10 Pesos

The Mindanao Emergency Currency Board was one of several guerrilla-backed fiscal authorities operating in the Philippine provinces during the Japanese occupation. These boards were explicitly authorized — and in some cases supplied — through channels connected to MacArthur's forces and the Commonwealth government-in-exile, giving the notes a quasi-official status that pure guerrilla scrip lacked. Japanese forces treated possession of such notes as evidence of resistance activity, making circulation genuinely dangerous for ordinary Filipinos.

Three signatories on a single guerrilla note is unusual and likely reflects a deliberate accountability structure imposed to deter forgery from within.