1 peso 1944

Common. Market pricing data from RealBanknotes shows AU examples trading in the $20-161 range, with multiple sales data points indicating this is an actively traded note with established collector interest but no scarcity premium. The 1944 emergency peso series from various Philippine locations was produced in significant quantities to meet wartime circulation needs. The specific Iloilo variety is not noted as rare or short-run in standard catalogs. The Pick S339 designation as a regular issue (not a pattern or trial note) and the availability of multiple comparable sales confirm common status.

This note was issued May 1, 1944, during the Japanese occupation of the Philippines in World War II, authorized by presidential decree as an Emergency Circulating Note. The Iloilo City currency committee designation and local authority signatures reflect the decentralized, emergency nature of currency issuance during wartime when normal central banking operations were disrupted. The red overprint stamp and emergency designation distinguish these local Iloilo committee notes from other Philippine emergency currency of the same period.

The note features classical Philippine emergency currency design of the 1944 period with ornamental border frames and decorative corner geometric patterns in black ink on tan/beige paper. The front displays the denomination prominently with a red overprint security stamp featuring a Philippine map design positioned across the center. The reverse shows a large central numeral '1' surrounded by decorative corner ornaments and bottom border designs. No portraits appear on either side. The Iloilo City location identifier on the reverse and local committee signatures on the front are the key distinguishing features of this Iloilo-specific variety. The 'Emergency Circulating Note of 1944' designation and presidential authorization statement establish its wartime emergency issue status.

FRONT SIDE: 'THE Philippine National Bank' / 'ONE PESO' (top and bottom) / 'Series of 1944' / 'WILL PAY THE BEARER ON DEMAND' / 'In Lawful Currency of the Philippines' / 'ILOILO CURRENCY COMMITTEE' with signatures of 'Odesario, Acting Prov. Auditor' / 'Arturo Demetrio Simson, Acting Manager P.N.B., Iloilo' / 'Acting Prov. Fiscal' / Serial numbers: 1166927 and 1199921. REVERSE SIDE: 'ONE PESO' / 'PHILIPPINE NATIONAL BANK' / 'Iloilo City, Philippines' / 'May 1, 1944' / 'By Authority of the President of the Philippines' / 'Emergency Circulating Note of 1944' / 'PESO' (repeated vertically on left and right margins).

Letterpress printing on cream/tan colored paper stock. The note exhibits characteristics typical of Philippine emergency currency printing during WWII: simple black line engraving for borders and ornamental designs, separately applied red overprint stamp (visible on front with Philippine map), and typed or engraved signature lines. The printing quality and technique reflect the limited resources and emergency conditions of 1944 Philippine currency production. Security printer attribution is not definitively established from catalog data, though Philippine National Bank's own facilities or contracted local printers likely produced these emergency notes.

This is specifically the Iloilo City Currency Committee variety of the 1944 emergency peso, identifiable by: (1) The 'ILOILO CURRENCY COMMITTEE' imprint on the front; (2) Signature of Arturo Demetrio Simson as 'Acting Manager P.N.B., Iloilo'; (3) The May 1, 1944 date with Iloilo City location on reverse; (4) Serial numbers in the 1166927-1199921 range (Iloilo series block). Other Philippine locations (Manila, Cebu, etc.) issued separate emergency 1 peso notes with different committee designations and authority signatures. The red overprint Philippine map stamp is standard for this emergency issue type. No significant sub-varieties within the Iloilo Iloilo committee issue are documented in standard references.