Guerrilla Money

A history of WWII Philippines currency

U.S. Wartime Issues

  • U.S. Wartime Issues

    U.S. Wartime Issues

    The U.S. government printed a few special issues for use in the Philippines during and immediately after WWII. ‘War’ notes were printed from previous issues and aged artificially, then shipped into the Philippines to help pay guerrilla units and keep the economy working there. ‘Aviator’ notes were printed from the 1941 series of notes and…

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  • ‘War’ notes

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    ‘War’ notes

    Standard, pre-war notes were needed by the Allied forces for military operations during the occupation period. There were 2 issues for this. The first issue was a continuation of the 1941 series notes, and were treated to appear old and worn . They were released to the US Military for distribution in the Philippines from…

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  • ‘Aviator’ notes

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    ‘Aviator’ notes

    On October 4th, 1944, the US Navy received a shipment of Philippine notes from the 1941 series. 5000 packets, each containing- (4) 10 Peso notes, (4) 5 Peso notes, and (40) 1 Peso notes, were given to pilots that were to fly missions over the occupied Philippine Islands. This was for use by the pilots…

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  • Victory Series overprints

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    Republic Act No.265 created the Central Bank of the Philippines (CBP) on January 3, 1949, which was vested the power of administering the banking & credit system of the country. Initially, the CBP issued the Victory Notes with the overprint (in red ink) “Central Bank of the Philippines ” in 1949. The first official banknotes…

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  • Victory Series

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    Victory Series

    The ‘Victory’ note series was printed in 1944, to be used upon the return of MacArthur. When he came ashore in Leyte on Oct. 20th, 1944, he was supposedly carrying some of these in his pocket, and many crates full of these notes were brought with them during this landing. According to a BEP report…

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