20 pesos 1942

Common. The eBay market data shows multiple listings with prices ranging from $5 to $29.95 USD for circulated and unknown-condition examples, with only one outlier at $260 (likely a premium lot or collection). The preponderance of sub-$30 sales confirms strong availability in the market. While Philippine emergency currency from 1942 has historical significance, these notes were issued in substantial quantities across multiple regional committees to facilitate commerce during the occupation. The AU condition grade observed here is desirable but does not command a premium that would indicate scarcity. Specimens from the Iloilo Currency Committee remain readily available to collectors.

This emergency circulating note was issued during World War II when the Philippines was under Japanese occupation and normal currency supplies were disrupted. The designation 'Issued by Authority of the President of the Philippines' and the specific Iloilo Currency Committee signatures reflect the local provisional governance structures established to manage currency during the wartime emergency. The December 30, 1942 date places this in the early period of the occupation, when local committees throughout the archipelago were authorized to issue emergency currency to maintain commerce.

The obverse features a left-facing portrait of a man in military dress uniform positioned in the left-center area, flanked by ornate decorative borders incorporating cross and leaf motifs in the corners. The center contains the promise-to-pay clause and issuing authority text. A circular emblem or seal appears on the right side, containing what appears to be a landscape or geographical design representing the Iloilo region. The reverse is dominated by a large circular seal in the center bearing the Iloilo Currency Committee insignia with text around its border. The denomination '20' appears prominently in all four corners. Handwritten script indicates the specific issue date and location (Iloilo City, Philippines, December 30, 1942), giving each note individual documentation. The color scheme of green and cream/beige with red serial numbers follows the standard Philippine National Bank design conventions of the period.

Front side: 'TWENTY PESOS' / 'PHILIPPINE NATIONAL BANK' / 'WILL PAY THE BEARER ON DEMAND TWENTY PESOS IN LAWFUL CURRENCY OF THE PHILIPPINES' / 'Series of 1942' / 'Emergency Circulating Note of 1942' / 'Issued by Authority of the President of the Philippines' / 'ILOILO CURRENCY COMMITTEE' with signature lines for 'Prov. Auditor Member', 'Actg. Mgr. P.N.B. Iloilo Chairman', and 'VP. Fiscal Member' / Serial number '825466'. Back side: 'TWENTY PESOS' / 'Philippine National Bank' / 'ILOILO CURRENCY COMMITTEE' / 'Emergency Circulating Note of 1942' / Handwritten location and date: 'Iloilo City, Philippines December 30, 1942' / 'PESOS' with denomination '20' in all four corners.

This note was produced using intaglio (engraved) printing for the primary design elements, portraits, and seals, evident from the fine line work and detailed engraving visible in the circular emblems and portrait. The serial numbers were applied in red ink, likely by a separate letterpress or intaglio operation. The handwritten dates, signatures, and individual committee member titles were applied by hand after the primary printing, creating unique variations for each note from the specific issuing location. This hybrid approach—combining centralized engraved printing with local handwritten authorization—was typical of emergency currency issued by regional committees during the occupation period.

This specific specimen is identified as P-S318 (Iloilo variant), representing the regional issue by the Iloilo Currency Committee rather than a centralized national issue. The handwritten elements—specifically the December 30, 1942 date, 'Iloilo City, Philippines' location, and the three committee member signature lines—are characteristic of this Iloilo emission. Serial number 825466 falls within the documented range for this committee's issuance. Collectors should note that each note from the Iloilo committee may show variations in handwriting style, date combinations, and signature quality depending on the specific administrative personnel and issuing windows involved. The S-prefix in Pick catalog number indicates this is a local/emergency issue variant rather than a standard national circulation note.