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20 Pesos

Issuer Negros Emergency Currency Board
Year 1944
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Value 20 Pesos
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Reverse description Printed entirely in black on plain unprinted paper, the reverse carries a simple repeating cross-and-dash letterpress border identical to that on the obverse. The numeral '20' with 'PESOS' below appears in the upper left and upper right corners, with 'XX' in the lower corners; the center is occupied by the large bold display inscription 'Twenty Philippines Pesos' in three lines, with no additional ornamentation.
Reverse lettering 20 PESOS TWENTY PHILIPPINES PESOS XX
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Comments

The Negros Emergency Currency Board was one of several provincial bodies authorized to issue guerrilla currency during the Japanese occupation of the Philippines. Negros Occidental remained a significant center of organized resistance, and locally issued notes like this one were used to sustain both civilian commerce and guerrilla operations — a deliberate act of economic defiance against Japanese military scrip, which occupying forces attempted to impose as the sole legal tender.

The S-prefix in the Pick reference denotes a specialized or emergency issue, not standard government paper. Survival rates for Negros guerrilla notes vary considerably by denomination; higher values saw less day-to-day handling and were sometimes simply stockpiled, which counterintuitively makes condition a poor guide to scarcity.

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