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5 Pesos Circulating note, Red seal
| Issuer | Philippine National Bank |
|---|---|
| Year | 1937 |
| Type | Standard circulation banknote |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PHILIPPINE NATIONAL BANK CIRCULATING NOTE ISSUE AUTHORIZED MARCH 24, 1937 UNDER THE PROVISIONS OF ACT NUMBERED 2612 OF THE PHILIPPINE LEGISLATURE, AS AMENDED THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND FIVE PESOS IN LAWFUL MONEY OF THE PHILIPPINES SERIES OF 1937 FIVE PESOS |
| Reverse description | Log in to see details |
| Reverse lettering | FIVE PESOS FIVE PESOS PHILIPPINE NATIONAL BANK CIRCULATING NOTE FIVE FIVE THIS NOTE IS RECEIVABLE BY THE COMMONWEALTH OF THE PHILIPPINES IN PAYMENT OF ALL TAXES, DUES, OR OTHER CLAIMS DUE OR OWING TO SAID GOVERNMENT AND IS EXEMPT FROM ALL TAXES UNITED STATES BUREAU OF ENGRAVING AND PRINTING |
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| Comments |
The Philippine National Bank began issuing circulating notes denominated in pesos after the U.S. Treasury authorized local currency operations, and by the late 1930s the BEP-printed series had become the dominant paper medium in the archipelago. The red seal on this issue distinguishes it from earlier PNB circulating notes with different seal colors — a detail that matters for series identification more than most catalog descriptions acknowledge.
Japanese forces occupied Manila in January 1942 and promptly invalidated existing Philippine currency, issuing military scrip instead. PNB notes that survived the occupation often did so buried or hidden, and their physical condition reflects it.