5 Pesos

The Mindanao Emergency Currency Board was one of several provincial bodies authorized by the Philippine Commonwealth government in the early months of the Japanese occupation to print emergency guerrilla currency. These notes kept local economies functioning in areas where Japanese military scrip was refused or unavailable, and their issuance was technically an act of resistance — possession could mean death under occupation law.

Mindanao issues are among the more reliably documented of the Philippine emergency series, though survival rates vary sharply by denomination. Paper quality was inconsistent from the start, and notes that saw genuine circulation tend to show it.