2 Pesos Silver certificate, With text after 'demand'

Philippine silver certificates were authorized under the 1903 Currency Act, which established the peso at exactly half a U.S. dollar and backed paper issues with silver pesos held in Manila. The "with text after 'demand'" designation separates this type from the earlier P#31 — the added text clarifies the redemption terms, a revision prompted by public confusion over the original wording during the note's first years of circulation.

The Burton Harrison & Manning variety without blue underprint is the standout collecting target in this series — the missing underprint is a genuine production error, not a fading issue, and it surfaces rarely enough to command significant premium over the standard signed examples.