is, "How many Survived"? In many cases "few", and in some cases "none". Others are quite common. One thing is for sure; they are all very collectible.

    Click image for larger version. 

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  6. #6

    Default Re: World War II Banknotes used in the Philippines

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  7. #7

    Default Re: World War II Banknotes used in the Philippines

    This topic is not the most attractive to collect, for us who like militaria in the true sense. However, they have their charm and was an important part of history from the period 1940-1945.

    Regards JT

    Click image for larger version. 

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  8. #8

    Default Re: World War II Banknotes used in the Philippines

    JT, These are really nice and the history is much more than I thought. I have quite a few if I remember 20+ and I think I just got a bunch more with a grouping I just picked up. I'll get them out after I show my museum on June 3rd and take some pictures to post. I don't think I'll have time before then to dig them out.

    Thanks

    Burt
    Happiness is a belt fed weapon

  9. #9

    Default Re: World War II Banknotes used in the Philippines

    Would appreciate it if you do that Burt

    Regards
    JT

    Click image for larger version. 

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  10. #10

    Default Re: World War II Banknotes used in the Philippines

    From Wikipedia:
    In 1942, the Japanese occupiers introduced notes for use in the Philippines. Emergency circulating notes (also termed "guerrilla pesos") were also issued by banks and local governments, using crude inks and materials, which were redeemable in silver pesos after the end of the war. The Japanese-sponsored Second Philippine Republic under Josť P. Laurel outlawed possession of guerrilla currency and declared a monopoly on the issuance of money and anyone found to possess guerrilla notes could be arrested. Because of the fiat nature of the currency, the Philippine economy felt the effects of hyperinflation.

    Combined U.S. and Philippine Commonwealth military forces including recognized guerrilla units continued printing Philippine pesos, so that, from October 1944 to September 1945, all earlier issues except for the emergency guerrilla notes were considered illegal and were no longer legal tender.

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