u/Fit-Worldliness-1217

Hard note to find compared to the earlier Hord. This was issued in 1919 as Eliseo Sendres was the president at that time. A lot were used or pulled following the financial crisis. As a result, despite the higher print run compared to Hord, this variety is legitimately scarce. This reveals itself with 14 graded V.S Hord’s 80+. Alongside heavy circulation, a lot of them theoretically could have been pulled from circulation by the Wood-Forbes mission to fix the economy post-crisis. Lastly, a lot of these were used to make the blackouts by PNB. Meanwhile, a lot of the Hord were unissued as seen in the majority being for a hoard of 788XXX, resulting in a prevalent market today.

This is a representative of a pack of 1,5,10 peso banknotes that were issued as part of a pilot's rations. Meaning that this note accompanied a pilot who fought to liberate the Philippines from Japanese occupation in 1944. If they were shot down, they may use the totaling 100 pesos of 1,5 and 10 peso denominations to buy food and acquire enough resources to get to safety. My example is vf25, meaning that a naval pilot must have initiated its circulation into the economy. This is only identified through serial number E1328001E - E1348000E.

Ex: Louis Winterfield

This is a representative of a pack of 1,5,10 peso banknotes that were issued as part of a pilot’s rations. Meaning that this note accompanied a pilot who fought to liberate the Philippines from Japanese occupation in 1944. If they were shot down, they may use the totaling 100 pesos of 1,5 and 10 peso denominations to buy food and acquire enough resources to get to safety. My example is vf25, meaning that a naval pilot must have initiated its circulation into the economy. This is only identified through serial number E1328001E - E1348000E.

Ex: Louis Winterfield

This is a representative of a pack of 1,5,10 peso banknotes that were issued as part of a pilot’s rations. Meaning that this note accompanied a pilot who fought to liberate the Philippines from Japanese occupation in 1944. If they were shot down, they may use the totaling 100 pesos of 1,5 and 10 peso denominations to buy food and acquire enough resources to get to safety. My example is vf25, meaning that a naval pilot must have initiated its circulation into the economy. This is only identified through serial number E1328001E - E1348000E.

Ex: Louis Winterfield

He was a US civil war vet that was killed in the Philippine-American war when the US aimed to occupy the Philippines.

Notes featured are a 1920 50 peso Philippine National Bank. This note was unissued and was only circulated in WW2 in mindanao. The second red seal is a rare pre-WW2 1936 50 peso treasury certificate in rough shape, a lot was destroyed in the retreat of US and Filipino forces in Corregidor in 1942. I am fortunate to own in any condition, as there’s only 19 graded and they’re expensive. The next is a 1944 victory note issued after WW2 liberation. The note in best shape (UNC) is a 1949 post-independence victory note with “Central Bank of the Philippines” overprint to signify that the central bank (Bangko Sentral) now is the main authority of this note rather than the US government as it was in 1944.

I like the colorful backs and this set inspired me to start collecting. I plan to get a better 5 peso eventually, but I’m focusing on pre-war issues.

The “Central Bank of the Philippines” means that the original victory note was reused by the Central Bank (BSP now) to act as a transitional currency. I have a half-half so a mix of original victory and re-issued victory.