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Invasion of the Philippines: Six Japanese Invasion Notes (Billfold)

Invasion of the Philippines: Six Japanese Invasion Notes (Billfold)

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When Japan invaded the Philippines in 1941, it did not just bring war—it brought its own money. As the Japanese military took control of the islands, they flooded the economy with so-called "Mickey Mouse Money"—invasion currency meant to replace the prewar peso. But in free provinces and the jungle strongholds of guerilla resistance, the Filipino people refused to bow to the new regime.

With ink and paper in short supply, local resistance fighters and provisional governments created their own currency—guerrilla notes—printed on improvised presses with whatever materials were available. These emergency notes were more than money: they were declarations of defiance, passed hand-to-hand by patriots risking everything to preserve Philippine sovereignty. Some even featured bold portraits of American icons like President Franklin D. Roosevelt and General Douglas MacArthur, a signal of enduring loyalty to the United States and hope for liberation.

These makeshift pesos tell a story not just of conflict, but of resistance, resilience, and national pride. Each note in this collection is a genuine artifact from one of the most dramatic episodes of World War II in the Pacific—a time when paper currency became a weapon in the fight for freedom.

P.S. – The guerilla craftsmanship is raw, and that’s what makes them beautiful. A little worn, a little crude—but full of history you can hold in your hands.

 

Details of This Unique Collection:

Historical Significance:
Printed during the Japanese occupation of the Philippines (1941–1945), these notes reflect the underground economy that sustained guerilla fighters and liberated regions.

Authenticity:
Each of the six notes is an original wartime issue of Filipino guerilla currency—not replicas—and includes examples featuring FDR and General MacArthur.

Condition:
As with most guerilla money, the notes are in circulated but solid condition—honest wear consistent with their dramatic history in the field.

 

Design Highlights:

  • Portraits of FDR & MacArthur: Emblems of defiance and alliance.

  • Improvised Printing: Each note a unique example of resourceful resistance.

  • Local Variants: A variety of regional issues showcasing the decentralized nature of guerilla finance.