Philippine Fiat Money Appraisal

World War II Japanese Government-Issued 50 Centavos Philippine Fiat Paper Money

This item is a Japanese Occupation Fifty Centavos banknote, issued for use in the Philippines during World War II (circa 1942-1945). The note features a vertical orientation with black and grey-blue ink on off-white paper bank stock. The obverse displays the text "THE JAPANESE GOVERNMENT" along with the denomination "FIFTY CENTAVOS" and the block letter code "PI". A decorative vignette at the bottom depicts a scenic landscape with palm trees. The condition of this specific note is circulated; it shows significant signs of handling including a prominent fold/dog-ear in the upper-left corner, surface soiling, and frayed edges. Notable foxing or staining is visible throughout the paper, indicating its age and the conditions of its storage. These notes, often referred to as 'Mickey Mouse Money' due to their rapid inflation and eventual worthlessness upon the liberation of the Philippines, typically lack serial numbers and instead use block letter prefixes. The craftsmanship is utilitarian, reflecting the wartime necessity of mass production under occupation. This piece serves as a significant historical artifact of the Pacific Theater during the Second World War.