The first issue in 1942 was made of denominations of 1, 5, 10 and 50 centavos and 1, 5, and 10 Pesos. Near the end of the war in 1945 the Japanese issued a 1,000 Pesos note.

 
In the middle of a chaotic siege of the Philippines, the Imperial Japanese Government started issuing banknotes like the one shown here, as well as Philippines Pesos. The purpose of this beyond control of the capital and currency was the domination of an invaded territory and its subsequent anexation to the Empire.
Some of the notes were reprinted in order to render the Japanese political measures unstable. Lettering printed over a series of notes were incorporated into the cash flow of the Islands as an operation guided by allied forces. Still today, the acquisition of issued notes like the one shown is considered both historically attractive and a collector curiosity.

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AC Coin$

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