49

PHILIPPINES
Value

50 Pesos
Issued by

Philippine National Bank
Date

02.05.1916 - series 1920
Remark

This note was never officially issued by the Philippine National Bank..
10.000 pieces were captured and issued during WWII by the Japanese (serial # 90.001-100.000).
The others were looted by Moros in the Province of Mindanao who sold them at tenth of their face value.
Thus the notes are still fairly available.

 General Henry W. Lawton

 Arms
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