Philippines, Emergency Issue "Guerilla Pesos"

Two types of collections are available for these banknotes:

• Regular, which includes only a 10 pesos note
• Deluxe, which includes a banknote from each of the following denominations: 25 centavos, 50 centavos, 1 peso, 2 pesos, 5 pesos, and 10 pesos

 These banknotes were printed during World War II by the legitimate government of the Philippines, which had been exiled to the United States after the island nation was invaded by the Japanese.  These so called "guerilla pesos" were printed using makeshift presses and whatever materials were available, which often produced very poor quality banknotes. The Japanese puppet government took them seriously nonetheless, and instituted severe punishments including execution for anyone caught with these notes. They date between 1942 and 1943.

From the info card:

On December 7, 1941, the Japanese bombed the U.S. naval base at Pearl Harbor; the next day, they invaded the Philippines, a key American ally. Upon taking the country, the Japanese issued their own currency, declaring that existing money was no longer valid--one of the many harsh measures that turned the Filipinos against them. A guerilla campaign waged by Philippine freedom fighters--and supplied by the U.S. via submarine--wreaked havoc on the occupying forces.

With physical money in short supply, guerilla fighters in the field and local governments in free provinces printed emergency currency--peso notes of various denominations printed on a hodgepodge of makeshift presses with whatever paper and ink could be obtained.--on authority of President-in-exile Manuel Quezon, whose likeness appears on some of the notes.

During the Japanese occupation, possession of guerilla money was forbidden on penalty of death; entire villages could be subject to harsh retribution if these notes were found in any quantity. Their ubiquity even in the face of reprisal is a testament to the courage and indomitable spirit of the Philippine people.