Philippines coins and banknotes

[Doc Alan]

• Today we can expect around 73 Philippine pesos to 1 GBP, or 45 pesos to 1 US $.


• The historical exchange rate is very different ! Both Spain and the United States struck coins for the Philippines for many years – to 1898 ( Spain ) and long after independence in 1946 ( United States ). Increasingly from the 1970s the Philippine Mint ( Bangko Central Pilipinas / BSP ) produced Philippines coinage.


• Until the late 1960s there were 100 centavos, and thereafter 100 sentimos, to 1 peso.


• Until the beginning of the 1960s there were around 2 pesos to 1 US $. Thereafter President Macapagal allowed the peso to float on the free currency market, and its value sank in that decade to around 6 / US $.


• After Ninoy Aquino’s assassination in 1983 the value of the peso dived to 20 / 1 US $ in a few years, and to 27 / 1 by the turn of the decade. By 2000 it had fallen to 40 / 1 US $, and then to over 50 / 1. From 2005 it strengthened overall in value.


• The size and composition of these coins reflects their value – 50 centavos from 50 years ago ( partly silver ), through 1 peso over 40 years ago, to 5 years ago. The obverse of the 1964 coin shows “ Liberty “, a standing female figure striking an anvil with a hammer, with Mount Mayon in the background. Jose Rizal features on the other two coins, and many more.





• From the late 1960s Tagalog was used on coins, which featured various Philippine national heroes.


• In 1975 a new series of coins were introduced to mark “ Ang Bagong Lipunan “ ( President Marcos’s New Society ). Such proof sets were the first to be minted since 1908. They were provided by a number of mints, including the UK Royal Mint, and the US Franklin Mint :-

[Doc Alan]

• After 8 years, there was a new “ Flora and Fauna “ series, produced by the UK Royal Mint :-











• Finally in 1995 the “ new BSP “ ( Bangko Central Pilipinas ) series was introduced, which remains the current coinage of the Philippines.


http://mpgonz.blogspot.co.uk/2009/01...0-to-2009.html


http://en.wikipedia.org/wiki/Coins_o...hilippine_peso

[Doc Alan]

• 1000 pesos are today worth around 22 US $ / 14 GBP.


• This current banknote shows Jose Abad Santos ( past Chief Justice of Supreme Court and briefly Acting President during WW II ), Josefa Llanes Escoda ( advocate of women’s right of suffrage and founder of Girl Scouts of Philippines ), and Vicente Lim ( Filipino Brigadier General and WW II hero ) :-





• The reverse shows Tubbataha reef ( Unesco World Heritage Site in the Sulu Sea ) :-

[Doc Alan]

• Seventy years ago the “ Victory “ banknote series were printed in the US ( the last Philippine currency to be printed there ). The notes were to be used upon the return of MacArthur – when he came ashore in Leyte on October 20th 1944 he was allegedly carrying some of these in his pocket. The number “ 66 “ for the series may have been chosen because that was President Quezon’s age when he died just before liberation of the Philippines.


• The 1 peso note showed Apolinario Mabini ( born 150 years ago, who despite paralysis in both legs from polio was an inspiration to Filipinos to fight for independence from the Spanish ). Over 60 million were produced, some of which have survived to this day, like this one in my possession :-








• The 2 pesos note showed Jose Rizal, with over 16 million produced.





• Other notes included 5 pesos ( McKinley and Dewey ), 10 pesos ( Washington ), 20 pesos ( Mount Mayon ), 50 pesos ( Gen Lawton ), 500 pesos ( Legaspi ), and 100 pesos ( Magellan, about 850,000 produced ).






• The Victory currency notes were no longer regarded as legal tender from 1958, and were completely “ demonetized “ within 10 years later.


• Read more here about Philippines currency during WW II :-
http://www.guerrilla-money.com/


… and Philippines Presidents :-
http://en.wikipedia.org/wiki/List_of...he_Philippines

[malolos]

My wife has a good selection of old Philippines coins and banknotes.

[SimonH]

Interesting read, thanks Doc
One thing I don't understand is why the Peso is printed Piso on the coins but Peso on the notes

[fred]

I knew a mini cab driver that used to collect the old two Peso coins and then dished them out to drunks as 50p coins in their change!

[Doc Alan]

Thanks for your interest and responses .

A small technical matter - it proved impossible to obtain good photographs of these notes and coins, due to dimensions and reflections . The proof coins are also enclosed in protective transparent covers.

I tried scanning them - problem solved, with the results you see above .

[Doc Alan]

Interesting read, thanks Doc
One thing I don't understand is why the Peso is printed Piso on the coins but Peso on the notes

" Piso " has appeared on coins and banknotes since the late 1960s, as far as I know, but the " Philippine peso " is still referred to in currency exchange rates.

http://www.philippinecountry.com/philippine_money/

[Dedworth]

Very interesting - I'll have to read more of the links Doc

I wonder if the PI actually mint their own coinage nowadays or import. In a previous life I visited the Royal Mint in Wales a few times. Very interesting place guarded (then) by Ministry of Defence Police. A lot of their production goes for export. I recall being told that there are often former employees residing in HM Prison Cardiff - attempting to throw packs of coins over the fence etc

[Doc Alan]

I wonder if the PI actually mint their own coinage nowadays or import.

Thank you Dedworth .


To my knowledge, since the “ Ang Bagong Lipunan “ series of 1975, for which a variety of mints produced the coins, the Bangko Sentral Pilipinas ( BSP ) has produced nearly all Philippine coinage.


The Mint & Refinery Operations Department of BSP produces all coins now, while the “ SPC “ ( Security Plant Complex ) produces banknotes.

See :- http://www.bsp.gov.ph/bspnotes/banknotes_coin.asp

[Arthur Little]

Thank you for sharing a most interesting - and historically noteworthy - thread, Alan ... if I may "coin a phrase"!

[Doc Alan]

Thank you for sharing a most interesting - and historically noteworthy - thread, Alan ... if I may "coin a phrase"!

It’s surely worthwhile taking note of the " bills " and coins we use in the Philippines, considering how much interest money and peso exchange rate attracts on the Forum .

If ever we had to take a " Life in the Philippines " test this might be helpful !

[Arthur Little]

It’s surely worthwhile taking note of the " bills " and coins we use in the Philippines, considering how much interest money and peso exchange rate attracts on the Forum .

If ever we had to take a " Life in the Philippines " test this might be helpful !

Oh yes, indeed ... on BOTH counts.

[Doc Alan]

Quiz question :- Who was Mabini ( featured on 1 peso Victory note ) ?

If you’re interested, read the link …

http://www.rappler.com/newsbreak/iq/...linario-mabini

[Ako Si Jamie]

I've been to Mabini in Negros although I've never heard of anyone of that name but then again I haven't delved deeply into Philippine History. I believe Valenzuela is named after a member of the Katipunan. Maybe Mabini was another. He's not a former president that's for sure.

[raynaputi]

I've had all those coins in the past!

[Doc Alan]

It’s 44 years today ( November 20 ) since the first visit of a pope to the Philippines. Blessed Paul VI – the first to fly ( surely a miracle ) - survived an attack by a knife-wielding man on his arrival at the "old " Manila International Airport. Last month he was beatified ( blessed ) following the birth of a healthy boy – despite predictions he would suffer serious birth defects – to a mother who had prayed to Pope Paul. This pope led the Church for 15 years, and his most controversial encyclical was “ Humanae Vitae “ ( restating the traditional ban on contraception ).


A commemorative silver coin ( 39 mm diameter ) bears the lettering " Pagdalaw ( visit ) ng Papa sa Pilipinas / Papa Paulo VI ", and on the obverse " Pangulo ( President ) ng Pilipinas / Ferdinand E. Marcos “. It’s " demonetized " ( not legal tender ) and worth much more than 1 " piso ".









The second Pope to visit the Philippines, Pope St John Paul II, actually visited twice - in 1981 ; and in 1995, attracting about 5 million people.



The third will be Pope Francis, expected to visit between 15 – 19 January 2015. He is scheduled to celebrate at least three public Masses – at the Manila Cathedral, the Luneta national park, and in Tacloban City.


Support for the Responsible Parenthood and Reproductive Health Act of 2012 - expanding public access to family planning and reproductive health services, and reducing maternal mortality - might be helpful.

Security will need to be tight - up to 6 million people may attend Mass in Luneta.

Let’s hope his visit is safe, beneficial to Filipinos, and successful .

[Doc Alan]

Around 2.4 million of these 90 year old Treasury Certificates were issued ( and over 12 million similar ones ). The Act of the Philippines Legislature was approved by the US President Calvin Coolidge and certified that 1 peso was " payable to the bearer on demand in silver or gold coin of the US of equivalent value. " It was signed by the Acting Treasurer Salv. Lagdameo, and the Governor General, Leonard Wood.








Leonard Wood was a doctor who served as Chief of Staff of the US Army, before becoming Governor General of the Philippines in 1921 ( after failing as a candidate for the Republican Presidential nomination in 1920 ). He had a medical history – the neurosurgeon Harvey Cushing removed a brain tumour in 1910, which eventually recurred and killed Wood in 1927, aged 66. There is a Leonard Wood Road in Baguio.



During the Japanese occupation of the Philippines ( 1942 – 1945 ) , hard currency was confiscated and millions of Japanese Government notes ( " Mickey Mouse Money " to Filipinos ) were issued. After the overthrow of the Japanese, tons of them were burned.




Emergency circulating notes were also printed by the Philippines Commonwealth Government in exile – " guerrilla pesos ", using crude inks and materials. These were outlawed by the Japanese, who declared a monopoly on the issuance of money. Anyone found in possession of them was arrested or executed.

This note was issued in the Mountain Province – one of possibly 200,000 ( the Japanese destroyed records ).








After WW II and full independence in 1946, this note was issued in 1949, signed by 6th President Elpidio Quirino, and equivalent to US $ 100.










• Present day value of these banknotes ? Priceless – I won’t ever sell them !

[Doc Alan]

The United States struck coins for the Philippines from 1903 – 1945.

This 1905 P 1 was 90% silver ( plus copper ) :-





The obverse shows " Liberty " in the act of striking an anvil with a hammer – symbolic of work done by the Americans to build a better Philippines ; and the reverse the arms of the US Territories in the form of an eagle.


Five silver coins were promised to the bearer of this silver certificate from 1910, featuring President William McKinley ( who had been assassinated in 1901 ) :-





and 100 for this certificate from 1912 :-




During World War I the Philippine National Bank issued emergency notes printed on cardboard paper, as in this 20 centavos note of 1917 :-








Emilio Aguinaldo – First President of the Philippines – who had joined the " Katipunan " and led Philippine forces against Spain , then the United States – was born in 1869 in Cavite Province. He had declared Philippines independence from Spain on 12 June 1898. He lived to the age of 94. This commemorative silver coin was issued in 1969 :-





Aguinaldo ran for Philippines Presidency in 1935, but lost by a landslide to Manuel Quezon, second President, shown here in this P 20 banknote from the Marcos era ( 1967 ) :-

[Steve.r]

Not sure how I missed this thread, very interesting. Thanks Alan

[Doc Alan]

Thank you Steve.r .

Apart from the dangers of using genuine emergency notes, it was quite easy to produce fakes / counterfeit notes. These from Negros and Mindanao may be genuine :








… while this from Iloilo may be counterfeit :





Bataan Day - April 9 1942 – is commemorated as " Araw ng Kagitinan " ( Day of Valor ), to mark the final surrender of the U.S.-Philippines forces on the Bataan Peninsula, then Corregidor in May. Most of the prisoners of war captured by the Japanese had to undertake the " Bataan Death March " to a prison camp over 100 kilometres to the north – many did not survive.


100,000 of these silver P 1 coins were issued 25 years later :







General Douglas MacArthur fulfilled his promise to return to the Philippines, landing with his troops on Leyte in October 1944. Japan formally surrendered in September 1945.


This silver 50 centavos coin is from 1945 :






… and this commemorative 50 centavos coin from 1947 ( the Philippines were independent from July 1946 ) :

[Doc Alan]

With the establishment of the Central Bank of the Philippines in 1949, the first currencies issued were
the " English series notes " printed by Thomas de la Rue in London, UK.


• This 1949 P 500 banknote was part of the first series issued by the Bangko Sentral ng Pilipinas, signed by President Elpidio Quirino, featuring Manuel Roxas ( President 1946 -48 ), and equivalent to U.S. $ 250.





• This 1967 P 2 banknote is signed by President Marcos, and features Jose Rizal ( 1861 – 96 ), national hero, executed by the Spanish in what is now known as Rizal Park.





The reverse shows Emilio Aguinaldo displaying the Philippine flag from the balcony of his house in Cavite, proclaiming independence from Spain, in 1898.





• This P 10 banknote ( late 1960s ) features first Prime Minister ( 1899 ) Apolinario Mabini, who had been paralysed by polio.





The reverse shows the Barasoain Church in Malolos, Bulacan, site of the First Philippine Congress and drafting of the Malolos Constitution ( 1898 ), and the inauguration of the First Philippine Republic ( 1899 ).






• This P 100 banknote has the watermark area overprinted with " Ang Bagong Lipunan " ( New Society ) from 1973. All unissued banknotes had been sent back to the De La Rue plant in London for overprinting.





The reverse shows the Bangko Sentral ng Pilipinas in Manila.

[Doc Alan]

From 1978, banknotes were printed for Bangko Sentral ng Pilipinas at the Security Printing Complex in Quezon City.

( Left click on images to enlarge )


• This P 50 banknote from 1978 features Sergio Osmena ( President 1944 – 1946 ), overprinted for the centenary of his birth in 1878, also with " Ang Bagong Lipunan ".







The reverse shows Gusaling Batasan ( Legislative Building ), now the National Museum, next to Rizal Park.







*** The following banknotes are part of the so-called " New Design Series ", and will be DEMONETIZED from January 1 - December 31 2015. They may STILL be used in 2015 but NO longer accepted for payment from January 1 2016. ***



• This P 500 banknote ( 2009 ) is signed by President Gloria Macapagal-Arroyo and features Benigno " Ninoy " Aquino ( assassinated in 1983 ) with two of his popular quotes : - " Faith in our people and faith in God ", and " The Filipino is worth dying for ". There is also his signature, his typewriter ( initials B.S.A.J. ) and a dove of peace.






• This P 1000 banknote, signed by President Gloria Macapagal-Arroyo, features three heroes of the resistance against the Japanese occupation of the Philippines - Jose Abad Santos ( Chief Justice ); Josefa Llanes Escoda ( founder of Girl Scouts ) ; and Vicente Lim ( Brigadier General ).





The reverse shows the Banaue Rice Terraces ; Manunggul Jar ( a burial jar dating from 890 – 710 B.C. excavated in a Palawan cave over 50 years ago ); and Langgal ( Muslim place of worship in the Sulu Archipelago ).





• This P 500 is signed by the incumbent President Benigno " Noynoy " Aquino, and features his late mother, Corazon Aquino ( President 1986 – 1992 ) and father.





The reverse shows the Puerto Princesa Underground River ( recognised as one of the " new Seven Wonders of Nature " in 2012 ) and a blue-naped parrot ( Philippine green parrot / " pikoy " ; found throughout the Philippines; there is concern about illegal trading on Palawan ).






http://www.bsp.gov.ph/bspnotes/curr_ngc_banknote.asp


http://www.bsp.gov.ph/downloads/Publ...Qs/BS10_a2.pdf

[Doc Alan]

More " New Design Series " banknotes which are to be demonetized :-

( As before, left click on images to enlarge ).


• Reverse of the Ninoy Aquino P 500 banknote - featuring a complicated vignette to illustrate Ninoy’s aspirations of Philippine unity, with ( top left ) Filipinos of different faiths and classes of society ( civilian and military ) ; ( centre ) mother and son giving flowers to two soldiers ; ( bottom left ) part of an article from Ninoy’s years as a journalist covering the Korean War ; ( top right ) a girl holding a book with the words " Study Now Pay Later " – an education bill sponsored by Ninoy ; ( bottom right ) Concepcion Municipal Hall and Tarlac Capitol Building where Ninoy held office of Mayor and Governor ; and ( top right ) a dove, symbolic of freedom.





• P 200 banknote – first issued in 2002, featuring former President Diosdado Macapagal ( 1961 – 1965 ). On the right is the Aguinaldo mansion where in 1898 Aguinaldo proclaimed independence from Spain.






• P 200 banknote, reverse – showing former President Gloria Macapagal-Arroyo ( 2001 – 2010 ) under oath in conclusion to the " EDSA 2 revolution ". She is being sworn in by Chief Justice Hilario Davide, and the girl holding the bible is Cecilia Abad ( daughter of former Education Secretary and Batanes Representative ).





The above banknotes are already not commonly seen in circulation.

More of the " New Generation Currency " banknotes :-


* The P 20 banknote features former President Manuel Quezon ( 1935 – 1944 ) and Malacanan Palace.





The reverse of the P 20 banknote shows the Banaue Rice Terraces in the Cordillera Mountains, and the palm civet ( also from the Cordillera Region, famous for producing a variety of coffee ).





* The P 50 banknote features former President Sergio Osmena ( 1944 – 1946 ), and the October 1944 Leyte landing of MacArthur with the U S troops.






The reverse of the P 50 banknote shows Taal Lake in Batangas ( deepest freshwater lake in Philippines ) , and a fish ( giant trevally ) locally known as Maliputo.







* This P 100 banknote features former President Manuel Roxas ( 1946 – 1948 ), with a vignette of the July 4 1946 Inauguration of the Philippines Republic.





The reverse of the P 100 banknote features the Mayon Volcano in Bicol region ; with a whale shark / butanding ( Rhincodon Typus ), a main attraction in Donsol, Sorsogon.





The BSP has taken the opportunity to enhance security features in the New Generation Currency, including hygienic treatment to prevent growth of harmful " bugs ".

[Doc Alan]

This is the " New Generation Currency " P 200 banknote, featuring former President Diosdado Macapagal ( 1961 – 1965 ), and on the reverse the Chocolate Hills of Bohol and tarsier, with handcrafted lacework of the Visayas.

[Anne2014]

Was a victim of fake P200 bill a couple of years ago. It was given as a change from a Watson's cashier in General Santos City. I didn't get the money back since the fake money was spotted by a cashier in another mall and confiscated it. That was so embarrassing. I have to go back to SM to file a complain to their customer service along with the receipt I paid for at Watsons. They only made me fill out a piece of paper with the complain and that's it.

[SimonH]

First time I've read this

The earlier notes appear to be based on the US Dollar for the large denominations and the British Shilling for the smaller ones.

[Doc Alan]

Since independence in 1946 there have been four series of banknotes issued by Bangko Sentral ng Pilipinas – formerly known as Central Bank of the Philippines.


• The first was the " English Series ", dating from 1951 and printed by Thomas De La Rue in London.


These examples were signed either by Presidents Quirino ( 1948 – 1953 ) or Macapagal ( 1961 – 1965 ) :-








• The second was the " Filipino Series ", dating from 1969.

These examples are all signed by President Marcos ( 1965 – 1986 ) ; from 1973 they were overprinted by the De La Rue plant with " Ang Bagong Lipunan " ( New Society ) :-








• The third was the " New Design Series ", dating from 1985.

These are the " old " banknotes, to be fully demonetized on January 1 2017. The public may continue to use them up to December 31 this year ( 2015 ). For 2016 they may be exchanged at banks for the " New Generation Currency " series.


While these notes will have no purchasing value after this year, good ( uncirculated ) examples are already worth more than face value to collectors, especially the P 500 " Ninoy Aquino " note.

These examples are signed by Presidents Corazon Aquino ( 1986 – 1992 ), Ramos ( 1992 – 1998 ), Macapagal-Arroyo ( 2001 – 2010 ), and Benigno Aquino ( 2010 to date ) :-

















• The fourth is the " New Generation Currency " Series, dating from 2010, in use now and to be used exclusively from 2016 :-

[Doc Alan]

• From the introduction of the " English Series " in the 1950s the rate of the peso against the US $ was 2 : 1 ; and as the rate of the $ to UK £ was 2.8 : 1 ; there were less than 6 pesos : £ 1.


• By the time the " Filipino Series " were introduced at the end of the 1960s, the peso : $ rate was 4 ; the $ : £ 2.4 ; or about 10 pesos : £ 1.


• By the mid – 1980s, when the " New Design Series " were introduced, the peso : $ was 25 : 1 ; the $ : £ was soon to rise to about 2 : 1 ; so there were around 50 pesos : £1 ( with variations ).


• When the " New Generation Currency " was introduced in 2010, pesos : $ were around 50 : 1 ; the $ : £ was 1.6 : 1 ; so there were around 80 pesos : £ 1.


• Of course these rates are not necessarily the exact exchange rates available when making purchases – but hopefully they may be of interest, just as the scanned images of my own banknotes in this thread .


• They also include a practical reminder of the " New Design Series " which are soon to be demonetized. Thank you for viewing my thread !


• http://www.miketodd.net/encyc/dollhist-graph.htm


• http://mpgonz.blogspot.co.uk/2009/01...0-to-2009.html