20 Centavos

The Mindanao Emergency Currency Board was one of several provincial wartime authorities that issued guerrilla currency during the Japanese occupation of the Philippines. These notes circulated in territories where Filipino and American forces maintained resistance, functioning as a deliberate counter to Japanese Military Pesos, which occupation authorities attempted to impose as the sole legal tender. Accepting guerrilla currency was itself an act of defiance — and Japanese forces treated possession of it accordingly.

Mindanao's geography aided circulation. The island's interior was never fully pacified, giving these notes a wider effective reach than many comparable provincial issues from Luzon or the Visayas.

Three signatories appear: Saguin as Chairman, with Pacana and Barbasa serving as board members — an unusually complete signature panel for a guerrilla-issue fractional denomination.