5 Pesos

The Masbate Consolidated Mining Company operated gold mines on Masbate Island and, like several Philippine mining and agricultural enterprises, issued its own scrip during the Commonwealth period to manage payroll on remote worksites far from regular banking services. These notes circulated as wages among laborers at the mine and were redeemable at the company store — a closed economic loop common to extractive industries in the provincial Philippines.

Japanese forces occupied Masbate in early 1942, effectively terminating the company's operations and rendering this scrip worthless almost immediately after issue. Survival rates are low for exactly that reason.