1942 series. Pick (World Paper Money, specialized issues) #S641.

These issues were part of the broader category of emergency or guerrilla currency authorized by the Philippine Commonwealth government in exile - a stopgap currency created by provincial authorities to pay salaries and civil-military expenses once normal banking and national currency issuance had been disrupted by the war.

During World War II in the Philippines, as Japanese forces occupied much of the country from 1942 onwards, guerrilla and “free” governments in unoccupied or partially controlled areas issued their own money to fund administration and resistance. The Japanese occupation forces made the possession of this currency illegal and in some cases punishable by death. One well-known example is the Free Negros Military currency issued on Negros Island under the authority of the Free Negros Military Currency Committee associated with U.S. Army and guerrilla operations. These local paper notes - in denominations such as 1, 2, 5, 10 and 20 pesos - were printed in 1943 with inscriptions promising payment in lawful U.S. or Philippine currency and were backed by the IV Philippine Corps or the 7th Military District as part of the broader effort to sustain civil government and economic life outside Japanese control.

After the war, and with the restoration of the Commonwealth and then Republic of the Philippines, this military/guerrilla currency was demonetized and ceased to be legal tender, but today it remains of interest to collectors and historians as a tangible reminder of how local communities and resistance forces improvised financially under occupation.