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Japanese Occupied Philippines 5 Peso With Ink Stamp

 
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Pillar of the Community
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2066 Posts
 Posted 02/12/2019  7:05 pm Show Profile   Bookmark this topic Add Arkie to your friends list Get a Link to this Message
Is anyone familiar with this stamp?




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10296 Posts
 Posted 02/13/2019  12:59 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Pillar of the Community
United States
659 Posts
 Posted 02/14/2019  10:31 pm  Show Profile   Bookmark this reply Add lettow to your friends list Get a Link to this Reply
It is the stamp of the Japanese War Notes Claimants Association of the Philippines JAPWANCAP. This was an organization that collected up Philippine JIM in the 50s and 60s and tried to sue in Japan and the US to force redemption of the notes. The attempt was unsuccessful.
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 Posted 02/15/2019  07:30 am  Show Profile   Bookmark this reply Add scopru to your friends list Get a Link to this Reply
Great info lettow
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328 Posts
 Posted 02/15/2019  7:25 pm  Show Profile   Bookmark this reply Add ShareBear to your friends list Get a Link to this Reply
During the Japanese occupation, the Philippines Peso was replace with the Japanese Peso. All transactions in occupied areas had to be conducted in Japanese Pesos. At the same time in unoccupied areas there was used of Local Emergency Pesos. After the war the Japanese Peso was deemed worthless by the Allied . Which was unfortunate for those that were forced to used them. Prewar Pesos could be exchanged at Par and Local Emergency Pesos could be exchanged on a sliding scale. The stamp is from one of 2 large groups who collect them and tried unsuccessfully to force the Americans to exchange them for new currency.

Like all things paper money is only worth what someone else will give your for them.

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13297 Posts
 Posted 02/16/2019  02:33 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
The JAPWANCAP overstamp makes for an interesting story, but does not add much in terms of value, given the large percentage of surviving JIM-peso notes that were processed by the JAPWANCAP. It is quite easy to assemble a "full set" of Philippine JIM both with and without the stamp.

From the Wikipedia article on JIM notes:

Quote:
After World War II, an organization called "The Japanese War Notes Claimants Association of the Philippines, Inc." (JAPWANCAP) was founded on 8 January 1953. Its purpose was to pressure the Philippine and U.S. governments to redeem or to pay a fraction of the value of the Japanese military issues of currency for the Philippines. The Association held the notes, issued membership certificates, official ID cards and deposit pass books. These certificates were issued for a fee. The Filipino legislature was not interested in pursuing the matter and nothing came of it. In 1967, JAPWANCAP unsuccessfully sued the United States government for reciprocity and lost. Court battles against Japan have raged until recently with cases going to Japan's highest courts.

To date, no person issued Japanese Invasion money in place of their own money has been awarded compensation. Pursuant to the Treaty of San Francisco signed September 1951 Japan made restitution on a national, not individual, level. Large amounts of Japanese invasion money still exists and most issues can be purchased cheaply by collectors.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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 Posted 10/09/2019  8:06 pm  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
Great info, I learned something today.
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