Kasaysayan ng Salapi

(1)

Prepared by:

Mrs. Hazzel Fermin-Alvarez

(2)

PRE-HISPANIC ERA

Penniform Gold Barter Ring

Trade among the early Filipinos and with traders from the neighboring islands was conducted through barter. The inconvenience of barter later led to the use of some objects as medium of exchange. Gold, which was plentiful in many parts of the islands, invariably found its way into these objects that included the piloncitos, small bead-likeb gold bits considered by the local numismatists as the earliest coin of the ancient Filipinos, and gold barter

(3)

SPANISH PERIOD

Three hundred years of Spanish rule left many indelible imprints on Philippine numismatics. At the end of the Spanish regime, Philippine money was a multiplicity of currencies that included Mexican pesos, Alfonsino pesos and copper coins of other currencies.

The cobs or macuquinas of colonial mints were the earliest coins brought in by the galleons from Mexico and other Spanish colonies. The silver dos mundos or pillar dollar is considered one of the world’s most beautiful coins. The barilla, a crude bronze or copper coin worth about one centavo, was the first coin struck in the country.

Coins from other Spanish colonies also reached the Philippines and were

counterstamped. Gold coins with the portrait of Queen Isabela were minted in Manila. Silver pesos with the profile of young Alfonso XIII were the last coins minted in Spain. The pesos fuertes, issued by the country’s first bank, the El Banco Espanol Filipino de Isabel II, were the first paper money circulated in the country.

(4)

Cincuenta (50) Pesos Fuertes

issued by El Banco Español

Filipino de Isabel II (1865)

The

Philippine

peso

was

established on May 1, 1852, when

the Banco Español-Filipino de

Isabel II, the first commercial bank

in the Philippines and now the

Bank of the Philippine Islands,

introduced notes denominated in

pesos fuertes (strong pesos,

(5)

Cincuenta (50) Pesos Fuertes

issued by El Banco Español

Filipino (1883)

In 1868, the Spanish

Revolution

overthrew

Isabel II who was forced to

exile in Paris, France. Upon

hearing the news, the

Banco dropped the name

of Isabel II and renamed it

the El Banco Español

Filipino.

(6)

Veinte Cinco (25) Pesos

Fuertes

Treasury Note issued by El

Banco Español Filipino (1877)

The Insular Government

then issued Treasury Notes

in 1877 also denominated

in pesos fuertes.

(7)

REVOLUTIONARY PERIOD

Asserting its independence,

the Philippine Republic of

1898 under General Emilio

Aguinaldo issued its own

coins and paper currency

backed by the country’s

natural resources.

One peso and five peso

notes printed as Republika

Filipina Papel Moneda de Un

Peso and Cinco Pesos were

freely circulated. 2 centimos

de peso copper were also

issued in 1899.

(8)

Un Peso Banknote

Philippine Republic of 1898

This Un (1) Peso banknote was used by the Philippine Government of 1898 under General Emilio Aguinaldo. Notes like this with serial numbers and signatures are very rare. This note was circulated along with Cinco Pesos banknotes and 2

centimos de peso copper coins. The

printing of these currency displays the determination of the Aguinaldo

Government to assert its independence.

Text on obverse:

Republica Filipina Papel Moneda de Un Peso

Ley 24 Abril 1899, El Delgado del Gobierno

1 Peso

Text on obverse:

Republica Filipina Un Peso

El Presidente de la Republica, Emilio Aguinaldo; El Presidente Consejo de Gobierno, Pedro A. Paterno

Este billete sera opportunamente cambiado por la Republica Filipina, y recibido en nago de contribuciones, derechos de Aduana y todo genero obligaciones

El falsificador sera castigado con todo el rigor de la Ley

(9)

AMERICAN PERIOD

The Americans instituted a monetary system for the Philippine based on gold and pegged the Philippine peso to the American dollar at the ratio of 2:1. The US Congress approved the

Coinage Act for the Philippines in 1903.

The coins issued under the system bore the designs of Filipino engraver and artist, Melecio Figueroa. Coins in denomination of one-half centavo to one peso were minted. The renaming of El Banco Espanol Filipino to Bank of the Philippine Islands in 1912 paved the way for the use of English from Spanish in all notes and coins issued up to 1933. Beginning May 1918, treasury certificates replaced the silver certificates series, and a one-peso note was added.

(10)

20 Pesos Banknote

Philippine National Bank

Circulating Note (series of

1937)

Obverse: William A. Jones and

seal of the Philippine National

Bank

Reverse: Seal of the Philippine

National Bank

Text

Obverse: The Philippine

National Bank will pay the

bearer on demand twenty

pesos in lawful money of the

Philippines. Issue authorized

March 24, 1937 under the

provisions of act numbered

2612 of the Philippine

(11)

1941 Ten Pesos Banknote

American Period Treasury

Certificate (series of 1941

Obverse: George Washington and

seal of the Philippine-American

Commonwealth

Text

Treasury Certificate. By authority

of an act of the Philippine

Legislature; Approved by the

President of the United States

June 13, 1922. This certifies that

there have been deposited in the

treasury of the Philippines; Ten

Pesos; payable to the bearer on

demand; in silver pesos or in legal

tender currency of the United

States of Equivalent Value.

(12)

200 Peso Banknote - Bank of

the Philippine Islands (1928)

American Regime

The front features Lady Justice

holding scales and the seal of the

Bank of the Philippine Islands

(BPI). The signatures are of D

Garcia (cashier) and Fulg

Borromeo (president) . The serial

number has been smudged in the

scan upon request of the

contributor.

This is one of the rarest

banknotes ever issued during the

American Regime. Only 1,700

were printed and not so many

have survived. A more worn out

version of this banknote was sold

at

ebay

for more than $1,000.

(13)

Twenty Peso Banknote

American Period Treasury

Certificate

Obverse: Mayon Volcano and seal

of the Philippine-American

Commonwealth

Reverse: Seal of the

Commonwealth

Text

Philippine treasury Certificate. By

an Act of the Philippine

Legislature. Approved by the

President of the United States

June 13, 1922. This certifies that

there have been deposited in the

treasury of the Philippine Islands

twenty pesos payable to the

bearer on demand, in silver pesos

or in gold coin of the United

States of equivalent value. Mt

Mayon.

(14)

Fifty Peso Banknote (1920

series) issued in the

Philippines by the American

Government

The front features Maj. Gen.

Henry W. Lawton. An

overprint on top of the PNB

seal reads "Manila, P.H., May

2, 1916". The reverse features

the seal of the Philippine

National Bank.

Text reads: "Philippine

National Bank Circulating

Note"; "The Philippine

National Bank will pay the

bearer on demand Fifty Pesos

in lawful currency of the

(15)

One Peso Banknote from

the American Series

Obverse: portrait of Apolinario

Mabini, seal of the

Philippine-American Commonwealth with

overprint: "Manila, Philippines"

Reverse: "One Philippine Peso"

Text reads: "By authority of an act

of the Philippine Legislature,

approved by the President of the

United States June 13, 1922; This

certifies that there has been

deposited in the treasury of the;

Philippines; One Peso; Payable to

the bearer on demand; in silver

pesos or in legal tender currency

of the United States of equivalent

value." Series of 1936, Treasury

Certificate

(16)

Twenty Centavo Coin (1922)

Culion Leper Colony

Reverseo: Caduceus,

"Philippine Health Service",

year mark (1922) flanked by

two stars

Obverse: "20 Centavos",

"Culion Leper Colony",

"Philippine Islands"

Shape: Round

(17)

20 Centavo Banknote

Culion Leper Colony (1942)

Obverse: This certifies that

the Philippines

Commonwealth Bureau of

Health Culion Leper Colony is

obligated to pay the bearer

twenty centavos in legal

tender currency.

Reverse: Issued by authority

of the President of the

Philippines. Transmitted

2/9/42 through the

Commanding General,

USAFFE, Iloilo

(18)

1/2 Centavo Coin (1913)

Culion Leper Colony

Obverse: Caduceus, Bureau of Health, year mark (1913)

flanked by two stars

Reverse: "1/2 Centavo", "Culion Leper Colony", "Philippine

Islands"

Shape: round Diameter: 19mm

Composition: aluminum

Note on metal composition: This coin belongs to the first

batch issued by the American Period in 1913. This batch and another in 1920 were made of aluminum which was later found to be corrosive to antisepctics used in the sanitarium. Later issues in 1922, 1925, 1927, and 1930 were made of nickel.

Note on Caduceus: The caduceus is typically depicted as a

short herald's staff entwined by two serpents in the form of a double helix, and sometimes is surmounted by wings. The caduceus is sometimes used as a symbol for medicine, especially in North America.

(19)

One Peso Coin (1925)

Culion Leper Colony

Obverse: Dr. Jose P. Rizal,

"Culion Leper Colony",

Philippine Islands

Reverse: Seal of the Philippine

Health Service, "Philippine

Health Service", "One Peso",

year mark

Diameter: 35mm

Composition: copper-nickel

Mintage: 20,000

(20)

One Peso Coin

American Occupation (1905)

Obverse: Lady Liberty striking an anvil with a hammer

with a volcano (Mt. Mayon) erupting in the

background, "One Peso", "Filipinas"

Reverse: arms of the US Territories, "United States of

America", year mark

Shape: round

Edge: reeded

Material: silver

Designer: Melecio Figueroa

The coin in the image above is very expensive! It's

selling for $4000!

The figure of Lady Liberty striking the anvil with a

hammer is supposed to depict the work done by the

Americans in creating a progressive Philippines. Many

suspect that the lady in the figure is actually Blanca,

the daughter of the designer.

Arms of the Commonwealth

This is a broadwinged eagle, sitting atop a shield

divided into two registers. The upper register has 13

stars, and the lower register has 13 vertical stripes.

(21)

Fifty Centavo Coin

American Occupation (1908)

Obverse: Lady Liberty striking an anvil with a hammer

with a volcano (Mt. Mayon) erupting in the background,

"Fifty Centavos", "Filipinas"

Reverse: arms of the US Territories, "United States of

America", year mark

Shape: round

Edge: reeded

Material: silver

Designer: Melecio Figueroa

The figure of Lady Liberty striking the anvil with a

hammer is supposed to depict the work done by the

Americans in creating a progressive Philippines. Many

suspect that the lady in the figure is actually Blanca, the

daughter of the designer.

Arms of the Commonwealth

This is a braodwinged eagle, sitting atop a shield divided

into two registers. The upper register has 13 stars, and

the lower register has 13 vertical stripes.

(22)

Twenty Centavo Coin

American Occupation (1903)

Obverse: Lady Liberty striking an anvil with a hammer with a

volcano (Mt. Mayon) erupting in the background, "Ten

Centavos", "Filipinas"

Reverse: arms of the US Territories, "United States of America",

year mark

Shape: round

Edge: reeded

Diameter: 20.5mm

Material: silver

Designer: Melecio Figueroa

The figure of Lady Liberty striking the anvil with a hammer is

supposed to depict the work done by the Americans in creating

a progressive Philippines. Many suspect that the lady in the

figure is actually Blanca, the daughter of the designer.

Arms of the Commonwealth

This is a braodwinged eagle, sitting atop a shield divided into

two registers. The upper register has 13 stars, and the lower

register has 13 vertical stripes.

(23)

Ten Centavo Coin

American Occupation (1919)

Obverse: Lady Liberty striking an anvil with a hammer with a

volcano (Mt. Mayon) erupting in the background, "Ten

Centavos", "Filipinas"

Reverse: arms of the US Territories, "United States of America",

year mark

Shape: round

Edge: reeded

Diameter: 11.0mm

Material: silver

Designer: Melecio Figueroa

The figure of Lady Liberty striking the anvil with a hammer is

supposed to depict the work done by the Americans in creating a

progressive Philippines. Many suspect that the lady in the figure

is actually Blanca, the daughter of the designer.

Arms of the Commonwealth

This is a braodwinged eagle, sitting atop a shield divided into two

registers. The upper register has 13 stars, and the lower register

has 13 vertical stripes.

(24)

Five Centavo Coin

American Occupation (1903)

Obverse: figure of a man seated beside an anvil and holding a hammer with a

volcano (Mt. Mayon) erupting in the background, "Five Centavos", "Filipinas"

Reverse: arms of the US Territories, "United States of America", year mark Shape: round Edge: plain Diameter: 21.2 mm (1903-28) 19mm (1930-45) Weight: 77.16 grains (1903-28) 75.16 grains (1930-45)

Composition: 75% copper, 25% nickel (1903-41),

65% copper, 12% nickel, 23% zinc (1944-45)

Designer: Melecio Figueroa

The dimensions of this coin were changed in 1930. When the size of the 20 centavo coin was reduced, it had about the same size as the 5 centavo coin. Because of the losses because of the confusion between the two coins, the 5 centavo coin was reduced in size.

The figure of the man in the obverse is an allegory for the hard work being done by the Filipinos in building their own future.

(25)

Half Centavo Coin

American Occupation (1911)

Obverse: figure of a man seated beside an anvil and holding a hammer with a

volcano (Mt. Mayon) erupting in the background, "Five Centavos", "Filipinas"

Reverse: arms of the US Territories, "United States of America", year mark Shape: round

Edge: plain Material: copper Diameter: 24mm Weight: 40 grains

Composition: 95% copper, 5% zinc and tin (1903-1941); 95% copper, 5% zinc

(1903-1941)

The figure of the man in the obverse is an allegory for the hard work being done by the Filipinos in building their own future.

Arms of the US Territories

This is a braodwinged eagle, sitting atop a shield divided into two registers. The upper register has 13 stars, and the lower register has 13 vertical stripes.

(26)

Half Centavo Coin

American Occupation (1903)

Obverse: figure of a man seated beside an anvil and holding a hammer with

a volcano (Mt. Mayon) erupting in the background, "Five Centavos", "Filipinas"

Reverse: arms of the US Territories, "United States of America", year mark Shape: round

Edge: plain Material: copper Diameter: 17.8mm Weight: 30 grains

Composition: 95% copper, 5% zinc and tin Designer: Melecio Figueroa

The minting of this coin was only until 1904. The small size and value of the coin made it unpopular to the public. Proofs were struck until 1908. I

personally find it weird why they would bother making a coin of this value. The figure of the man in the obverse is an allegory for the hard work being done by the Filipinos in building their own future.

Arms of the US Territories

This is a braodwinged eagle, sitting atop a shield divided into two registers. The upper register has 13 stars, and the lower register has 13 vertical stripes.

(27)

JAPANESE OCCUPATION

The outbreak of World War II

caused serious disturbances

in the Philippine monetary

system. Two kinds of notes

circulated in the country

during this period. The

Japanese Occupation Forces

issued war notes in big

denominations. Provinces and

municipalities, on the other

hand, issued their own

guerrilla notes or resistance

currencies, most of which

were sanctioned by the

Philippine government

in-exile, and partially redeemed

after the war.

(28)

One Thousand Peso banknote

issued in the Philippines

during the Japanese

occupation

As inflation crept in, the

Japanese printed banknotes

in larger denominations. This

bill is the last of the third

series along with the 100 and

500 peso JIM. It was printed

just before their surrender in

1945.

Due to dwindling resources,

this banknote is smaller than

the others and is printed on

cheap paper, the reason why

the blue ink at the front

(29)

JAPANESE PERIOD

Five hundred Peso banknote issued in the

Philippines during the Japanese occupation

One Hundred Peso banknote issued in the

Philippines during the Japanese

(30)

Ten Peso banknote issued in the

Philippines during the Japanese

occupation.

Ten Peso banknote issued in the

Philippines during the Japanese

occupation.

The front features the Rizal

Monument.

(31)

Five Peso banknote issued in the Philippines during the

Japanese occupation. The front features the Rizal

(32)

(33)

Fifty centavo banknote issued in

the Philippines during the

Japanese occupation.

Ten centavo banknote issued

in the Philippines during the

Japanese occupation.

(34)

Five centavo banknote issued

in the Philippines during the

Japanese occupation.

One centavo banknote issued

in the Philippines during the

Japanese occupation

(35)

Five Peso Guerilla Note

Series of 1943

Text reads: "Philippine National

Bank; Emergency Circulating Note

of 1943; Issued by authority if the

President of the Philippines'

"The Philippine National Bank will

pay the bearer on demand FIVE

PESOS in lawful currency of the

Philippines; Iloilo Currency

Committee."

The seal featuring an eagle on top

of the Philippine coat of arms is

stamped with "City of Iloilo; Feb

22, 1943".

The reverse reads "Philippine

National Bank; Iloilo City,

Philippines; Feb. 22, 1943;

Emergency Circulating Note"

(36)

One Peso Guerilla Note

Text reads: "Philippine National

Bank Emergency Circulating Note

of 1941'

"Issued by the Cebu Currency

Committee by authority of the

President of the Philippines of

December 29, 1941. The

Philippine National Bank will pay

to the bearer on demand ONE

PESO'

"One Peso has been deposited in

the treasury of the Philippines for

the redemption of this

(37)

One Peso Emergency

Guerilla Note

Series of 1944

The text reads:

"Issued by authority of the

President of the Philippines. This

certifies that the Commonwealth

of the Philippines will redeem this

certificate at face value upon

termination of emergency."

"Payable to the bearer on

demand in Silver Pesos or in legal

tender currency of the Negros

Emergency Currency Board."

The green seal features an eagle

on top of the Philippine coat of

arms with text, "Commonwealth

of the Philippines" and "United

States of America"

(38)

One Peso emergency

circulating note of 1942

One Peso emergency

circulating note of 1942

with President Manuel

Quezon's bust. Issued by

authority of the President

of the Philippines on

January 20, 1942 by the

Negros Occidental

Provincial Currency

Committee. Printed in the

City of Bacolod January 26,

1942.

(39)

10 Centavo Bohol

Emergency Banknote

(1942 series)

Text

Obverse: The Commonwealth

of the Philippines will Pay to

the bearer on demand 10

Centavos in lawful currency of

the Philippines. Bohol

Emergency Currency Board.

Series of 1942. Actg. Prov.

Treas. - Prov. Auditor - Prov.

Fiscal.

Reverse: Issued by the Bohol

Emergency Currency Board,

Tagbilaran, Bohol, Philippines.

Ten Centavos.

(40)

Five Centavos Mountain

Province Emergency Note

Obverse: Mountain Province

Emergency Note. This Certifies that there has been deposited in the Philippine National Bank the

equivalent of five centavos payable to bearer on demand. N.S. Vergara, Provincial Treasurer. Countersigned June 1943, Mun. Dist. Treasurer (overprint).

Reverse: Five Centavos. Mountain

Province Emergency Note. This note is issued under the authority of the Provincial Board of the Mountain Province during this emergency and is only good and negotiable within said province. Not valid unless signed by the Provincial Governor and Provincial Treasurer and countersigned by the Provincial Auditor and sealed with the official seal of the Mountain Province.

(41)

A nation in command of its destiny is the message reflected in the evolution of Philippine money under the Philippine Republic. Having gained independence from the United States following the end of World War II, the country used as currency old treasury certificates overprinted with the word “Victory”. With the establishment of the Central Bank of the Philippines in 1949, the first currencies issued were the English series notes printed by the Thomas de la Rue & Co., Ltd. in England and the coins minted at the US Bureau of Mint. The Filipinazation of the Republic coins and paper money began in the late 60’s and is carried through to the present. In the 70’s, the Ang Bagong Lipunan (ABL) series notes were circulated, which were printed at the Security Printing Plant starting 1978. A new wave of change swept through the Philippine coinage system with the flora and fauna coins initially issued in 1983. These series featured national heroes and species of flora and fauna. The new design series of banknotes issued in 1985 replaced the ABL series. Ten years later, a new set of coins and notes were issued carrying the logo of the Bangko Sentral ng Pilipinas.

(42)

Five Hundred Peso Banknote

Victory Series

Obverse: Miguel Lopez de Legazpi, seal

of the Philippine-American

Commonwealth

Reverse: "Central Bank of the

Philippines VICTORY" overprint,

seal of the Philippine-American

Commonwealth

Text

By authority of an act of the

Philippine Legislature. Approved

by the President of the United

States June 13, 1922. This certifies

that there has been deposited in

the treasury of the Philippines

Five Hundred Pesos payable to

the bearer on demand; in silver

pesos or in legal tender currency

of the United States of equivalent

value." Victory series no. 66,

(43)

Two Peso Banknote from

the Victory Series

Obverse: Portrait of Jose Rizal,

seal of the Philippine-American

Commonwealth with overprint:

"Manila, Philippines"

Reverse: "Philippines", "2 Pesos"

with "Victory" overprint

Text: "By authority of an act of

the Philippine Legislature,

approved by the President of the

United States June 13, 1922; This

certifies that there has been

deposited in the treasury of the;

Philippines; Two Pesos; Payable to

the bearer on demand; in silver

pesos or in legal tender currency

of the United States of equivalent

value." Victory series no. 66

(44)

One Peso Banknote from

the Victory Series

Obverse: portrait of Apolinario

Mabini, seal of the

Philippine-American Commonwealth with

overprint: "Manila, Philippines"

Reverse: "One Philippine Peso"

with VICTORY overprint

Text reads: "By authority of an act

of the Philippine Legislature,

approved by the President of the

United States June 13, 1922; This

certifies that there has been

deposited in the treasury of the;

Philippines; One Peso; Payable to

the bearer on demand; in silver

pesos or in legal tender currency

of the United States of equivalent

value." Victory series no. 66,

(45)

One Hundred Peso Banknote

1949 English Series

Obverse: Tandang Sora (Melchora

Aquino) and the Central Bank Seal

Reverse: various flags of the

Katipunan

Signatures: Philippine President

Elpidio Quirino and Central Bank

Governor Miguel Cuaderno, Sr.

Text

Obverse: Central Bank of the

Philippines. This note is a liability

of the Central Bank of the

Philippines and is fully guaranteed

by the Government of the

Republic of the Philippines. One

Hundred Pesos. This note is legal

tender in the Philippines for all

debts, public and private. Thomas

De La Rue & Co. Ltd.

(46)

Five Hundred Peso

Banknote

English Series

Obverse: Manuel Roxas and

Central Bank Seal

This note is signed by former

Philippine President Elpidio

Quirino.

Text

Obverse: Central Bank of the

Philippines, This note is a liability

of the Central Bank and fully

guaranteed by the Government of

the Republic of the Philippines.

Five Hundred Pesos. This note is

legal tender in the Philippines for

all debts, public and private.

Thomas De La Rue & Co. Ltd.

Reverse: Five Hundred Pesos.

former Central Bank Building.

(47)

Two Hundred Peso Banknote

English Series

Obverse: Manuel Quezon and the

Central Bank Seal

Reverse: the former Legislative

Building

This banknote is signed by former

president Elpidio Quirino.

Text

Obverse: Central Bank of the

Philippines. This note is a liability

of the Central Bank of the

Philippines and is fully guaranteed

by the Government of the

Republic of the Philippines. Two

Hundred Pesos. This note is legal

tender in the Philippines for all

debts, public and private. Thomas

De La Rue & Co. Ltd.

(48)

Twenty Peso Banknote

English Series

Obverse: Andres Bonifacio and Emilio

Jacinto

Reverse: Cartilla of the Katipunan, Cry of

Balintawak Monument

This note is signed by President Ferdinand Marcos.

Andres Bonifacio was the founding leader of the Katipunan, the Philippine

Revolutionary Movement during the Spanish Era. Emilio Jacinto was his adviser and is regarded as the Brain of the

Katipunan. Emilio Jacinto wrote the Kartilya ng Katipunan. The Cry of Balintawak signaled the start of the revolution.

Text

Obverse: Central Bank of the Philippines.

This note is a liability of the Central Bank and is fully guaranteed by the

Government of the Republic of the Philippines. This note is legal tender in the Philippines for all debts, public and private.

Reverse: Twenty Pesos. Cartilla of the

Katipunan and the Balintawak Monument.

(49)

Five Peso Banknote

English Series

Obverse: Marcelo del Pilar on the left,

and Graciano Lopez Jaena on the right

Reverse: La Solidaridad, "Five Pesos"

This note is signed by President Ramon Magsaysay.

The La Solidaridad which was the principal organ of the Philippine propaganda movement in Spain from February 15, 1889 to November 15, 1895.

Text: "Central Bank of the Philippines;

This note is a liability of the Central Bank and is fully guaranteed by the Government of the Republic of the Philippines". "This note is legal tender in the Philippines for all debts, public and private."

(50)

Half Peso Banknote

English Series - Small Denomination Currency

Text: "Central Bank of the Philippines; This note is a liability of the Central Bank and is fully

guaranteed by the Government of the Republic of the Philippines". "This note is legal tender in the Philippines for all debts, public and private.“ This note is signed by President Carlos Garcia.

Fifty Centavo Banknote

English Series - Small Denomination Currency

Text: "Central Bank of the Philippines; This note is a liability of the Central Bank and is fully guaranteed by the Government of the Republic of the Philippines". "This note is legal tender for all debts, public and private." This note is signed by President Ramon Magsaysay. The reverse shows that the bill was printed by "Thomas de la rue & Company, Limited, London".

(51)

Twenty Centavo Banknote

English Series - Small Denomination Currency (Scrip Notes)

Text: "Central Bank of the Philippines; This note is a liability of the Central Bank and is fully guaranteed by the Government of the Republic of the Philippines". "This note is legal tender for all debts, public and private." This note is signed by President Carlos Garcia. The

reverse shows that the bill was printed by "Thomas de la Rue & Company, Limited, London".

Ten Centavo Banknote

English Series - Small Denomination Currency (Scrip Notes)

Text: "Central Bank of the Philippines; This note is a liability of the Central Bank and is fully guaranteed by the Government of the Republic of the Philippines". "This note is legal tender for all debts, public and private." This note is signed by President Ramon Magsaysay. The reverse shows that the bill was printed by "Waterlow & Sons Limited".

(52)

Five Centavo Banknote

English Series - Small

Denomination Currency

(Scrip Notes)

Text: "Central Bank of the

Philippines; This note is a

liability of the Central Bank

and is fully guaranteed by the

Government of the Republic

of the Philippines". "This note

is legal tender for all debts,

public and private."

This note is signed by

President Ramon Magsaysay.

The reverse shows that the

bill was printed by "Waterlow

& Sons Limited".

(53)

One Hundred Peso Banknote

Pilipino Series

Obverse: Manuel Roxas, former

Central Bank Seal

Reverse: former Central Bank Building Text

Obverse: "Republika ng Pilipinas; Ang

salaping papel na ito ay isang bayarin ng Bangko Sentral at lubos na

pinananagutan ng Pamahalaan ng Republika ng Pilipinas". "Sandaang Piso", "Ang salaping papel na ito ay salaping umiiral sa Pilipinas at pambayad sa lahat ng uri ng pagkakautang."

Reverse: "Bangko Sentral ng Pilipinas"

This peso bill is signed by former president Ferdinand Marcos The Pilipino Series banknotes are essentially the same as the Bagong Lipunan Series. They only lack the "Bagong Lipunan" overprint on the front.

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Fifty Peso Banknote

Pilipino Series

Obverse: Sergio Osmeña, former

Central Bank Seal

Reverse: former Legislative Building,

now National Museum

Text

pinananagutan ng Pamahalaan ng Republika ng Pilipinas". "Limampung Piso", "Ang salaping papel na ito ay salaping umiiral sa Pilipinas at pambayad sa lahat ng uri ng pagkakautang."

Reverse: "Gusaling Batasan"

This peso bill is signed by former president Ferdinand Marcos

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Twenty Peso Banknote

Pilipino Series

Obverse: Manuel Quezon, former

Central Bank Seal

Reverse: Malacañang Palace Text

pinananagutan ng Pamahalaan ng Republika ng Pilipinas".

"Dalawampung Piso", "Ang salaping papel na ito ay salaping umiiral sa Pilipinas at pambayad sa lahat ng uri ng pagkakautang."

Reverse: "Palasyo ng Malacañan"

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Ten Peso Banknote

Pilipino Series

Obverse: Apolinario Mabini, former

Central Bank Seal

Reverse: Barasoain Church Text

pinananagutan ng Pamahalaan ng Republika ng Pilipinas". "Sampung Piso", "Ang salaping papel na ito ay salaping umiiral sa Pilipinas at pambayad sa lahat ng uri ng pagkakautang."

Reverse: "Simbahang Barasoain"

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Five Peso Banknote

Pilipino Series

Obverse: Andres Bonifacio, Central

Bank Seal

Reverse: initiation of Katipunan

members by blood compact

Text

pinananagutan ng Pamahalaan ng Republika ng Pilipinas". "Limang Piso" "Ang salaping papel na ito ay salaping umiiral sa Pilipinas at pambayad sa lahat ng uri ng pagkakautang."

Reverse: "Mga bagong kasapi ng

Katipunan na lumalagda sa mga kasulatan ng KKK sa pamamagitan ng kanilang dugo".

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One Peso Banknote

Pilipino Series

Obverse: Jose Rizal, logo of the

former Central Bank of the

Philippines

Reverse: Declaration of

Independence in Kawit, Cavite on

June 12, 1896 in the reverse.

Text

Front: "Republika ng Pilipinas;

"Ang salaping papel na ito ay

isang bayarin ng Bangko Sentral at

lubos na pinananagutan ng

Pamahalaan ng Republika ng

Pilipinas". "Piso; Ang salaping

papel na ito ay salaping umiiral sa

Pilipinas at pambayad sa lahat ng

uri ng pagkakautang."

Back: "Pahayag ng Kasarinlan ng

Pilipinas noong Hunyo 12, 1898

(Balkonahe ng Mansiyong

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One Hundred Peso Banknote

Bagong Lipunan Series

Obverse: President Manuel Roxas

,

Central Bank Seal

Reverse: Central Bank Complex

beside Manila Bay

Text

Obverse: "Republika ng Pilipinas;

Ang salaping papel na ito ay isang

bayarin ng Bangko Sentral at

lubos na pinananagutan ng

Pamahalaan ng Republika ng

Pilipinas". "Sandaang Piso; Ang

salaping papel na ito ay salaping

umiiral sa Pilipinas at pambayad

sa lahat ng uri ng pagkakautang."

Reverse: "Bangko Sentral ng

Pilipinas"

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Fifty Peso Banknote

Bagong Lipunan Series

Obverse: President Sergio

Osmeña

Reverse: Legislative (now

National Museum) Building

Text

Obverse: "Republika ng Pilipinas;

Ang salaping papel na ito ay isang

bayarin ng Bangko Sentral at

lubos na pinananagutan ng

Pamahalaan ng Republika ng

Pilipinas". "Limampung Piso; Ang

salaping papel na ito ay salaping

umiiral sa Pilipinas at pambayad

sa lahat ng uri ng pagkakautang."

Reverse: "Gusaling Batasan".

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Twenty Peso Banknote

Bagong Lipunan Series

Obverse: President Manuel

Quezon, Central Bank Seal

Reverse: Malacañang Palace

Text

Obverse: "Republika ng Pilipinas;

Ang salaping papel na ito ay isang

bayarin ng Bangko Sentral at

lubos na pinananagutan ng

Pamahalaan ng Republika ng

Pilipinas". "Dalawampung Piso;

Ang salaping papel na ito ay

salaping umiiral sa Pilipinas at

pambayad sa lahat ng uri ng

pagkakautang."

Reverse: "Palasyo ng

Malakanyang".

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Ten Peso banknote

Bagong Lipunan Series

Obverse: Apolinario Mabini

Reverse: Barasoain Church at the

reverse.

Text

Obverse: "Republika ng Pilipinas;

Ang salaping papel na ito ay isang

bayarin ng Bangko Sentral at

lubos na pinananagutan ng

Pamahalaan ng Republika ng

Pilipinas". "Sampung Piso; Ang

salaping papel na ito ay salaping

umiiral sa Pilipinas at pambayad

sa lahat ng uri ng pagkakautang."

Reverse: "Simbahan ng

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Five Peso Banknote

Bagong Lipunan Series

Obverse: Andres Bonifacio,

Central Bank Seal

Reverse: initiation of Katipunan

members by blood compact

Text

Obverse: "Republika ng Pilipinas;

Ang salaping papel na ito ay isang

bayarin ng Bangko Sentral at

lubos na pinananagutan ng

Pamahalaan ng Republika ng

Pilipinas". "Limang Piso; Ang

salaping papel na ito ay salaping

umiiral sa Pilipinas at pambayad

sa lahat ng uri ng pagkakautang."

Reverse: "Mga bagong kasapi ng

Katipunan na lumalagda sa mga

kasulatan ng KKK sa pamamagitan

ng kanilang dugo".

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Two Peso Banknote

Bagong Lipunan Series

Obverse: Jose Rizal(Philippine

national hero), Central Bank Seal

Reverse: Declaration of

Independence in Kawit, Cavite in

June 12, 1898

Text

Obverse: "Republika ng Pilipinas;

Ang salaping papel na ito ay isang

bayarin ng Bangko Sentral at

lubos na pinananagutan ng

Pamahalaan ng Republika ng

Pilipinas". "Dalawang Piso; Ang

salaping papel na ito ay salaping

umiiral sa Pilipinas at pambayad

sa lahat ng uri ng pagkakautang."

Reverse: "Pahayag ng Kasarinlan

ng Pilipinas noong Hunyo 12,

1898 (Balkonahe ng Mansiyong

Aguinaldo)".

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One Thousand Piso Banknote

New Design Series

Obverse: Jose Abad Santos, Josefa Llanes Escoda, Vicente Lim, Eternal flame, Laurel Leaves Cenrtral Bank Seal Reverse: Hagdan-hagdang Palayan ng Banawe, Manunggul jar cover and Langgal hut

Predominant color: Blue

Security thread: 0.75 mm embedded magnetic and metallic; for newer notes, 1.4 mm windowed colorshift (magenta-green) with cleartext “1000” Length: 160mm

Width: 66mm

Thickness: 100-118 microns Material: 20% abaca, 80% cotton

Security Features: security thread, red & blue visible fibers, fluorescent printing, iridescent band, windowed security thread, optically variable ink (OVI), and micro-printing

Text: "Republika ng Pilipinas", "Sanlibong Piso", "Ang salaping ito ay bayarin ng Bangko Sentral at pananagutan ng Republika ng Pilipinas" Jose Abad Santos (Chief Justice), Josefa Llanes Escoda (civic worker and one of the founders of the Girl Scouts of the Philippines), and Vicente Lim (a general in the Philippine Army, first Filipino graduate of West Point) are considered heroes of the resistance against the Japanese

Occupation of the Philippines.

The Manunggul Jar is a National Treasure of the Philippines. The jar was found in Chamber A of the Manunggul caves in Palawan. The jar is dated from about 2800 years before the present day. The faces of the figures and on the prow of the boat have eyes and mouth rendered in the same style as other artifacts of Southeast Asia of that period. Note the depiction of sea-waves on the lid.

Banaue Rice Terraces (Tagalog: Hagdan-hagdang Palayan ng Banaue) are 2000-year old terraces that were carved into the mountains of Ifugao in the Philippines by ancestors of the Batad indigenous people. The Rice Terraces are commonly referred to as the "Eighth Wonder of the World". They are found in the provinces of Apayao, Benguet, Mountain Province and Ifugao, and are a UNESCO World Heritage Site.

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Five Hundred Piso Banknote

New Design Series

Obverse: Benigno S. "Ninoy" Aquino, Jr., Philippine flag, Central Bank seal, dove of peace,

Ninoy's typewriter with his initials ("B.S.A.J."), "Faith in our people and faith in God", "The Filipino is worth dying for", Ninoy's signature

Reverse: scenes from Ninoy Aquino's life and some allegorical groups (see note below) Predominant color: yellow

Security thread: 0.75 mm embedded magnetic and metallic; for newer notes, 1.4 mm

windowed colorshift (magenta-green) with cleartext “500”

Length: 160mm Width: 66mm

Thickness: 100-118 microns Material: 20% abaca, 80% cotton

Security Features: security thread, red & blue visible fibers, fluorescent printing, iridescent band, windowed security thread, concealed numerical value, and micro-printing

Text: "Republika ng Pilipinas", "Limandaang Piso", "Ang salaping ito ay bayarin ng Bangko

Sentral at pananagutan ng Republika ng Pilipinas"

The reverse side features a collage of various images in relation to Aquino. He was (out of some of the pictures) a journalist for the Manila Times, a senator (the pioneer of the Study Now, Pay Later education program), the mayor in his hometown of Concepcion, the governor of Tarlac, and was the main driving force behind the People Power Revolution of 1986, some three years after his death in 1983.

It is also interesting to note that unlike the names of the figures on the bills, "Benigno S. Aquino, Jr." is written in gold-coloured, cursive writing with a green laurel wreath as opposed to the name being simply written as with the other banknotes.

Before this note was printed, 500-piso banknote was to have Ferdinand Marcos and its back was the Batasang Pambansa Complex until People Power Revolution when it was replaced by the current 500-piso banknote. Remnants of this version of the banknote are only for media purposes.

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Two Hundred Piso

Commemorative Banknote

New Design Series

Obverse: Diosdado P. Macapagal, Aguinaldo Shrine in Kawit, Kavite

Reverse: scene from EDSA II, with Gloria Macapagal-Arroyo being sworn in as president by Chief Justice Hilario Davide Jr. in

January 2001

Predominant color: Green

Security thread: 0.75 mm embedded magnetic and metallic/1.4 mm windowed colorshift (magenta-green) with cleartext “200” Length: 160mm

Width: 66mm

Security Features: security thread, red & blue visible fibers, fluorescent printing, iridescent band, windowed security thread, micro-printing, 0.75 mm embedded magnetic and metallic/1.4 mm windowed colorshift (magenta-green) with cleartext “200”, and perfect see-through register

Text: Republika ng Pilipinas, Ang Salaping ito ay bayarin ng Bangko Sentral at pananagutan ng Republika ng Pilipinas.

Dalawandaang Libong Piso

This banknote is signed by Gloria Macapagal Arroyo and Rafael Buenaventura. The little girl holding a Bible in between Arroyo and Davide at the reverse of the note is Cecilia Paz Razon Abad, daughter of former Philippine Education Secretary Florencio Abad and Batanes Representative Henedina Razon-Abad.

The bill was subject of criticisms by the opposition. They said that the legal tender should only feature deceased national heroes and not an incumbent President. It wasn't the first time that a legal tender featured a sitting President. Legal tender coinage was minted to commemorate the inauguration of Manuel L. Quezon as President of the Philippines in 1935. Emergency currency during World War II had many instances where provincial emergency currency boards placed the image of then President Manuel L. Quezon. In 1975, Bangko Sentral ng Pilipinas released a 5-Piso coin featuring the face of then President Ferdinand Marcos. Former Presidents Fidel Ramos and Joseph Estrada was also pictured in a limited commemorative 2000-Piso bill that honors the 100-year celebration of Philippine Independence. Also a limited commemorative gold 1000-Piso bill with the picture of former President Joseph Estrada was also issued to honor the 100-year celebration of Philippine Independence.

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One Hundered Piso Banknote

New Design Series

• Obverse: Manuel A. Roxas, raising of the Philippine flag

and lowering of the American flag during the declaration of Independence in July 4, 1946, Central Bank Seal

• Reverse: Central Bank Complex along Roxas Boulevard with

an inset image of the former Central Bank Building •

Predominant color: Violet

Security thread: 0.75 mm embedded magnetic and

metallic; for newer banknotes, 1.4 mm windowed colorshift (magenta-green) with cleartext “100”

Length: 160mm Width: 66mm

• Security Features: security thread, red & blue visible

fibers, fluorescent printing, iridescent band, windowed security thread, and micro-printing

•

• Text: "Republika ng Pilipinas", "Sandaang Piso", "Ang

salaping ito ay bayarin ng Bangko Sentral at pananagutan ng Republika ng Pilipinas"

The 100-piso banknote became subject of controversy after banknotes printed in France in time for the Christmas season were printed with the President's name misspelled, the first in Philippine history. The banknotes, of which a small amount are in circulation and are still legal tender, spelled the President's name as "Gloria Macapagal-Arrovo" than the correct Gloria Macapagal-Arroyo.

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Fifty Piso Banknote

New Design Series

• Obverse: Sergio Osmeña, Fuente Osmeña (Osmeña Fountain),

gavel, Central Bank Seal

• Reverse: National Museum "Pambansang Museo" (formerly

Legislative Building) •

Predominant color: Red

Security thread: 0.75 mm embedded and metallic

• Length: 160mm Width: 66mm

Thickness: 100-118 microns Material: 10% linen, 90% cotton

Security Features: security thread, red & blue visible fibers,

fluorescent printing, iridiscent band, windowed security thread, and microprinting

•

• Text: "Republika ng Pilipinas", "Limampung Piso", "Ang salaping ito

ay bayarin ng Bangko Sentral at pananagutan ng Republika ng Pilipinas"

Sergio Osmeña was the second president of the Commonwealth of the Philippines. He served as president from 1944, after Quezon's death, to 1946, when the United States granted the Philippines' independence.

The National Museum featured on the reverse side of the banknote, used to be the Legislative Building, where the House of

Representatives that Osmena presided over as Speaker from 1907-1922 was located. The building was then renamed Executive House during the Martial Law period and was labeled as such in the fifty-piso banknote until recently.

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Twenty Piso Banknote

New Design Series

• Obverse: Manuel Quezon, Coat-of-arms of the Commonwealth,

Wikang Pambansa, Saligang Batas 1935, Central Bank Seal • Reverse: Malacañan Palace beside the Pasig River "Palasyo ng

Malakanyang"

Predominant color: Orange

• Security thread: 0.75 mm embedded broken gold colored plastic Length: 160mm

Width: 66mm

Thickness: 100-118 microns Material: 10% linen, 90% cotton

• Security Features: security thread, red & blue visible fibers,

fluorescent printing

•

Text: "Republika ng Pilipinas", "Dalawampung Piso", "Ang salaping

ito ay bayarin ng Bangko Sentral at pananagutan ng Republika ng Pilipinas"

Manuel L. Quezon was the first president of the Commonwealth of the Philippines. At the right side of the banknote are the coat-of-arms of the Commonwealth, and two of Quezon's notable

accomplishments. The first is Wikang Pambansa, which is Tagalog for "national language". In 1937, the National Language Institute was founded to establish a single national language for the

Philippines. This eventually became the Filipino language, which is largely based on Tagalog. The second was the Saligang Batas 1935 or the 1935 Constitution of the Philippines. This was the first real constitution that was nationally effected and large parts of it survive in the current constitution.

The Malacañan Palace at the reverse is, more popularly known as Malacañang Palace, the residence of the President of the

Philippines, along the banks of the Pasig River. Quezon was the first Philippine president to live in the Palace.

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Ten Piso Banknote

New Design Series

• Obverse: Apolinario Mabini (left) and Andres Bonifacio (right), KKK

flag, Kartilya ng Katipunan, a letter written by Mabini • Reverse: Barasoain Church "Simbahan ng Barasoain" (left),

initiation rites of the Katipunan "Mga bagong kasapi ng Katipunan

na lumalagda sa mga kasulatan ng KKK sa pamamagitan ng kanilang dugo" (right)

Predominant color: Brown

• Security thread: 0.75 mm embedded broken gold colored plastic Length: 160mm

Width: 66mm

Thickness: 100-118 microns

Material: 10% linen, 90% cotton

• Security Features: security thread, red & blue visible fibers

• Text: "Republika ng Pilipinas", "Sampung Piso", "Ang salaping ito ay

bayarin ng Bangko Sentral at pananagutan ng Republika ng Pilipinas"

Andres Bonifacio was the founder of the Katipunan, a secret society established to fight the Spanish colonial government. Mabini was the Philippines first Prime Minister and Secretary of Foreign Affairs even though he was a cripple. Because of this, he was often called "The Sublime Paralytic".

The Barasoain Church in Malolos, Bulacan is the site of the first Philippine Congress where the Malolos Constitution was drafted. In the initiation rites of the Katipunan, members accepted into the society had to sign their name on the society's roster using their own blood.

The 10-piso banknote was issued months after the 5-piso banknote was issued. Before 1998, the 10-piso banknote only depicted

Mabini and the Barasoain Church. In recent years, the new banknote has been replaced with a 10-piso coin also bearing the effigies of Bonifacio and Mabini.

The Bangko Sentral ng Pilipinas has stopped printing this banknote. However, existing banknotes remain legal tender.

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Current Legal Tender Philippine

Banknotes

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Current Legal Tender Philippine

Banknotes

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Fifty Centavos Commemorative Coin, 1936-M

Establishment of the Commonwealth

Obverse: Facing busts of incoming Philippine

President Manuel Quezon and outgoing

Governor-General Frank Murphy, "Commonwealth of the

Philippines", "Fifty Centavos"

Reverse: arms of the Philippine-American

Commonwealth, "United States of America", year

mark (1936)

Material: silver

Shape: round

Mintage: 20,000

This coin is one of three that commemorate the

transition from protectorate to commonwealth which

occured on November 15, 1935.

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Twenty Centavo Coin

Philippine-American Commonwealth (1944)

Obverse: Lady Liberty striking an anvil with a hammer with a volcano

(Mt. Mayon) erupting in the background,"Fifty Centavos", "Filipinas"

Reverse: arms of the Philippine American Commonwealth, "United

States of America", year mark

Shape: round Edge: reeded Diameter: 20.5mm Material: silver

The figure of Lady Liberty striking the anvil with a hammer is supposed to depict the work done by the Americans in creating a progressive Philippines. Many suspect that the lady in the figure is actually Blanca, the daughter of the designer.

Arms of the Commonwealth

When the Philippines became a US Commonwealth, the arms of the Commonwealth were adopted in the reverse of the coins. Compared to the arms of the US Territories, this seal is composed of a much smaller eagle with its wings pointed up, perched over a shield with peaked corners, above a scroll reading "Commonwealth of the Philippines". It is a much busier pattern, and widely considered less attractive.

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Ten Centavo Coin

Philippine-American Commonwealth (1945)

(Mt. Mayon) erupting in the background, "Ten Centavos", "Filipinas"

Reverse: arms of the Philippine-American Commonwealth, "United

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Five Centavo Coin

Philippine-American Commonwealth (1945)

Obverse: figure of a man seated beside an anvil and holding a

hammer with a volcano (Mt. Mayon) erupting in the background, "Five Centavos", "Filipinas"

Shape: round Edge: plain

Diameter: 18.5mm Material: nickel

The 1/2 centavo, 1 centavo, and 5 centavo coins of the American Series show a Filipino man kneeling against an anvil, with a hammer resting at his side. He is on the left side (foreground), while in the right side (background) there is a simmering volcano, Mt. Mayon. This figure is an allegory for the hard work being done by the Filipinos in building their own future.

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One Centavo Coin

Philippine-American Commonwealth (1944)

Obverse: figure of a man seated beside an anvil and holding a hammer

with a volcano (Mt. Mayon) erupting in the background, "One Centavo", "Filipinas"

Shape: round Edge: plain

Diameter: 24.5mm Material: copper

The 1/2 centavo, 1 centavo, and 5 centavo coins of the American Series show a Filipino man kneeling against an anvil, with a hammer resting at his side. He is on the left side (foreground), while in the right side

(background) there is a simmering volcano, Mt. Mayon. This figure is an allegory for the hard work being done by the Filipinos in building their own future.

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Fifty Centavo Coin

English Series (1964)

Obverse: Lady Liberty striking an anvil with a hammer with a

volcano (Mt. Mayon) erupting in the background,"Fifty

Centavos", year mark

Reverse: seal of the Republic of the Philippines, "Central Bank

of the Philippines"

Shape: round

Edge: reeded

Diameter: 30mm

Designer: Melecio Figueroa

The obverse design is adpoted from the earlier coins issued

during the American Occupation. The figure of Lady Liberty

striking the anvil with a hammer is supposed to depict the

work done by the Americans in creating a progressive

Philippines. Many suspect that the lady in the figure is actually

Blanca, the daughter of the designer.

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One Peso Coin

Pilipino Series (1967-1974

)

Obverse: Jose Rizal, "Piso",

"1"

Reverse: seal of the

Republic of the Philippines,

"Bangko Sentral", year

mark

Shape: round

Edge: reeded

Diameter: 33 mm

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Fifty Centavo Coin

Pilippine-American Commonwealth (1944)

(Mt. Mayon) erupting in the background, "Fifty Centavos", "Filipinas"

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