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| 正面描述 | Orange letterpress note with an elaborate geometric guilloche border framing the entire face, with the word CENTAVOS repeated vertically on both lateral bands and the numeral 50 in each corner. A circular seal of the Philippine National Bank is centred in the upper half, flanked by the promise-to-pay text, while the large denomination legend FIFTY CENTAVOS appears in bold block lettering below. Three manuscript signatures of issuing officials appear at the bottom, with their respective titles printed beneath. |
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| 背面描述 | Orange letterpress reverse sharing the same guilloche border design as the face, with CENTAVOS repeated vertically on both side panels and the numeral 50 in each corner. The issuing authority name PHILIPPINE NATIONAL BANK heads the note in bold serif lettering, with FIFTY CENTAVOS in a decorated ribbon banner immediately below. A circular authorisation seal inscribed EMERGENCY CIRCULATING NOTE OF 1941 and referencing the Iloilo Currency Committee and the authority of the President of the Philippines is positioned at centre, with the place and date of issue printed beneath. |
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The Iloilo Currency Committee was one of several provincial emergency currency authorities that scrambled to issue their own notes after the Japanese invasion of the Philippines in December 1941. With Manila banks cut off and the official Philippine Commonwealth currency rapidly disappearing from circulation through hoarding, local governments across the Visayas and Mindanao printed their own scrip to keep commerce moving — Iloilo being among the earliest and most organized of these efforts.
Iloilo City fell to Japanese forces in April 1942, at which point this scrip was officially worthless. The short window of legitimate use means genuinely circulated examples are scarce; unissued remainders account for most survivors.