Image courtesy of jt40tmh of ebayThese banknotes are interestingly, uncut. In one large sheet of uncut paper money are 32 pieces of banknotes. That is how they print them in the mint. Sometimes, uncut sheets of eight banknotes (2 columns of four) are also available for collectors.
The banknotes in the photo are specimen notes which mean they are not of legal tender. However, I have seen uncut legal tender banknotes. Those you can use to pay for your groceries. Just imagine the cashier's surprise if you hand out an uncut sheet for payment. Without the "specimen" overprint, uncut notes are still legal tender.
Most likely you won't be doing that though. There aren't too many uncut sheets around so they fetch a high price in the numismatic community. I saw a sheet of eight 10 peso bills (new design series) for sale at SM Megamall for 600 pesos. A similar sheet of 20 peso bills with overprint was 1,200 pesos.
This definitely makes a good collectors' item.