1 Peso Victory Note

The following information about the Victory notes came from the site http://www.raleighcoinclub.org/. This is a part of Raleigh Coin Club Newsletter(September 2003) as I think this would be helpful in this topic.

In October of 1944, MacArthur (along with the US Army and Navy) did return to the Philippines. By February of 1945, the islands were secured and the Philippine Islands were once again under American sovereignty. Carried along with the American forces was a new issue of Treasury Certificates to reestablish the US-Philippine monetary system on the islands.

These notes, while maintaining the designs of the pre-WWII issues, were distinguished from previous notes by the overprinting of “VICTORY” on the back of each note. “Victory Notes,” as they have come to be called, were issued in denominations of one, two, five, ten, twenty, fifty, one hundred and five hundred pesos.

Like the older issues of Treasury Certificates, this one also got smaller text found in the upper border that applies to all victory notes which says: BY AUTHORITY OF AN ACT OF THE PHILIPPINE LEGISLATURE, APPROVED BY THE PRESIDENT OF THE UNITED STATES JUNE 13, 1922.

This 1 Peso note bears the portrait of Apolinario Mabini, A Filipino Hero who is often referred to as "the Sublime Paralytic", and as "the Brains of the Revolution".To his envious enemies, he is referred to as the "Dark Chamber of the President" (from Wikipedia.org). This was note was signed by President Sergio Osmeña was the second President of the Commonwealth of the Philippines during that time.

The next one peso is another type of victory with an additional overprint at the back.

Reference: "Philippine emergency and guerrilla currency of World War II" by Shafer Neil. Seen in the appendix of the brief summary of Philippine paper money.

Independence was granted to the Philippines on July 4, 1946 but the new nation was not yet ready to supply its population with a centralized new currency. Treasury Certificates of U.S. manufacture continued to be issued until the establishment of the Central Bank of the Philippine on June 15, 1948. The Bank overprinted some VICTORY series notes at first as you can see in this 1 peso.

They added CENTRAL BANK OF THE PHILIPPINES in red ink at the back as the beginning of a new change in Philippine notes.

During the next year(1949), after the print in Victory series, the Bank issued notes under its own name and bearing that date.

This note are often referred as the "English Series" wherein the pictures of these banknotes are in my previous post under the same label. I hope that this post can be something you learn from and perhaps this can be appreciated by others as well.