The field of psychological operations (PSYOP) and aerial propaganda leaflets is vast as billions of leaflets were dropped during WWII, with thousands of different themes. One form of these propaganda leaflets came in the form of a ‘fake’ banknote and thus became a very strong psychological tool.

These banknotes were dropped from planes onto Japanese civilians and soldier’s below. On June 18th, 1945 Time Magazine mentioned the 10-yen propaganda banknotes in an article entitled “Down with the Gumbatsu!” The article tells of the major PSYOP campaigns to induce Japan to surrender, stating, “Leaflet bombing of Japan has been stepped up sharply since V-E [Victory in Europe] day. Both B-29 Super-fortresses and carrier-based planes are dropping paper salvos, at the rate of 500,000 to 1,000,000 leaflets daily.”

These banknote leaflets are one of the rarer propaganda leaflets dropped by U.S. forces as many were not saved or degraded with time.