1 peso 1941

Common. The eBay market pricing evidence strongly supports a common classification, with numerous sales recorded across multiple condition grades ranging from $9.99 to $249.99, with Fair condition examples selling consistently in the $12.00-$21.50 range. These price points indicate steady, regular market availability. Emergency circulating notes from 1941 were produced in substantial quantities to meet wartime currency needs, and while they are now historically interesting, they were not issued in limited quantities. The presence of multiple price points and regular transactions in the market confirms this is a commonly encountered note among Philippine collectors.

This emergency circulating note was issued during World War II following executive authorization on December 29, 1941, just weeks after the Japanese attack on Pearl Harbor and the invasion of the Philippines. The Cebu Currency Committee's issuance represents the regional emergency monetary measures taken by Philippine authorities to maintain currency circulation when normal banking operations were disrupted. The note's inscription emphasizing that 'ONE PESO HAS BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINES FOR THE REDEMPTION OF THIS CERTIFICATE' reflects the government's efforts to maintain confidence in emergency currency during the Japanese occupation period.

The obverse features an ornate border design with decorative corner ornaments and a central oval cartouche containing the denomination, rendered in dark blue/navy ink on a cream-colored background. The note includes printed signature lines for the Cebu Currency Committee officials (Fiscal, Auditor, and Chairman of PNB Cebu). The reverse displays a lighter yellowish-cream tone with the Philippine National Bank's circular seal or coat of arms as the central design element, surrounded by ornamental border patterns and scrollwork with decorative corner numerals. The overall aesthetic reflects early 20th-century security printing conventions with fine line ornamental patterns intended to deter counterfeiting. No portraits or identified landmarks appear on this emergency issue design.

FRONT: 'ONE PESO' (denomination), 'PHILIPPINE NATIONAL BANK' (issuing institution), 'EMERGENCY CIRCULATING NOTE OF 1941' (note type and year), 'ISSUED BY THE CEBU CURRENCY COMMITTEE' (regional issuing authority), 'BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES' (governmental authorization), 'OF DECEMBER 29, 1941' (authorization date), 'THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND ONE PESO' (redemption promise), 'ONE PESO HAS BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINES FOR THE REDEMPTION OF THIS CERTIFICATE' (backing statement), 'FISCAL, PROVINCE OF CEBU, MEMBER' (official designation), 'AUDITOR, PROVINCE OF CEBU, MEMBER' (official designation), 'CHAIRMAN PNB CEBU' (official designation). BACK: 'PHILIPPINE NATIONAL BANK' (issuing institution in arc), 'ONE PESO EMERGENCY CIRCULATING NOTE OF 1941' (note identification in arc), central emblem/seal of Philippine National Bank.

This note was produced using letterpress or intaglio printing techniques typical of security printing from the 1941 era. The fine line ornamental borders, decorative corner elements, and relatively sharp impression visible in the front side (despite aging) are characteristic of steel plate or copper plate intaglio printing. The Philippine National Bank's seal and the central oval cartouche show the fine detail work consistent with intaglio security printing methods. The two-color printing (dark blue on front, gold/ochre tones on back) applied over the cream paper stock was standard for Philippine currency of this period. The specific printer is not definitively established from the visual analysis, though Philippine government security printers of the era would have included the Bureau of Engraving.

This specific note is identified as Pick catalog P-S215, the standard 1 peso emergency circulating note of 1941 issued by the Cebu Currency Committee. The Cebu provenance is significant, as emergency notes were issued by multiple regional currency committees in the Philippines during 1941-1942 (including Manila, Cebu, and other provincial areas). Varieties of 1941 emergency notes would typically be distinguished by issuing committee (Cebu vs. other regions), though this catalog listing appears to be the Cebu variety specifically. The red stamp markings visible on this example may represent post-issuance handling marks or treasury marks rather than printing varieties. No serial numbers or specific variety designations are clearly legible in the visual analysis provided.