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2 Pesos
| Issuer | Philippine National Bank, Misamis Occidental Agency (Mindanao) |
|---|---|
| Year | 1942 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | The reverse is printed in brown on plain paper with a simple border frame enclosing a central vignette of the Philippine coat of arms flanked by laurel branches. The circular legend PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE arcs above the vignette, while the denomination TWO PESOS appears in bold serif lettering below. The numeral "2" and the word "PESOS" are repeated vertically in each corner. |
| Reverse lettering | PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE TWO PESOS 2 PESOS |
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| Comments |
The Philippine National Bank operated a network of emergency agency notes during the Japanese occupation, with provincial branches issuing their own paper when central supply lines collapsed. The Misamis Occidental Agency sat in northern Mindanao — a region that remained under Filipino and American guerrilla pressure well into the occupation — and its notes circulated in genuinely contested territory, not simply under Japanese administrative control.
Most Mindanao emergency issues were produced on whatever paper was locally available, which accounts for the significant variation in stock quality across surviving examples of this series. S577 is among the less common Misamis agency denominations.