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« on: September 21, 2010, 02:12:36 pm »
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 Sheep Hi,everyone.  So I have been trying to find out roughly how much these 2 bills are worth. Im not doing so well! I couldnt find anything online for the 1922 bills just the WWII victory series no.66 philippines pesos. I broke down and called a local dealer. He said that these bills are so common he "gives them out on halloween to all the kids"!,And told me there only a soveignier. Is it really possible that these are that common, being that they are from 1922 ?

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« Reply #1 on: September 21, 2010, 03:33:13 pm »
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You sure you don't mean World War I (1914-1918) instead of World War II (1939-1945) ?   At least the note looks legitimate.....and yes, they were probably pretty common. 

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http://philmoney.blogspot.com/2007_03_01_archive.html



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« Reply #2 on: September 22, 2010, 04:54:36 am »
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BA, I think they were overprints on that earlier date.

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« Reply #3 on: September 22, 2010, 07:22:41 am »
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Both bills at the top say approved by the president of the U.S. June 13,1922?

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« Reply #4 on: September 23, 2010, 04:22:55 pm »
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Quote:Posted by GoldDigger1950
BA, I think they were overprints on that earlier date.

Yeah, GD, you're right.   I did some more checking....these were printed by the US Bureau of Engraving and Printing using the original plates (remember the Philippines were a US territory) and then overprinted with the Victory so they could be used after the allies took the Philippines back from the Japanese.

These are two of the better accounts. 

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http://www.raleighcoinclub.org/articles/2003/Sep-03.PDF
 
 

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http://www.guerrilla-money.com/Victory_series/




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« Reply #5 on: September 24, 2010, 03:54:45 pm »
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BA, they did the same thing in Hawaii after the war. It was too costly and way too time consuming to make new plates. Speed was of the essence to start the recovery after the war.

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« Reply #6 on: September 25, 2010, 05:44:42 am »
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 [great]Thanks the links you posted were very helpful and I did learn quite a bit about the victory bills. So Im not sure if I totally understand exactly what happened w/ these? The 2 I have are large bills the small came later in the 40's and the victory series no. 66 had to do w/ there president who happened to be 66 before the philippines was liberated again in the 40's. There was something about overprinting in red? what does that mean? And as for these bills being aproved by our us pres. in the 20's; is it being implied that they were original plates but some sort of alteration was done for the purpose of saving time and funds? Great

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« Reply #7 on: September 26, 2010, 09:40:14 pm »
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        The bottom line is that as far as the world outside the Philippines is/was concerned, except for the period of Japanese occupation during World War II, the Philippines were a wholey owned subsidary of the United States from the time Spain ceded them to the US on 10 December 1898 as part of the treaty ending the Spanish American War until  4 July 1946 when the United States formally recognized Philippine independence.  From 1935 until July 1946, the Philippines were a US commonwealth just as Puerto Rico is today.   Prior to that, they were a US territory.  Under both conditions, the United States government would have ultimate authority and approval over governmental matters including the printing of currency.
     Overprinting is/was done to help prevent forged currency from flooding an area as one army retreats and another takes it's place.  To prevent the departing army from making the recovery job more difficult (and to make it harder for "profiteers" to flood the market with bogus currency) the new occupiers will declare any currency they have not issued as valueless.  The quickest and easiest way to do that is to print over existing currency (as with the "victory") in a contrasting color.



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« Reply #8 on: September 27, 2010, 03:47:40 am »
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That was a really great explanation:)Thank you so much for taking the time!

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