Sergio Osmena, the Speaker of the first Philippine Assembly and the President of the Philippines during the critical stage nearing the end of World War II and in the transition period to an independent nation.
Old Legislative Building where the first Philippine Congress was held
Sergio Osmena replaced the portrait of Luna in the English Series. The design of the obverse was later revised, switching the positions of the "50" on the lower right corner with the Central Bank logo on the upper right, the signature of the Central Bank Governor was placed beside the signature of the President of the Philippines, the font for Republika ng Pilipinas was also changed and the text Limampung Piso was made into one line. Demonetized on March 1, 1974 pursuant to Presidential Decree 378 dated January 21, 1974 amending Presidential Decree 168 dated April 2, 1973.