Philippine Currency Appraisal

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1943 Philippines Two Pesos Guerrilla Currency Note

This is a historical piece of paper currency known as a 'Guerrilla' or 'Emergency' note, issued during World War II in the Philippines. Specifically, this note is a 'Two Pesos' denomination from the Guiuan, Samar municipality, dated July 19, 1943. It was issued by the United States Armed Forces in the Philippines (USAFIP) for use as local tender during the Japanese occupation. The note is printed on crude, lightweight paper stock showing a vertical orientation with black ink. The face prominently features the text 'TWO PESOS' and 'WAR CIRCULATING NOTES' along with the guarantee that the United States will pay the bearer on demand after the period of emergency. It includes facsimile signatures of local officials, including a Judge and Treasurer. The design is utilitarian, featuring a decorative border composed of repeated '2' numerals and basic scrollwork. Physically, the item shows significant signs of age and circulation; there is heavy toning (browning) of the paper, several small tears along the bottom and side edges, and visible fold lines. There are also dark ink smudges or possible stamps on the upper left portion, which may be original to its wartime processing. As an emergency issue, the craftsmanship is intentionally rudimentary, reflecting the lack of professional printing presses available to the resistance forces at the time.

Estimated Value

$45.00 - $75.00

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