5 centavos 1941

Common. The eBay market data shows multiple UNC examples trading in the $1.89 to $4.99 range, with the highest UNC prices at $28.62 and $99.99 representing outliers or premium collections. The consistent availability of UNC specimens and the wide price range indicate this is a readily available note in the collector market. While historically significant as a Japanese occupation-era emergency issue, the Cebu variant (P-S211) appears to have had a substantial print run and remains common today.

Issued on December 29, 1941, just weeks after Japan's invasion of the Philippines, this emergency note was authorized by the President of the Philippines through the Cebu Currency Committee to maintain economic function during wartime disruption. The explicit mention of 'Emergency Circulating Note of 1941' and the Cebu City origin reflect the regional currency crisis that forced local authorities to issue supplemental currency when normal banking channels collapsed. The Philippine National Bank seal and formal promise to 'pay the bearer on demand' attempted to maintain monetary credibility despite extraordinary circumstances.

The obverse features the Philippine National Bank circular seal/emblem containing an eagle and shield as the central motif, surrounded by the formal promise to pay and denomination statements. The reverse displays the same circular seal design with text arranged concentrically indicating the Cebu Currency Committee's emergency authority. Both sides employ identical ornate geometric border patterns with diamond-shaped corner elements containing the numeral '5'. The design is deliberately formal and official in appearance, employing the heraldic eagle imagery of the Philippine National Bank to convey governmental legitimacy despite the emergency circumstances. The tan/beige paper stock and black printing with red serial numbers represent the practical constraints of wartime production.

FRONT SIDE: 'THE PHILIPPINE NATIONAL BANK' / 'WILL PAY THE BEARER ON DEMAND' / 'FIVE CENTAVOS' / 'IN LAWFUL CURRENCY OF THE PHILIPPINES' / 'EMERGENCY CIRCULATING NOTE OF 1941' / Serial Number: 'No 56819' / Committee designation: 'CEBU CURRENCY COMMITTEE' / 'FISCAL PROVINCE OF CEBU, MEMBER' / 'ACTG MANAGER, PNB. CEBU, CHAIRMAN' / 'AUDITOR, PROVINCE OF CEBU, MEMBER' / BACK SIDE: 'PHILIPPINE NATIONAL BANK' / 'FIVE CENTAVOS' / 'CIRCULATING' / 'ISSUED BY THE CEBU CURRENCY COMMITTEE' / 'BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES' / 'EMERGENCY' / 'NOTE OF 1941 DECEMBER 29 1941' / 'CEBU CITY, PHILIPPINES' / All text appears in English, reflecting the Commonwealth period governance structure.

Letterpress printing on tan/beige paper stock, characteristic of 1941-era emergency currency production. The ornate border patterns and geometric designs show the detailed line work typical of letterpress engraving. The red serial number appears to have been applied separately, likely through a second pass or specialized numbering equipment. No security printer attribution is standard for these emergency issues, as they were produced under emergency authority rather than through the normal currency manufacturing channels. The handwritten signatures visible on the note indicate post-printing personalization by committee members.

This specimen shows Serial Number 56819 in red ink, issued under the Cebu Currency Committee authority with signatures from the Acting Manager PNB Cebu, Fiscal Province of Cebu member, and Auditor. The December 29, 1941 date is consistent with the earliest authorized emergency issuances. Varieties exist based on different serial number ranges, signature combinations, and committee member variations across different Cebu Currency Committee note issues. The specific serial number and signature combination would distinguish individual specimens within the P-S211 classification.