|
|
|
Loading
Philippines - Japanese Occupation Note's - WWII
 |
 |
 |
 |
In World War II in the Philippines, the occupying Japanese government issued fiat currency in several denominations; this is known as the Japanese government-issued Philippine fiat peso. The Japanese-sponsored Second Philippine Republic under Jose P. Laurel outlawed possession of guerrilla currency, and declared a monopoly on the issuance of money, so that anyone found to possess guerrilla notes could be arrested.
Some Filipinos called the fiat peso "Mickey Mouse money". Many survivors of the war tell stories of going to the market laden with suitcases or "Bayong" (native bags made of woven coconut or buri leaf strips) overflowing with the Japanese-issued bills. According to one witness, 75 "Mickey Mouse" pesos, or about 35 U.S. dollars at that time, could buy one chicken egg. In 1944, a box of matches cost more than 100 Mickey Mouse pesos.
Those bills were often used by American psychological warfare personnel as propaganda leaflets. The Japanese occupation banknotes were overprinted with the words "The Co-prosperity Sphere: What is it worth?", in an attempt to discredit the Greater East Asia Co-Prosperity Sphere, and dropped from Allied aircraft over the occupied territories.
The JIM notes are usually worth ten to twenty five cents each, unless they are in perfect condition, then fifty cents to a dollar. If they are the replacement type, they could be worth a couple of dollars to even five dollars.
In August 1940, Japanese Prime Minister Matsuoka Yôsuke announced the idea of the Greater East Asia Co-Prosperity Sphere, a group of Asian nations led by the Japanese and free of Western powers; "Asia for Asians". As Japan occupied various Asian countries, they set up governments with local leaders who proclaimed independence from the Western powers. One of the main ways to accomplish this was to have a unified currency, one that was not tied to western currencies.
Japanese Invasion Money was officially known as Southern Development Bank Notes. It is a currency that was issued by the Japanese Military Authority, as a replacement for local currency. In February 1942 Japan passed laws which established the Wartime Finance Bank and the Southern Development Bank. Both of these banks issued bonds to raise funding for the war. The former loaned money primarily to military industries. The latter is the one we are interested in here. They provided financial services in areas occupied by the Japanese military, and these Southern Development Bank notes were the Japanese Invasion Money we are now looking at.
Once the Japanese government made these notes, their military confiscated all hardcurrency in the Philippines, both from the government and the people. They replaced it with Southern Development Bank notes.
Now for an explanation of the method the Japanese used for adding serial numbers to most of these issues. They first used what are known as "Block Letters", printed in red on the face of the note. This system has the first letter denoting the location issued: therefore, the Philippines had block letters which started with P. So for example, the Philippine notes would have on the front depending on when printed, a set of letters in red: PA, PB, PC all the way through PZ. These are known as "Whole Block Letters".
When PZ was reached, one of two things happened- for the one through fifty centavos notes, it was decided to use what is called "Fractional Block Letters". These were basically a fraction, but instead of numbers, it was letters, appearing like this: P/AA and this system worked in the same principal as before. The letter on top denoted the location, and the bottom two were the series, starting with AA and progressing as needed. When AZ was reached, it was advanced to BA and went through BZ, and on some issues, CA and so on to EZ. For the Pesos notes, serial numbering was introduced (as well as a design change).
Some denominations have letters skipped over. The reason for this is not known, but it is believed that so many of these notes were printed, they may not have been discovered yet. Even today, bundles of Japanese Invasion Money are being discovered under old huts, in tunnels and stuffed into caves.
The second issue peso notes (1, 5, 10 and 100 Pesos) had a block number and a serial number usually beginning with a zero. Some serial numbered notes begin with the number one. These notes were issued as replacements for damaged notes, much like American 'star' notes (although a lot harder to find!). The block number range of the notes with serial numbers is 1 - 79. On the one peso notes only, blocks 80 - 87 had no serial numbers (they were produced in haste after the Americans landed on Luzon- there were 5 print runs). These notes with just plate block numbers are much harder to find than the ones with serial numbers.
After the liberation of the Philippines, the Red Cross came in to help out. They obtained many of these JIM notes, and punched 2 holes in each one. Then these hole-punched notes were distributed to the soldiers as souvenirs. These notes have no extra monetary value, but do come with a bit more of a story and can usually be found in high grades.
Regarding the legality of the JIM notes after the war, President Truman did not support the stance of the Philippine government. Commonwealth House Bill No. 647 (Senate Bill No. 51), titled "An Act Governing the Payment of Monetary Obligations Incurred or Contracted Prior to and During the Japanese Invasion of the Philippines and for Other Purposes," was passed by both houses of the Philippine Commonwealth Congress on the last day of its last session, December 20, 1945. It was signed into law by President Osmeña on January 18, 1946. The law provided for the validation of payments made in Japanese "mickey mouse" money during the period of enemy occupation.
Some Filipinos called the fiat peso "Mickey Mouse money". Many survivors of the war tell stories of going to the market laden with suitcases or "Bayong" (native bags made of woven coconut or buri leaf strips) overflowing with the Japanese-issued bills. According to one witness, 75 "Mickey Mouse" pesos, or about 35 U.S. dollars at that time, could buy one chicken egg. In 1944, a box of matches cost more than 100 Mickey Mouse pesos.
Those bills were often used by American psychological warfare personnel as propaganda leaflets. The Japanese occupation banknotes were overprinted with the words "The Co-prosperity Sphere: What is it worth?", in an attempt to discredit the Greater East Asia Co-Prosperity Sphere, and dropped from Allied aircraft over the occupied territories.
The JIM notes are usually worth ten to twenty five cents each, unless they are in perfect condition, then fifty cents to a dollar. If they are the replacement type, they could be worth a couple of dollars to even five dollars.
In August 1940, Japanese Prime Minister Matsuoka Yôsuke announced the idea of the Greater East Asia Co-Prosperity Sphere, a group of Asian nations led by the Japanese and free of Western powers; "Asia for Asians". As Japan occupied various Asian countries, they set up governments with local leaders who proclaimed independence from the Western powers. One of the main ways to accomplish this was to have a unified currency, one that was not tied to western currencies.
Japanese Invasion Money was officially known as Southern Development Bank Notes. It is a currency that was issued by the Japanese Military Authority, as a replacement for local currency. In February 1942 Japan passed laws which established the Wartime Finance Bank and the Southern Development Bank. Both of these banks issued bonds to raise funding for the war. The former loaned money primarily to military industries. The latter is the one we are interested in here. They provided financial services in areas occupied by the Japanese military, and these Southern Development Bank notes were the Japanese Invasion Money we are now looking at.
Once the Japanese government made these notes, their military confiscated all hardcurrency in the Philippines, both from the government and the people. They replaced it with Southern Development Bank notes.
Now for an explanation of the method the Japanese used for adding serial numbers to most of these issues. They first used what are known as "Block Letters", printed in red on the face of the note. This system has the first letter denoting the location issued: therefore, the Philippines had block letters which started with P. So for example, the Philippine notes would have on the front depending on when printed, a set of letters in red: PA, PB, PC all the way through PZ. These are known as "Whole Block Letters".
When PZ was reached, one of two things happened- for the one through fifty centavos notes, it was decided to use what is called "Fractional Block Letters". These were basically a fraction, but instead of numbers, it was letters, appearing like this: P/AA and this system worked in the same principal as before. The letter on top denoted the location, and the bottom two were the series, starting with AA and progressing as needed. When AZ was reached, it was advanced to BA and went through BZ, and on some issues, CA and so on to EZ. For the Pesos notes, serial numbering was introduced (as well as a design change).
Some denominations have letters skipped over. The reason for this is not known, but it is believed that so many of these notes were printed, they may not have been discovered yet. Even today, bundles of Japanese Invasion Money are being discovered under old huts, in tunnels and stuffed into caves.
The second issue peso notes (1, 5, 10 and 100 Pesos) had a block number and a serial number usually beginning with a zero. Some serial numbered notes begin with the number one. These notes were issued as replacements for damaged notes, much like American 'star' notes (although a lot harder to find!). The block number range of the notes with serial numbers is 1 - 79. On the one peso notes only, blocks 80 - 87 had no serial numbers (they were produced in haste after the Americans landed on Luzon- there were 5 print runs). These notes with just plate block numbers are much harder to find than the ones with serial numbers.
After the liberation of the Philippines, the Red Cross came in to help out. They obtained many of these JIM notes, and punched 2 holes in each one. Then these hole-punched notes were distributed to the soldiers as souvenirs. These notes have no extra monetary value, but do come with a bit more of a story and can usually be found in high grades.
Regarding the legality of the JIM notes after the war, President Truman did not support the stance of the Philippine government. Commonwealth House Bill No. 647 (Senate Bill No. 51), titled "An Act Governing the Payment of Monetary Obligations Incurred or Contracted Prior to and During the Japanese Invasion of the Philippines and for Other Purposes," was passed by both houses of the Philippine Commonwealth Congress on the last day of its last session, December 20, 1945. It was signed into law by President Osmeña on January 18, 1946. The law provided for the validation of payments made in Japanese "mickey mouse" money during the period of enemy occupation.
 |
 |
 |
 |
The Japanese Government Notes
First Issue
1 One Centavo
Very Good Very Fine Uncirculated
VG VF Unc
(1942) Black on green unpt. back green.
a. 2 block letters. $0.05 $0.10 $0.20
b. Fractional block letters. 0.05 0.10 0.20
VG VF Unc
(1942) Black on green unpt. back green.
a. 2 block letters. $0.05 $0.10 $0.20
b. Fractional block letters. 0.05 0.10 0.20
5 Five Centavos
VG VF Unc
(1942) Black on blue unpt. back blue.
a. 2 block letters. $0.05 $0.10 $0.20
b. Fractional block letters. 0.10 0.25 0.75
(1942) Black on blue unpt. back blue.
a. 2 block letters. $0.05 $0.10 $0.20
b. Fractional block letters. 0.10 0.25 0.75
10 Ten Centavos
VG VF Unc
(1942) Black on It. brown unpt. back brown.
a. 2 block letters. $0.05 $0.10 $0.20
b. Fractional block letters. 0.05 0.10 0.25
(1942) Black on It. brown unpt. back brown.
a. 2 block letters. $0.05 $0.10 $0.20
b. Fractional block letters. 0.05 0.10 0.25
50 Fifty Centavos
VG VF Unc
(1942) Black on It. purple unpt. Plantation
at r. Back purple.
a. Buff colored paper. $0.10 $0.25 $0.50
b. White paper. 0.05 0.10 0.25
(1942) Black on It. purple unpt. Plantation
at r. Back purple.
a. Buff colored paper. $0.10 $0.25 $0.50
b. White paper. 0.05 0.10 0.25
1 One Peso
VG VF Unc
(1942) Black on It. green unpt. Plantation
at r. Back green.
a. Buff to it. brown paper. $0.25 $0.60 $1.50
b. White paper. 0.15 0.40 1.00
(1942) Black on It. green unpt. Plantation
at r. Back green.
a. Buff to it. brown paper. $0.25 $0.60 $1.50
b. White paper. 0.15 0.40 1.00
5 Five Pesos
VG VF Unc
(1942) Black on It. blue unpt. Plantation
at ctr. Back orange.
a. Buff to it. brown paper. $0.25 $0.60 $1.50
b. White paper. 0.15 0.30 1.00
(1942) Black on It. orange unpt.
Like b. Back gold-yellow. 0.25 0.60 2.50
(1942) Black on It. blue unpt. Plantation
at ctr. Back orange.
a. Buff to it. brown paper. $0.25 $0.60 $1.50
b. White paper. 0.15 0.30 1.00
(1942) Black on It. orange unpt.
Like b. Back gold-yellow. 0.25 0.60 2.50
10 Ten Pesos
VG VF Unc
(1942) Black on blue unpt. Plantation
at ctr. Back brown.
a. Buff paper. $0.15 $0.25 $0.60
b. White paper. 0.10 0.15 0.30
(1942) Black on blue unpt. Plantation
at ctr. Back brown.
a. Buff paper. $0.15 $0.25 $0.60
b. White paper. 0.10 0.15 0.30
Second Issue
1 One Peso
VG VF Unc
(1943) Black on It. green and pink unpt.
Back blue on pink unpt.
a. Serial # and block # (#1 - 80). $0.10 $0.20 $0.50
b. Block # only (81 - 87) 0.75 2.50 7.50
(1943) Black on It. green and pink unpt.
Back blue on pink unpt.
a. Serial # and block # (#1 - 80). $0.10 $0.20 $0.50
b. Block # only (81 - 87) 0.75 2.50 7.50
5 Five Pesos
VG VF Unc
(1943) Black on green and yellow unpt.
Back brown on gray unpt. $0.15 $0.35 $1.00
(1943) Black on green and yellow unpt.
Back brown on gray unpt. $0.15 $0.35 $1.00
10 Ten Pesos
VG VF Unc
(1943) Black on green unpt.
Back green on yellow unpt. $0.15 $0.35 $1.00
(1943) Black on green unpt.
Back green on yellow unpt. $0.15 $0.35 $1.00
100 One Hundred Pesos
VG VF Unc
(1944) Black on It. blue and tan unpt.
Back purple on green unpt. $0.15 $0.35 $1.25
Note : 1-100 pesos engraved face plates w/Rizal Monument.
Wmk: Banana tree.
(1944) Black on It. blue and tan unpt.
Back purple on green unpt. $0.15 $0.35 $1.25
Note : 1-100 pesos engraved face plates w/Rizal Monument.
Wmk: Banana tree.
Inflation Issue
500 Five Hundred Pesos
VG VF Unc (1945) Black on purple unpt. Rizal
Monument at r. Back Lithographed.
a. Wmk: Banana tree. Buff paper,
letters PF $0.35 $1.00 $5.00
b. Wmk: Quatrefoil kiri flower. Most on
while paper, letter PG. 0.25 0.75 2.00
Monument at r. Back Lithographed.
a. Wmk: Banana tree. Buff paper,
letters PF $0.35 $1.00 $5.00
b. Wmk: Quatrefoil kiri flower. Most on
while paper, letter PG. 0.25 0.75 2.00
1000 One Thousand Pesos
VG VF Unc
(1945) Blue-purple
Back olive. Letters PU
a. Purple on lilac unpt. (shades)
Back dk. olive-green w/o offset $0.75 $1.50 $5.00
b. As a. but back it. olive-green w/o offset. 0.75 1.50 5.00
c. As a. but back w/o offset from face plate. 0.10 0.25 1.50
d. As b. but back w/o offset from face plate.0.10 0.25 1.50
(1945) Blue-purple
Back olive. Letters PU
a. Purple on lilac unpt. (shades)
Back dk. olive-green w/o offset $0.75 $1.50 $5.00
b. As a. but back it. olive-green w/o offset. 0.75 1.50 5.00
c. As a. but back w/o offset from face plate. 0.10 0.25 1.50
d. As b. but back w/o offset from face plate.0.10 0.25 1.50
Ovpt. Varieties:
THE CO-PROSPERITY: WHAT IS IT WORTH?
a. The Filipino organization called JAPWANCAP, Inc., (Japanese War Notes Claimants Association of the Philippines) made a very serious attempt in 1967 to obtain funds from the United States for redemption of millions of pesos in Japanese occupation currency. Notes being held by that group were marked with a number of different stampings. Most are seen on higher denomination notes, but occasionally lower values are found thus marked as well, Such marked notes have no particular value the pieces.
B. Various Japanese occupation notes exist with propaganda ovpt: THE CO-PROSPERITY SPHERE: WHAT IS IT WORTH? Also, many copies of the ovpt. have been applied to the otherwise common occupation notes. It is extremely difficult to ascertain genuine ovpt. at this time.
B. Various Japanese occupation notes exist with propaganda ovpt: THE CO-PROSPERITY SPHERE: WHAT IS IT WORTH? Also, many copies of the ovpt. have been applied to the otherwise common occupation notes. It is extremely difficult to ascertain genuine ovpt. at this time.
Bangko Sentral Ng Pilipinas
VG VF Unc
10 Piso
(1944) Brown on It. brown unpt.
J. Rizal at I. (A few made in 1944 as essays: RARE
not approved for circulation).
100 Piso
(1944) Black on pink unpt. J. Rizal at I.
Back red and orange. (Printed 1944; not issued).
a. Specimen w/red ovpt. MI HON in Japanese - - 600.00
characters. W/block and serial #.
b. Like a. but w/red ovpt: Specimen and - - -
serial # all zeros.
c. W/o block and serial #. $150.00 $250.00 $400.00
|
|
 |
|
|
|
VACATION MANILA
PHILIPPINES
|
TIPS - PHILIPPINE
STOCK MARKET
|
PHILIPPINE ARENA
|
GUYABANO FRUIT
CANCER SECRET TREATMENT
|
TEST YOUR
INTERNET SPEED
|
|
|
|
|
Loading
