50 Centavos

The Mindanao Emergency Currency Board was one of several guerrilla currency authorities operating in the southern Philippines during the Japanese occupation. These boards issued notes under the authority of the Philippine Commonwealth government-in-exile, providing a functional alternative to Japanese Military Pesos — which the local population actively resisted using where they could. Mindanao's geography, with its dispersed population and mountainous interior, made local emission both practical and politically necessary.

The three-signature format — Saguin, Pacana, and Barbasa — reflects the board structure rather than a banking hierarchy. Emergency issues from Mindanao are notably more susceptible to humidity damage than other Philippine guerrilla notes, given the printing conditions and local paper stock used.