At the 17 September 2015 meeting of the NSSA a member showed Philippine Japanese Invasion notes endorsed with a JAPWANCAP stamp. Japanese troops occupied the Philippines for over three years from late 1941 to early 1945 and introduced what are now called Japanese Invasion Money (JIM).
Illustrated are Philippine Japanese Invasion notes endorsed with a JAPWANCAP stamp indicating an attempt to recover value after WW2. The notes show considerable wear indicating a long period of circulation.
“The Japanese War Notes Claimants Association of the Philippines, Inc.” (JAPWANCAP) was founded in 1953 to lobby the Philippine and U.S. governments to redeem the notes or at least pay a fraction of their value.
The Claimants Association accepted the notes from the public for a fee, but the Philippine Government did not take up the proposal. In 1967 the Association also tried to sue the U.S. Government, but lost.
While JIM is relatively easy to obtain, notes with the JAPWANCAP over-stamp are seldom seen.
For more information on the issue of Japanese Invasion Money in the Phiippines and The Japanese War Notes Claimants Association of the Philippines please see this article on Wikipedia.