A number of articles have been published in The E-Sylum about the plethora of counterfeit coins coming out of China. There is a similar situation with respect to the Philippines. A number of years ago, numerous counterfeits of Philippine Guerrilla currency started appearing on eBay.

More recently, counterfeit overprints have started appearing. Many of the major dealers/collectors in the Philippines are aware of these notes and of the individuals producing them. These counterfeits have now entered into the collector market and are being sold as genuine both by honest and unscrupulous dealers/collectors. I have found numerous examples for sale at a number of coin shows.

Unfortunately, many dealers do not want to admit the notes they are selling are counterfeit because, in many cases, they paid a few hundred dollars for them. I have gotten into a few arguments with dealers who have refused to even consider the possibility that their notes are counterfeit. Of course there are always exceptions, such as Ray Czahor, who has even listed on his website ways to distinguish some of the counterfeit from the genuine notes. However, he is the exception rather than the rule.

My advice is when purchasing:

1)rare guerrilla notes or overprints, or
2)previously rare guerrilla notes in high condition, or
3)previously unreported guerrilla notes or overprints,

that a provenance be requested. If the origin of the note can not be traced back at least ten years then stay away.

To view the Czahor page of Philippine Guerilla Note Fakes, see:mysite.verizon.net/cookiejarpi/PhilippineGuerillaNoteFakes.htm