Japanese Occupation Medals

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During the Japanese occupation of the Philippines, no coins were officially minted for circulation. Instead, the Japanese Imperial Army issued Japanese Invasion Money (JIM)—military-printed banknotes that served as currency not only in the Philippines but also across other territories in occupied Southeast Asia.

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Alongside paper currency, Japan commissioned the production of commemorative medals in the Philippines to mark its military victories there. These were often struck in silver—recycled from seized coins and bullion—or in bronze, and were presented to soldiers as awards or kept as souvenirs of the successful campaign. Today, these medals are extremely rare and command a premium among collectors.

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Below is a list of known Japanese Occupation medals, illustrated with images sourced from past Heritage Auctions sales. For pricing references, please consult the links to the respective past auctions.

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