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5 Centavos Blue

Issuer Sub-Province of Apayao
Year 1942
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Value 5 Centavos (0.05)
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Obverse lettering APAYAO Payable After the War M. Ayochok (Dep. Gov.) M. Medina F. A. Enciso Treasurer Auditor FIVE - CVOS 5¢
Reverse description The reverse repeats the central spread-winged eagle vignette in blue, set within a plain ruled border on unadorned paper stock. The issuer name 'APAYAO' is printed at the top, with the denomination '5¢' repeated at each corner and 'FIVE-CVOS.' inscribed along the lower margin. The design is notably spare, relying on the eagle motif and corner denomination numerals as the sole decorative elements.
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Comments

Apayao was one of several sub-provinces in the Mountain Province of northern Luzon that issued emergency guerrilla currency during the Japanese occupation. These locally produced notes filled the vacuum left when official Philippine Commonwealth currency was either hoarded, destroyed, or declared worthless by the occupying administration. The S100-series Apayao notes are among the more obscure Philippine emergency issues — documentation on their precise printing and authorization chain is thin, which is characteristic of guerrilla currency produced under wartime improvisation rather than formal banking infrastructure.

The S102 specifically is rarely encountered in any grade.

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