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Philippine Numismatic Histry

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Joannah Andalis

on 3 September 2014

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Transcript of Philippine Numismatic Histry

Early Philippine Coins
Design of The
New Philippine Banknotes

Currency During
The American Occupation

Image by Tom Mooring
Philippine Numismatic History
Currency of The
First Philippine

Currency of
The Philippine Republic of 1946
Currency During
The Japanese Occupation

Currency of
The Commonwealth Era


exchange of one’s goods with
another person’s goods
Objects as
Media of Exchange

sea shells, gold dust, fiber cloth,
betel nuts, coconuts, beads & pearls
Trading in Gold
began between 8th to the 14th centuries
Gold Ornaments & Barter Rings
spefically used when trading
with the Arabs & the Chinese
Coin in the form of button-shaped gold nugget
Named after sugar receptacles they resembled called “pilon”
Inscription "ma" for MA-I
Currency During
The Spanish Occupation

First European coins brought by the Spaniards in 1521.
First silver coin ever seethe natives.
Macuquinas or the Cobs
Earliest coins brought to Philippines from Mexico.
Irregular, oddly-shaped coins stamped with cross on one side and a royal coat of arms of the other.
Circulated from 1587 to 1768
Spanish Colonization - Galeon Trade
Dos Mundos or Columnarias
1732 - King Phillip the fifth of Spain
First rounded machine struck coins with milled edges.
One of the most beautiful coin designs ever produced.
1772 - King Carlos the third of Spain
Changed the design of the Dos Mundos with his bust portrait. Thus, becoming the traditional design for succeeding rulers.
Coin Shortage
Great dependence of Philippines on Mexico for currency.
Philippines lacked coins of lower denomination or loose change.
Castle with a crown on top & the legend “Ciudad de Manila 1766” on the side. The reverse bore a crowded shield and a monogram.
Incorporated to the Tagalog word Barya (loose change/minor coins).
Circulated till 1836.
influence Filipinos
to fight for independence
out the coins' origin
"Manila" &
Date Below
1810 -
from Mexico, Peru, Chile, Bolivia and Argentina all colonies which had either gained or were still fighting for independence

1832 Counterstamp
small circular depression within which was a crown of pearls and the initials “F 7” for King Ferdinand the Seventh.
Changed into “y 2” for Queen Isabel the Second who succeeded the throne in 1834.
Counterstamping Stopped
Spain recognized her former colonies as independent state
Pesos Fuertes
El Banco Espanol Filipino de Isabel Dos
Five, ten, twenty five, fifty and one hundred pesos Fuertes were issued measuring four by six.
Worded in Spanish and carried the portrait of the Queen.
Issued until 1896
Casa Moneda de Manila (1861)
One, two and four peso gold coins bearing Queens bust of arms on the other. First time "Filipinas" appeared in the coins.
1864, production of silver coins in minor denominations ten, twenty and fifty centavos de peso. Bore the portrait of the Queen & later King Alfonso the 12th. Minted until 1898, stopped with the end of Spanish rule.
Silver Pesos / Spanish Philippine Peso
Madrid in 1897
6 Million silver coins exclusive for the Philippines.
Profile of young King Alfonso the 13th on one side and the legend “Islas Filipinas” on the other.
Legal tender until Americans demonetized them in 1904.
1896 Revolution
(Katipuneros vs. Spaniards)
First Philippine Republic
June 12, 1898
First President, Emilio Aguinaldo took steps to adopt a national currency system
Two types of Copper Coins
centavo denominations
Strucked by Army Arsenal in Malolos.
1st type: smaller, sun in the center, three stars above an island
2nd type: triangle with sun in the center,star within each point in the triangle.
Rare, possible coin patterns, not issued at all.
Aguinaldo ordered paper money, only one and five peso bills were printed. Individually handsigned by Pedro Paterno the secretary of Interior of the Republic.
New Monetary System
1 dollar = 2 Philippine Peso
US-Phil Coins
One peso, fifty, twenty and ten centavo denominations.
Designed by Melecio Figueroa
Standing female figure with windblown hair in her native costume.
Minted in US until 1919
Manila Mint > mint of the Philippine Islands opened & strucked the coins until 1941.
War = no coins minted in the country
1944 to 1945, coins minted again in US
Silver Certificates
First paper currency
Bearer could redeem in gold/silver coins.
First to carry “Philippine Peso” mark.
Two, five, ten, twenty, fifty, one hundred & five hundred peso issued.
1919, replaced by
Philippine Treasury Certificate
First bank notes, issued by the old Banco Espanol Filipino, worded in Spanish & printed in US.
1912, bank name changed to Bank of the Philippine Islands.
Succeeding notes then worded in English.
Philippine National Bank
established in 1916
Issued notes two, five, ten, twenty & one hundred peso denominations.
1918, one peso bill added.
Made in US, issued until 1937.
1948, withdrawn from circulation.
Philippines Commonwealth Status
Granted by US, 1935
3 Silver Coins
Designed by Ambrosio Morales.
Two One peso coins
1st: conjoined busts of President Roosevelt and Quezon ( first time a living Pres. was depicted on coin)
2nd: conjoined busts of Gov. Gen. Murphy and Pres. Quezon.
Fifty Centavo coin, busts of Murphy and Quezon facing each other w/ a sun in the center.
All common reverse the coat of arms of the commonwealth, the legend “USA” above & the date 1936 below.
Paper Money
New commonwealt seal used all series issued.
Changes: Quezon signature replaced that of Gen. Murphy, Philippines used in lieu of “Philippine Islands”.
Oct. 20, 1944 – US forces led by Gen. MacArthur brought new Philippine Treasury Certificates. Had the word “Victory” overprinted in bold black letters.
Used even after 1949, only redeemable in silver coins.
Japanese Occupation

1941 to 1945
Worst record of inflation in the Philippines
"Mickey Mouse Money"
Currency issued in great volumes, notes ranging from one centavo to one thousand pesos.
Issued by military forces and loyal civilians throughout the country
Printed by resistance fighters from Kalinga Apayao, Bohol, Leyte, Samar & other provinces.
Not accepted by everyone. People were tortured & killed by Japanese if seen using them.
Fourteen to Seventeen Million pesos worth of Silver Coins dumped into the waters of Caballo Bay, southern part of Corregidor before the surrender of PH-US forces. To keep money from falling into the hands of Japanese.
PH salvaged 12 million silver coins after war, remaining still in accounted for & still be buried under the sea.
Managed Currency System

freed existing system from rigidity of gold & silver standards, basis for issuance of money
Victory Certificates
still used
Central Bank – notes liabilities of bank, overprinted w/ bank’s name in bold red ink on the reverse.
Used until july 30, 1964
1957 – Central Bank’s first issue withdrawn from circulation
1961 – rest of the bill printed
1967 – Pres. Marcos withdrew from circulation
Central Bank – issued replacement for worn out coins during American occupation.
Coins – issued using designs of pre-war era, inscription in English, but featured coat of arms of the republic, on the reverse – this is the English series.
Minted in US till 1963, and in England & West Germany from 1965 to 1966.
August 31, 1979 – coins withdrawn from circulation

radical changes in design, sizes & metallic composition
designs nationwide contest and depicted historical personages with inscriptions in Filipino.
1972 – 1 peso brought back in circulation
Pres. Marcos decreed
1969 Bank Notes – overprinted w/ legend “Ang Bagong Lipunan” over the watermarked section of the bill.
Circulating as of 1980
Radical changes in coin design produced, first time, non-rounded coins, square one centavo coin, and scallop-edged five centavo were minted.
1 Peso – reduced in size
All coins - Legend Ang Bagong Lipunan & Central Bank
Circulating as of 1980, with Filipino coin series.

Latest currencies produced and issued.
The New Generation
Philippine Banknotes
Full transcript