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2 Pesos Victory, Central Bank
| Issuer | Central Bank of the Philippines |
|---|---|
| Year | 1949 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Peso (1857-1967) |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse is printed entirely in blue with an intricate guilloche pattern centred on a large rosette vignette, flanked by ornamental numeral '2' panels at each corner within scalloped frames. Over this blue intaglio design, a bold red overprint in three lines reads 'CENTRAL BANK / VICTORY / OF THE PHILIPPINES', and a large black overprint of 'VICTORY' is superimposed across the centre. The words 'TWO PESOS' appear at the top and bottom borders. |
| Reverse lettering | TWO PESOS PHILIPPINES CENTRAL BANK OF THE PHILIPPINES VICTORY TWO PESOS 2 |
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| Comments |
The "Victory" series was introduced by the Commonwealth Government in 1944 as U.S. forces retook the archipelago, deliberately overprinted to distinguish liberated-issue currency from the Japanese Military Administration peso notes that had flooded the economy during occupation. By 1949, the newly established Central Bank of the Philippines had inherited and continued issuing notes from this same BEP-printed series under its own authority — P#118 is essentially a transitional piece, bearing the Central Bank name on currency whose design predates the institution itself.
The BEP relationship was a practical inheritance from American colonial administration, not a sovereign choice, and Manila would not achieve full domestic printing capability for decades.