2 pesos 1944

Common. eBay market price tracking shows this note type trading across a wide range from $5.00 USD to $161.00 USD, with most listings concentrated in the $15–$80 range, indicating robust availability in the secondary market. The 1944 Philippine emergency issues were printed in substantial quantities to address wartime currency needs, and survival rates remain reasonable. While condition grades vary significantly (the price range reflects varying states of preservation), the denomination and type itself is not scarce. The heavily circulated condition of this example is consistent with typical pricing in the $30–$60 range observed for well-worn specimens.

This 1944 emergency circulating note was issued under the authority of the Philippine President during the final year of Japanese occupation in World War II, when the Philippine National Bank authorized local currency committees to issue supplementary currency to address severe monetary shortages. The Iloilo Currency Committee's issuance, dated May 1, 1944, represents a decentralized emergency response to wartime economic disruption in the Visayas region. The note's inscription 'By Authority of the President of the Philippines' affirms the legitimacy of these local emergency issues within the Philippine monetary system during this tumultuous period.

This emergency circulating note features a classical banknote layout with no portraits or landmarks, instead relying on decorative typography and ornamental borders for its visual appeal. The front displays ornamental corner frames containing large stylized numerals '2' in decorative scrollwork, with the main text arranged in a formal banknote format identifying the issuer and promise to pay. The dominant design element is the text-based layout with red overprint stamps visible in the central area and red serial numbers printed on both left and right sides. The reverse side mirrors the ornamental corner design with numerals '2' and features a large central numeral '2', alongside the issuer identification for the Iloilo City branch and the authorization text. The color scheme consists of black text on cream/beige paper with red accents from the overprint stamp and serial numbers, with aging having introduced a pink/salmon tint to the reverse.

FRONT SIDE: 'TWO PESOS' (denomination), 'THE Philippine National Bank' (issuer), 'SERIES OF 1944' (series designation), 'WILL PAY THE BEARER ON DEMAND TWO PESOS' (promise to pay), 'In Lawful Currency of the Philippines' (currency declaration), 'ILOILO CURRENCY COMMITTEE' (issuing authority), 'Actg. Prov. Auditor' (Acting Provincial Auditor signature line), 'Mg. Manager P.N.B., Iloilo' (Managing Manager Philippine National Bank Iloilo signature line), 'Actg. Prov. Fiscal' (Acting Provincial Fiscal signature line), serial numbers '1438780' (appearing on both sides). BACK SIDE: 'TWO PESOS' (denomination repeated top and bottom), 'Philippine National Bank' (issuer), 'Iloilo City' (location), 'Philippines' (country), 'May 1' / '1944' (date of issue), 'By Authority of the President of the Philippines' (authorization statement), 'Emergency Circulating Note of 1944' (note classification).

This note was produced using letterpress printing, evidenced by the crisp typography, the embossed quality of the text impressions visible in the aged paper, and the characteristic appearance of overprinted security elements. The red overprint stamp and serial numbers were applied as secondary impressions, consistent with 1944 Philippine emergency currency production methods. The printer for Philippine National Bank emergency issues of this period is not definitively attributed in the Pick catalog, but such notes were typically produced domestically or under emergency authorization by the PNB's own facilities during wartime disruption of normal security printing.

This note is identifiable as the Iloilo Currency Committee variant of the 1944 2 pesos emergency issue, with the specific issuing authority clearly stated on the obverse. The serial number 1438780 (appearing in red on both sides) is characteristic of the Iloilo issue series. Key identifying features include the red overprint stamp in the center and the specific signature lines for 'Actg. Prov. Auditor,' 'Mg. Manager P.N.B., Iloilo,' and 'Actg. Prov. Fiscal.' The May 1, 1944 date on the reverse is consistent with the initial authorization period for these emergency notes. Varieties of 1944 Philippine emergency 2 pesos notes exist by issuing committee/location and serial number ranges; this Iloilo attribution represents one of the identifiable regional varieties within the larger 1944 emergency issue.