1 peso 1942

Common. eBay market data shows this denomination trading across a wide range of conditions from $1.59 to $23.50 USD, with most circulated examples under $12, indicating substantial surviving supply. Mountain Province emergency notes from 1942, while historically significant, were issued in sufficient quantities to be readily available to collectors today. The AU grade specimen observed would fall in the mid-range pricing ($15-25 range based on comparative sales), confirming this is a common issue despite its interesting wartime provenance. No evidence of restricted print runs, recalls, or exceptional scarcity exists for this Pick number.

Issued during the Japanese occupation of the Philippines in 1942, this emergency note represents the Mountain Province's attempt to maintain local commerce and confidence in currency during a period of severe economic disruption. The note's explicit authority from 'the President of the Philippines and the Provincial Board of the Mountain Province' reflects the complex political situation of the Commonwealth period, while the redemption promise 'after this Emergency' acknowledges the temporary and extraordinary nature of the currency. These provincial emergency notes were critical financial instruments when standard currency was scarce or unreliable during the occupation.

A formal emergency currency certificate design typical of provincial wartime issues. The front features a classical ornamental framework with repeating fleur-de-lis patterns across the top and bottom borders, spiral corner ornaments in all four corners, and decorative vine/scroll designs flanking the signature areas—elements common to official Philippine documents of the era. The design emphasizes legitimacy through multiple signature lines for Provincial Governor, Provincial Treasurer, Provincial Auditor, and Assistant Provincial Treasurer, with the center text functioning as a certificate of deposit rather than traditional note imagery. The back reinforces legal status with formal proclamations regarding authorization and validity requirements. No portraits or geographic landmarks appear; instead, the design relies on ornamental borders and authoritative textual elements to establish credibility. The brown/sepia front and red/pink back printing creates visual distinction between sides while maintaining the aged, official appearance appropriate to emergency wartime currency.

FRONT: 'Mountain Province Emergency Note' / 'SERIES A' / 'No 59345' / 'This certifies that there has been deposited in the Philippine National Bank the equivalent of ONE PESO' / 'Redeemable in the Currency of the Philippine Commonwealth after this Emergency.' / Authority lines: 'PROVINCIAL GOVERNOR' (signed N. S. Vengara), 'PROVINCIAL TREASURER' / 'Countersigned: PROVINCIAL AUDITOR' / 'ASST. PROVINCIAL TREASURER' // BACK: 'ONE PESO' / 'MOUNTAIN PROVINCE EMERGENCY NOTE' / 'THIS NOTE IS ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES AND THE PROVINCIAL BOARD OF THE MOUNTAIN PROVINCE AND IS DECLARED LEGAL TENDER.' / 'NOT VALID UNLESS SIGNED BY THE PROVINCIAL GOVERNOR AND PROVINCIAL TREASURER AND COUNTERSIGNED BY THE PROVINCIAL AUDITOR AND SEALED WITH THE OFFICIAL SEAL OF THE MOUNTAIN PROVINCE.' / 'ONE PESO'

Letterpress printing on aged tan/cream paper stock. The brown/sepia tones on the front and red/pink printing on the back show characteristics of multi-color letterpress work typical of 1940s Philippine currency production. The decorative borders, fleur-de-lis patterns, and fine detail work are consistent with traditional engraved letterpress plates. Handwritten signatures in purple/violet ink were added after printing, a common practice for emergency notes requiring individual official authorization. The even color distribution and sharp border definition indicate skilled letterpress execution, though the specific printer for this Mountain Province issue is not definitively documented in standard catalogs.

This specimen is identified as Series A, Number 59345, with signatures of N. S. Vengara as Provincial Governor. Mountain Province emergency notes of 1942 exist in multiple series (at minimum Series A documented here) and with different signature combinations depending on which provincial officials countersigned each batch. Serial number ranges and signature varieties may exist across surviving examples, though detailed catalogs of all varieties are limited. The specific combination of Series A + Vengara signature + serial number 59345 represents one documented variety of this issue; other series letters and governor signatures would indicate different printings or releases.