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Oceania refers to British New Guinea, the Solomon and Gilbert Islands and other small island outposts. For the Japanese these islands were as mush a defensive position for the larger islands within the Co-Prosperity Sphere as they were a potential jumping off point for the eventual conquest of Australia. In 1942 the Japanese issued paper script currency of a ½, 1 and 10 Shilling note and a 1 Pound note. The Japanese inability to mount an attack against Australia mitigated the need for larger denomination notes.

Here is a note meant as a replacement of a local currency upon invasion. It is a 1 shilling note printed in 1942. The note is blue on green underprint. The obverse of the note depicts a breadfruit tree to the left and palm trees to the right. The reverse shows the denomiation in several locations within an ornate design. This note was issued by Japan with the intention of invading the Oceania region.

• Krause# Pick-2a