Philippines WWII 1944 1 Peso "VICTORY" Treasury Certificate

• Issuing Authority: Commonwealth of the Philippines / United States of America

• Denomination: One Peso (₱1.00)

• Series / Authorization: VICTORY Series No. 66

• Catalog Reference: Pick # 94

• Serial Number: F19692435 (Black typography, plate letter C)

• Portrait: Apolinario Mabini (Revolutionary leader and first Prime Minister of the Philippines)

• Signatures (Printed Facsimiles):

  • Sergio Osmeña (President)

  • Jaime Hernandez (Auditor General)

• Seal: Blue circular Commonwealth of the Philippines Treasury Seal (bald eagle over the Philippine shield)

• Reverse Overprint: Bold black open-face typography reading VICTORY across the orange intaglio scrollwork

• Printer: United States Bureau of Engraving and Printing (BEP), Washington, D.C.

Historical Context

• Produced in secret by the U.S. Bureau of Engraving and Printing in 1944 in preparation for General Douglas MacArthur’s amphibious landings to liberate the Philippines.

• Brought ashore with Allied forces at Leyte in October 1944, these notes immediately restored a stable, U.S.-backed monetary system and displaced the rapidly inflating Japanese occupation money.

• Because they saw heavy, continuous daily commerce in a tropical theater until post-war recovery was fully underway, surviving notes from this series routinely carry genuine combat-era and post-liberation circulation wear.

Technical & Visual Assessment

• Technical Grade: Very Good to Fine (VG 10 – F 12)

• Preservation & Wear Characteristics:

  • Circulation: Shows honest, moderate-to-heavy commercial circulation with visible horizontal and vertical folding throughout the body.

  • Margins & Edges: Noticeable handling rounding at the corners and a small edge notch/irregularity along the upper margin above the portrait frame.

  • Surface Toning & Soiling: Distinct environmental age-toning, pocket handling soiling, and light foxing/spotting across the field, with a darker area of contact soiling along the lower reverse border.

  • Print Quality: Serial numbers (F19692435) and signatures remain fully legible, the blue Treasury seal retains clear definition, and the reverse black VICTORY overprint stands out sharply against the orange background.

Collector Value & Market Pricing

• Market Classification: Philippine WWII Liberation / US Commonwealth Treasury Certifica