5 Pesos

The Masbate Consolidated Mining Company operated on Masbate Island in the central Philippines, where gold and copper deposits had drawn sustained foreign investment since the 1930s. Company scrip of this kind was a practical necessity in remote mining operations — workers needed a medium of exchange in company stores and canteens far from any functioning commercial bank. The 1941 date places this note squarely in the final months before Japanese forces occupied the island in early 1942, after which normal operations collapsed entirely.

Survival rates for Philippine provincial and corporate scrip from this period are low. Most remaining stocks were either destroyed during the occupation or simply discarded after the war made them unredeemable.