"Mickey Mouse money" One Centavo The Japanese Government Money WWII P-AF

Description

"Mickey Mouse money" One Centavo The Japanese Government Money WWII P-AF
"Mickey Mouse money" One Centavo The Japanese Government Money WWII P-AF
"Mickey Mouse money" One Centavo The Japanese Government Money WWII P-AF
During World War II in the Philippines, the occupying Japanese government issued fiat currency in several denominations; this is known as the Japanese government-issued Philippine fiat peso (see also Japanese invasion money). The puppet state under José P. Laurel outlawed possession of guerrilla currency, and declared a monopoly on the issuance of money, so that anyone found to possess guerrilla notes could be arrested.
Like most Japanese colonial currency from this period, a letter code was used on many of the notes. The first or top letter “P” indicates the note was printed and issued for Philippines. The second letter or letters indicate the block (or printing batch) of the note, there are single letter blocks and double letter blocks for Philippines where this system applies. Later two letter blocks can be identified by a hyphen separating the letter "P" from the block letters. Other issues used serial numbers in an effort to prevent counterfeiting, which had become widespread. However, imperfections in this system sometimes resulted in multiple notes with the same serial number. Later in the war, ink shortages and unconventional cheap ink alternatives resulted in poor quality printing giving rise to a fairly wide variety of coloration and quality, with some notes having faint and broken details in their printing and others having thick and even blotchy printing. When these notes were demonetized, two punch holes were made through the notes to indicate they had been "cancelled" and no longer had redeemable value.
Some Filipinos called the fiat peso "Mickey Mouse money". Many survivors of the war tell stories of going to the market laden with suitcases or "bayong" (native bags made of woven coconut or buri leaf strips) overflowing with the Japanese-issued bills. According to one witness, 75 "Mickey Mouse" pesos, or about 35 U.S. dollars at that time, could buy one duck egg. In 1944, a box of matches cost more than 100 Mickey Mouse pesos.
Measures 3-3/4" x 1-3/4"
ORIGINAL - NOT A REPRODUCTION
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_gsrx_vers_618 (GS 6.9.6 (618))