10 pesos 1941

Common. The serial number 90405 falls within the documented print range of 20,001 to 104,500 for this issue, indicating a substantial production run of approximately 84,500 notes. eBay market data confirms common status: VF-graded examples are priced at $350, while circulated examples trade for under $20, and even UNC examples sell for approximately $28.62. The Pick catalog designation P-S627b (second issue variant) does not command premium pricing relative to other contemporary issues, and the Negros Occidental provenance, while historically interesting, does not create scarcity. The VF condition represents typical wear for a circulation note from this period and does not elevate rarity.

Issued during the Commonwealth period under presidential authority, this emergency circulating note reflects the Philippine government's monetary challenges during the Japanese occupation era of 1941. The explicit reference to the 'Negros Occidental Currency Committee' on the obverse demonstrates how local provincial authorities were delegated currency issuance powers during this critical period. The note's design and inscriptions emphasize legitimacy through multiple official seals and authority citations, typical of emergency wartime issues attempting to maintain public confidence in circulating currency.

The note features a minimalist emergency currency design befitting wartime constraints. The obverse displays a cream and beige background with a decorative geometric border pattern in black, providing visual security without elaborate engraving. The central element is a circular seal representing the Philippine National Bank with an eagle or national emblem, positioned on the right side. Three signature lines at the bottom represent the provincial fiscal member, acting manager of the PNB Bacolod Branch (serving as chairman), and the acting provincial auditor—reflecting the three-tiered authority structure of the Negros Occidental Currency Committee. The reverse is notably simpler, with 'TEN PESOS' prominent in the corners and minimal additional text, conforming to the expedient printing practices of emergency issues. No portraits or detailed landmarks appear; instead, authority and legitimacy are conveyed through institutional seals and official nomenclature.

FRONT: 'Philippine National Bank' / 'Emergency Circulating Note of 1941' / 'The Philippine National Bank will pay the bearer on demand ten pesos in lawful currency of the Philippines' / 'Issued by authority of the President of the Commonwealth of the Philippines' / 'Negros Occidental Currency Committee' / 'Series of 1941' / Serial number 90405 with designation letters X and L / Committee member designations: 'Prov. Fiscal Member' / 'Act'g. Mgr., P.N.B. Bacolod Branch Chairman' / 'Act'g. Prov. Auditor Member'. BACK: 'Ten Pesos' (in corners) / 'Second Issue' / 'Philippine National Bank' / 'Emergency Circulating Note' / 'Issued by authority of the President of the Commonwealth of the Philippines' / Designation letter X and denomination 10.

Letterpress (relief printing) on Bais paper, as specified in the catalog data. The printer Filma Press executed the work. The black and red ink application visible in the visual analysis is consistent with multi-pass letterpress production. Serial numbers 20,001 to 104,500 were printed, with the higher range (50,001 to 104,500) on Bais paper. The geometric border patterns and text clarity reflect the mechanical precision of letterpress technology, while the modest security features (geometric borders and institutional seals) reflect the practical constraints of wartime emergency currency production.

This is a confirmed 'Second Issue' (as explicitly marked on the reverse), identifying it as Pick P-S627b. The Negros Occidental Currency Committee attribution is specific to this provincial issue variant. Serial number 90405 with designation letters X-L places the note within the mid-to-upper range of the documented print series. The Bais paper specification applies to serial numbers 50,001 and above, confirming this note's paper stock. No overprints or unusual variants are evident in the visual analysis; this represents a straightforward example of the second issue type.