10 Pesos

By late 1941, the Philippine National Bank's Bacolod branch was issuing its own emergency currency backed by local sugar industry assets — one of several provincial branches authorized to do so as Japanese forces advanced and communication with Manila collapsed. The Negros Occidental notes were produced under genuine wartime pressure, not as a precautionary measure, and the series circulated actively on the island during the occupation period.

S618 belongs to the Negros guerrilla currency family, a collecting area where forgeries and fantasy notes have historically muddied the waters. Provenance documentation matters here considerably more than it does for most Philippine issues of the period.