10 Pesos

The Mindanao Emergency Currency Board was one of several regional Philippine civilian authorities that issued guerrilla currency following the Japanese invasion and occupation beginning in late 1941. These boards operated under severe material constraints — paper, ink, and printing equipment were whatever could be sourced locally or salvaged — which is why notes from Mindanao show considerable variation in paper quality and printing consistency across the series.

Japanese military administration officially banned guerrilla currency, and possession could carry lethal consequences. That notes like this survived at all is partly because remote Mindanao remained contested territory longer than Luzon.