5 pesos 1942

Common. The eBay market data provided shows these notes trading consistently in the $2.49 to $13.73 USD range for circulated examples, with even ungraded specimens at $4-9.99 USD. Only a single UNC example at $299.99 USD commands a premium, which is typical for notes in exceptional condition. The Iloilo variant (P-S316b) with only 1 PMG population record suggests limited professional grading activity rather than scarcity, which is normal for wartime emergency notes. The denomination and historical nature make it moderately collectible, but abundant supply at low prices indicates this is not a rare issue.

This emergency circulating note was issued on December 30, 1942, by the Iloilo Currency Committee under Philippine National Bank authority during the Japanese occupation of the Philippines in World War II. The inclusion of MacArthur's portrait on a 1942 emergency note is historically significant, as it reflects Filipino loyalty to the American forces and General MacArthur's role in Philippine liberation efforts, even as the islands were under Japanese control. The local committee structure and handwritten signatures of provincial officials demonstrate how emergency currency was issued at the municipal level to maintain economic function during wartime disruption.

The front features a left-facing profile portrait of General Douglas MacArthur as the central design element, positioned on the left side of the note. The design incorporates ornamental corner decorations with shield-like elements and triangular motifs in each corner, typical of early 20th century Philippine currency design. The Philippine National Bank seal and the date 'Dec 30, 1942' appear on the right side. The back displays a large, ornately framed denomination numeral '5' in the center, surrounded by elaborate decorative cartouches and floral scroll patterns in the corners. The overall design scheme uses a predominantly red and pink color palette with beige/tan background elements, creating a visually distinctive emergency note that stands apart from regular currency denominations. Handwritten signatures of committee members appear on the front, indicating the local authorization structure.

FRONT SIDE: 'FIVE PESOS' (denomination), 'PHILIPPINE NATIONAL BANK' (issuer), 'Emergency Circulating Note of 1942' (note type), 'Series of 1942' (series designation), 'Issued by Authority of the President of the Philippines' (authorizing statement), 'WILL PAY THE BEARER ON DEMAND / In Lawful Currency of the Philippines' (promise to pay clause), 'ILOILO CURRENCY COMMITTEE' (issuing authority), Serial number '30314', 'MacArthur' (portrait identification), 'Prov. Auditor Member / Acting Mgr. P.N.B. Iloilo Chairman / Prov. Fiscal Member' (committee member titles), 'Iloilo City Dec 30, 1942' (place and date of issue). BACK SIDE: 'PHILIPPINE NATIONAL BANK' (issuer banner), 'FIVE PESOS' (denomination), 'Emergency Circulating Note of 1942' (note type), 'Iloilo City, Philippines / December 30, 1942' (place and date).

Letterpress printing, typical of Philippine currency production during the early 1940s. The note exhibits characteristic letterpress features including slight ink impression variations and the ornamental patterns created through relief printing. The visual analysis indicates some ink bleeding and fading consistent with the letterpress method and the aged condition of a note printed over 80 years ago.

This note is catalogued as P-S316b, the Iloilo variant of the 1942 5 pesos emergency note. The 'b' designation indicates this is a regional issue specific to Iloilo City, issued by the Iloilo Currency Committee. The specific serial number 30314 and the handwritten signatures of committee members (Prov. Auditor, Acting Manager P.N.B. Iloilo Chairman, and Prov. Fiscal) on this example represent the local authorization variant. The date of issue (December 30, 1942) and location-specific text ('Iloilo City') are distinguishing features of this regional emergency currency series.