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| 正面描述 | Dark red on light background emergency circulating note issued under authority of the President of the Philippines. The centre carries the bold text promise 'PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND TEN PESOS IN LAWFUL CURRENCY OF THE PHILIPPINES', framed by guilloche-patterned borders with the numeral 10 repeated in each corner. Three manuscript signatures of the Iloilo Currency Committee appear along the lower portion, identified as Provincial Auditor (Member), Manager of the Philippine National Bank Iloilo (Chairman), and Provincial Fiscal (Member), with a circular date stamp at lower right reading 'City of Iloilo' and the series designation 'SERIES OF 1941' at top right. |
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| 背面铭文 | TEN PESOS PHILIPPINE NATIONAL BANK Iloilo City, Philippines, Dec. 30, 1941 TEN PESOS 1941 EMERGENCY CIRCULATING NOTE Ten Pesos Ten Pesos 10 10 |
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The Philippine National Bank's regional emergency issues of 1941 are among the most historically compressed objects in Philippine numismatics. When Japanese forces advanced following the Pearl Harbor attacks in December 1941, provincial branches were authorized to produce emergency currency to keep commerce functioning as Manila's financial infrastructure collapsed. The Iloilo branch was among those that acted.
Printed locally under wartime pressure, these notes were produced without the security printing infrastructure of a national facility. Paper quality and printing consistency vary considerably across surviving examples — not a grading observation but a production fact.
Iloilo City fell to Japanese forces on 16 April 1942, ending circulation of this series.