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5 Pesos
| Issuer | Philippine National Bank, Iloilo City |
|---|---|
| Year | 1941 |
| Type | Standard circulation banknote |
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| Obverse description | Pink and red note with an overall diamond-pattern guilloche underprint forming the background. The central vignette carries a large bold text promise clause reading 'PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND FIVE PESOS' in letterpress, flanked by large numeral '5' corner devices. Below the central text, the issuing authority legend 'ILOILO CURRENCY COMMITTEE' appears, accompanied by three manuscript signatures with printed title designations for Prov. Auditor, Manager Phil. Nat. Bank / Chairman, and Prov. Fiscal. The Philippine national arms appear to the right of the central text, and the serial number is printed in red. |
|---|---|
| Obverse lettering | PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF 1941 ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND FIVE PESOS In Lawful Currency Of The Philippines ILOILO CURRENCY COMMITTEE Prov. Auditor Member Manager Phil. Nat. Bank Chairman Prov. Fiscal Member SERIES OF 1941 5 PESOS |
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| Comments |
The Philippine National Bank's wartime emergency branches issued their own circulating notes when Japanese forces disrupted normal banking operations and Manila-sourced currency became unavailable. The Iloilo branch series was among several provincial emergency issues authorized in 1941, each locally printed under conditions that varied dramatically by region — accounting for the significant paper and impression inconsistencies seen across surviving examples of this series.
Iloilo City fell to Japanese forces in December 1941, making the circulation window for this note extremely brief. Many were redeemed, destroyed, or simply lost in the chaos of the occupation, which is why intact examples are genuinely uncommon.