The Japanese Government WW2 1942 50 Centavos Banknote, First Series PI
The Japanese Government WW2 1942 50 Centavos Banknote, First Series PI.
Japanese Invasion Money From The Occupation Of The Philippines, a Fifty Centavos Banknote, Is a Great Addition To Your Collection.
Why Were Japanese Pesos Issued?
On December 8, 1941, the Japanese invaded the Philippines. When the Japanese gained control of the Philippines later, in December of 1941, the military confiscated all hard currency from the government and civilians. It is estimated that they seized more than $20.5 million U.S. dollars and local cash. An unknown amount of foreign currency and bullion were also confiscated. Japan used the money that was confiscated to purchase raw materials, food, and weapons to supply its war machine during World War II.
Under the occupation of the Japanese government, The Second Philippine Republic was created. President José P. Laurel, a puppet of the Japanese government, outlawed the possession of any hard currency. This was referred to as guerrilla currency. Additionally, he declared a monopoly on the issuance of any money. Any citizen found in possession of guerrilla notes would be arrested and possibly executed.
After the Japanese confiscated the hard currency, they replaced it with fiat currency. Unfortunately, inflation ravaged the Philippine economy. This led to the Japanese government issuing several series of Japanese invasion money in the Philippines.
- 1, 5, 10, and 50 Centavos
- 1, 5, and 10 Pesos
Government Printed Counterfeit Notes
The United States government counterfeited notes throughout the war in an attempt to destabilize the local economy in the Philippines. This was an attempt to demoralize the occupying Japanese forces and to give the Philippine guerrilla soldiers a supply of money to finance their underground war.
Counterfeit Notes Printed
The United States government produced the following counterfeit notes notes
10 Peso notes: 5 Million
5 Peso notes: 3 million
1 Peso notes: 500,000
50 Centavos notes: 500,000
What Is a Japanese Peso Worth Today?
Since these notes were printed in large volumes, compared to the small population of the Philippine Islands, the initial supply was very plentiful. At the end of World War II, many of the notes were burned or thrown in the garbage. Many people saved these notes as a memento. Therefore, well-circulated notes can be obtained for a couple of dollars, and crisp uncirculated notes can be purchased for between ten and twenty dollars.
Item Code - CUR1E289FD
Width: 4 5/8" Height: 2 1/4" Depth: 1/16" Weight: 1 g