20 pesos 1941

Common. The eBay price tracking data provided shows this denomination and type selling across a wide range of prices ($2.99 to $750.00 USD), with most comparable sales falling in the $7.99 to $129.95 range for similar grades. The serial number range of 1 to 302,500 indicates a substantial print run of at least 302,500 notes. The AU condition grade and Cebu-specific issue do not appear to command premium pricing relative to other grades in the market data. Notes of this type from the 1941 Philippine emergency currency are historical artifacts but were produced in sufficient quantities that they remain accessible to collectors. The wide distribution of prices likely reflects condition variations and specific serial number ranges rather than inherent rarity.

This emergency circulating note was issued on December 29, 1941, just weeks after Japan's invasion of the Philippines, representing a critical moment when the Philippine National Bank and local authorities had to rapidly establish alternative currency systems in occupied territories. The note's prominent display of the Cebu Currency Committee and specific authorization 'BY ORDER OF THE PRESIDENT OF THE PHILIPPINES' reflects the emergency monetary measures taken during the early stages of occupation. These Cebu-specific emergency notes are historically important documents of Philippine resistance and financial continuity during World War II.

The note features a formal, ornate design typical of early 20th-century Philippine banking documents. Both obverse and reverse display a decorative geometric and floral border pattern in all four corners with ornamental designs. The front contains two prominent circular seals: one on the left reading 'ISSUED BY THE CEBU CURRENCY COMMITTEE BY ORDER OF THE PRESIDENT OF THE PHILIPPINES OF DECEMBER 29 1941' and one on the right bearing the Philippine National Bank seal. The central area contains the promise to pay clause with multiple lines of official banking and committee information, including signatures of the Acting Manager (PNB Cebu, Chairman), the Fiscal, and the Auditor of Cebu Province. The reverse displays a large centered '20' numeral with the issuing institution, location, and date prominently featured. The color scheme of black printing on a tan/beige background with red accents creates a distinctive appearance. No portraits or recognizable landmarks are depicted; instead, the design emphasizes official authority and legitimacy through textual authority statements and decorative formality.

FRONT SIDE: 'TWENTY PESOS' (denomination); 'PHILIPPINE NATIONAL BANK' (issuing authority); 'EMERGENCY CIRCULATING NOTE OF 1941' (note classification); 'The Philippine National Bank Will Pay The Bearer On Demand' (promise to pay); 'IN LAWFUL PHILIPPINE CURRENCY' (currency specification); Serial number '255801'; 'ISSUED BY THE CEBU CURRENCY COMMITTEE BY ORDER OF THE PRESIDENT OF THE PHILIPPINES OF DECEMBER 29 1941' (authorization statement); 'Acting Manager, PNB, Cebu, Chairman' (official designation); 'Fiscal, Province of Cebu, Member' (committee member); 'Auditor, Province of Cebu, Member' (committee member). BACK SIDE: 'TWENTY PESOS' (denomination repeated); 'PHILIPPINE NATIONAL BANK' (issuing authority repeated); 'CEBU CITY, PHILIPPINES DECEMBER 29, 1941' (place and date of issue); '20' (large denomination numeral); 'EMERGENCY CIRCULATING NOTE OF 1941' (note classification).

Letterpress printing, characteristic of Philippine National Bank currency of the 1941 period. The sharp, crisp impression of the border ornaments and clear definition of text and numerals are consistent with letterpress production. The single-color printing (black) on colored paper stock (tan/beige underprint) with red accent elements represents standard security printing practices for emergency Philippine currency of this era. The printer is not specifically identified on the note itself, but would have been a Philippine National Bank facility or authorized government printer operating during the occupied Philippines in December 1941.

This specific note is identified as Pick P-S218a, representing the regular issue variety of the 1941 Philippine 20 Pesos emergency note with serial number 255801 (within the documented range of 1-302,500). The Cebu imprint and December 29, 1941 date are consistent with the cataloged P-S218a variety. The serial number 255801 falls well within the issued range and does not appear to represent a special numbering variety. The note matches the standard characteristics for this Pick number: black on orange (tan/beige) underprint, vertical bar watermark, and regular issue status. Any varieties of this note would be distinguished by serial number prefixes or different authorized signatory combinations representing different committee members, though no such variants are noted in the visual analysis of this particular specimen.