Japanese Invasion Money (VJ)

The Japanese entered British Malaya overland from Kota Bahru, Kelantan on 8 December 1941 and worked their way thereto until the fall of Singapore on 15 February 1942. Overnight the Straits Settlements money became useable in Malaya. The Japanese issued paper their currency of 1, 5, 10 and 50 cents and 1, 5 and 10 dollars. The 1, 5 and 10 dollar notes initially had serial numbers (as they were printed in Japan); these were later omitted (due to massive mass production overseas). 

During the Japanese occupation of Malaya, they had one fast and hard rule regarding currency. If there is insufficient funds just print more. And this was precisely what they did, leading to inflation. Thus, the issuance of higher denomination.

Metal being a precious commodity for the must needed war materials,  the Japanese did not issue coinage during their occupation. 

The Japanese had no way to ascertain the amount of money they had issued as their resident forces (in Philippines, Malaya, North Borneo, Sarawak, Brunei, Burma, Netherlands and Oceania) were printing their own notes indiscriminately and they could only gauge by the weight of paper used in the printing. It is estimated between $7 to 8 billion had been issued during the Japanese occupation.

15 August 1945 Emperor Horohito declare surrender of Japan and the termination of war. The US / British declared this day as VJ (Victory Over Japan) day.

The surrender attested the end of three years and eight months of draconian, medieval and sadist Japanese military rule.

At the end of the war, and with their demise of Japanese sovereignty, the British reinstated the Straits Dollar and Japanese Invasion Money (JIM) were worthless.

The British deemed the JIM fit for fire. 

  

To publicize this, it is presumed that the British, overprinted the $5 JIM in red with "MALAYAN" on the  top and "WAR SOUVENIR" bottom; with "VJ" in between. "Grim Memories of 1941 - 1945" was printed in black italics across "VJ". These leaflets / propaganda notes (money) was airdropped by beginning 20 August 1945. The $5 JIM VJ notes had two types, one with block MK and the other block MR.

These notes happen to be one of my pride and joy. Rating RRR in rarity. Below the fake version and the original version.

Fake version (JIM is original only the overprint of VJ is fake). The red ink is too dark and too thick and the words grim memories and 1945 appears to have no gap on the VJ. Notice the block is MP and $10 denomination.  

Original overprint VJ. $5 denomination MR block.

Closeup of the Original. The red ink is finer and thinly overprinted. There is a gap between Grim Memories and 1945 and the VJ.