Robert S. writes: I have a bill (paper money) Face says “THE JAPANESE GOVERMENT TEN PESOS” in English. Has Japanese characters at the bottom, and the letters PE in red. Can you tell me any thing about them. Thanks.
You have “Japanese Invasion” money that was distributed on the Philippine Islands during the Japanese occupation in WW II. The notes were produced in vast numbers and were found stored in warehouses by U.S. troops after the islands were liberated. Most are common.
After the war, a great many people turned them and received a receipt. They hoped that the money would be redeemed for U.S. dollars. Though not valuable, they are interesting and historic. Many Far East collectors collect them by series number.
Values depend on issue, block number, series, denomination and grade. Some notes are found overprinted with anti-Japanese slogans or stampings form the Japanese War Notes Claimants Association of the Philippines that, in 1967, tried to get the United States Government to redeem the millions of pesos in occupation notes. Value Range: US 10 cents – $150.