4 US Philippines National Bank CEBU Emergency WW2 Notes -1, 5,10 & 20 Pesos

Description

4 US Philippines National Bank CEBU Emergency WW2 Notes -1, 5,10 & 20 Pesos
Philippine emergency notes by the Cebu Currency Committee in 1941, issued under Philippine National Bank
S215 - 1 Peso, Blue, Lt. orange
S216- 5 Pesos, Black on Green
S217- 10 Pesos, Black on Yellow
S218 - 20 Pesos,  Black on Orange
Cebu Currency Committee
Tile Cebu Currency Committee was created by President Ouezon in a telegram dated December 29,1941. Simeon C Miranda, Acting Manager of the Cebu Branch of the Philippine National Bank, was designated Chairman. with Provincial Auditor Roman T, del Bando and Provincial Fiscal Feliberto Imperial Reyes as Members.
The first notes produced were of 1 Peso denomination, printed in blue on white bond paper. By mid-February 1942, one million notes had been printed. By then stocks of paper had been obtained, primarily from the Bais Cellulose factory in Negros Oriental, and printing of the other denominations, in black, was undertaken. The centavo notes were printed on a thick yellow paper. Each of the peso denominations had an underprinting in a different color. Officially, printing ended in late March, by which time a total of 11,005,000 pesos had been printed and turned over to the Philippine National Bank for distribution.
For reasons never explained, Chairman Miranda had an additional 550,000 pesos printed in 5 and 20 Pesos notes, without the knowledge of the other Committee Members. On April 8, he turned the entire amount over to two USAFFE officers. When the Japanese invaded Cebu two days later, the currency was secretly hidden to prevent its capture. Later on, the Cebu guerrillas retrieved it and used it to finance their operations. Since no currency was printed in Cebu after the surrender, as was done in other areas, these notes may be regarded as a "guerrilla issue." Most counterfeits are poorly done, none as good as the genuine. Serial numbers are often crude, sometimes faded to illegibility and many of them have numbers far beyond the genuine.
ON GRADING
The grade I gave is just my opinion and may differ from others. Grading is subjective and not an exact science. Please take a look at the photo and grade it accordingly. Several subjective factors of personal preference may be considered different by others. These include paper texture, quality, color, folds, markings, stains and overall eye appeal.
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