WWII Philippines Japanese Invasion Money
'Mickey Mouse Money' - 'JIM Notes'

What You See Is What You Get

Lot YP0601899 – Occupied Philippines Japanese military scrip 1942 to 1945. In this lot you get:

• (1x) Series 1943 5 Pesos, Rizal Monument
• (1x) Series 1942 10 Pesos, Banana Plantation
  
• (1x) Series 1943 100 Pesos, Rizal Monument

Military scrip and de facto currency issued by the Imperial Japanese Government for the occupied U.S. Commonwealth of the Philippines. Notes are in circulated (used) condition. Light dirt, stains, edge wear, small nicks and scuffs. Paper solid, no splits or seps; usual counter stamps, folds and creases. Details clear. Colors good. Much crispness remains. Rates an old-school VG+/F.

Nicknamed “Mickey Mouse Money” by Filipinos during the Second World War, and later called "JIM" notes (Japanese Invasion Money) by collectors, these authentic artifacts document turbulent times. What you see is what you get. Makes a nice gift for the Old Cold Warrior, student, educator, or history buff in your life!

Please see my other items for more German, Japanese and other historical curios.

Q: What am I buying, and why would I want it?

A: This is a selection of Second Series notes issued by Japan between 1942 and 1945 for the occupied Philippines in World War Two.  

In January 1942 Imperial Japan occupied the Commonwealth of the Philippines. Martial law was declared and a 1:1 exchange rate between the Japanese military peso and the existing Commonwealth Peso (₱) was set. Japanese forces had arrived carrying millions in this scrip which had conveniently been printed by the Bank of Japan well in advance of the war. Officially known as 'Southern Development Bank Notes', Filipinos nicknamed the occupation notes "mickey mouse money" - play money. However, refusal to accept this play money carried the death penalty.

The first series of occupation notes had a generic banana plantation scene for their vignette and centavo values retained this design for the duration. In 1943 a second series, denominated in pesos and featuring Manila's Jose Rizal monument, was introduced. The notes had been redesigned to support Japanese PSYOP efforts promoting pan-Asian nationalism and economic integration. They branded their imperial experiment 'The Greater East Asia Co-Prosperity Sphere' and gave it a suitably militant motto, "Asia for the Asians!" 

Jose Rizal was a Philippine patriot who had been executed by the Spanish in 1896 for his revolutionary ties and subversive sympathies. His monument stands on his execution grounds in the heart of Manila. He left a complicated legacy. Future U.S. president William Howard Taft, when he was governor general of the Philippines following the Spanish-American War, was a hearty proponent of the Rizal legend. The irony of Imperial Japan's endorsement of him should not be lost. 

Immediately upon Liberation the Japanese scrip was declared worthless. Tons of the notes were found in bank vaults across the islands. Much of the booty that wasn't burned, buried or dumped, was (oddly,) given to the Red Cross which passed them along as souvenirs. At “liberation parties” across the archipelago great piles of the things were tossed out over the happy crowds like confetti. Those examples are usually identifiable by having a pair of punch holes in them. Buyer Beware: Counterfeits (also quite oddly,) exist.

You will hold history in your hands.