DEVELOPMENT OF MONEY_BERAME

RECA MAE F. BERAME
BSBA FM 3B
HILIPPINES:
Development of Money
Disclaimer: Years indicated are based on Bangko Sentral ng Pilipinas ( History of Philippine Money – Coins and Notes)
EARLY PHILIPPINE HISTORY
SPANISH ERA 1521-1897
Ou
The Dos Mundos, columnarias, pillar
dollar, or Mexican dollar was circulated
extensively not only in the Ph but the
world over from 1732 to 1772. One of
the most beautiful coin designs ever
produced, it was first minted in Mexico
during the reign of Philip V.
Escudo coin were introduced as early
as 1535 and for centuries became the
dominant coin in Spain, Portugal, and
their colonies, particular in Philippines.
Since the Philippines is naturally rich in gold, it was used in ancient
times for barter rings, personal adornment, jewelry, and the first local
coinage called Piloncitos. It had a flat base that bore an embossed
inscription of the letters “MA” or “M” similar to the Javanese script
of the 11 th Century. It is believed that this inscription was the name by
which the Ph was known to Chinese traders during Pre-Spanish time.
Alfonsinos. From 1880 to 1885, the
Case de Moneda de Manila issued
gold and silver cons bearing the bust
of Alfonso XII who was installed on
the throne of Spain in 1874.
Isabelinas were the first gold and
silver coins minted in the Philippines
in 1861-1868 by the Case de Moneda
de Manila.
Macuquinas or cobs, locally called
hilis-kalamay, were the earliest coins
brought in by the galleons from
Mexico. The galleon trade (1565-1815)
facilitated commerce among Asia, the
Americas, and Europe.
The first paper money circulated in
the Philippines was the Philippine
peso fuerte issued in 1851 by the
country's first bank, the El Banco
Español Filipino de Isabel II. Being
bimetallic and convertible to either
silver pesos or gold onzas, its
volume of 1,800,000 pesos was
small relative to about 40,000,000
silver pesos in circulation at the
end of the 19th century.
Barilla was the first coin struck in
the Philippines as ordered by the
Royalty of Spain. It bore the coat-atarms
of the City of Manila and the
inscription Ano de 1728.

Sulu coins. The Muslims of Sulu in the
southermost islands engaged actively in
barter trade with the Arabs, Chinese,
Bornean, Moluccan, and British traders.
The Sultans issued coins of their own as
early as the 5th century.
Portrait series. Starting in 1772, the
Bourbon rulers introduced silver coins
bearing the bust portraits of such
monarchs as Corulos III, Carolus IV and
Ferdin VII. Some Chinese however, felt it
necessary to stamp their mark to attest to
the degree and quality of the coin, thus
"chopmarked" the coin.
Counterstamped. Latin American coins
that found their way to the Philippines
were counterstamped with F.70
(Ferdinand VII) and Y.II from 1835 to
1837.
Alfonsos. The first silver peso minted
exclusively for use in the Philippines bore
the bust of Alfonso XIII and the words
Islas Filipinas. Minted in Madrid 1897,
the Alfonsos or the Spanish-Philippine
pesos remained in circulation and were
legal tender in the islands until 1904.
REVOLUTIONARY PERIOD 1898-1899
O
1897 FM Madrid (mint mark:
6 pointed stars, M)
1 peso
Republic of
the
Philippines
Paper
currency of
One peso
(1899)
1899 Manila 2 CENTAVOS
DE PESOS
1899 Manila
Five-Peso
Revolutionary
Notes

AMERICAN PERIOD 1900-1941
A set of American regime coins
minted in San Francisco dated 1903
(first year of issue): 1 peso, 50, 20, and
10 centavos in silver;
5 centavos in nickel; one and half
centavo in copper.
The banks that issued Philippine paper money or currency were
Banco Español-Filipino: 1904 Issue and 1908 Issue, Bank of
the Philippine Islands: 1912, 1920, 1928 and 1933 Issue,
Philippine Islands: 1903, 1905, 1906, 1908, 1910, 1912 and
1916 Issue, Philippine National Bank: 1917 Emergency WWI
Issue, 1919 ND Emergency Issue, 1916-1920 Regular Issue,
1921, 1924 and 1937 Issue, Philippine Islands: 1918, 1924 and
1929 Issue, and Commonwealth of the Philippines: 1936, 1941,
1944 ND Victory Issue.

JAPANESE OCCUPATION 1942-1945
1942 issue of the Japanese government-issued Philippine peso
Mickey Mouse Money
/ The Fiat Peso
1943–1945 series. new series of notes in denominations of 1, 5 and 10 pesos were
issued in 1943. Hyperinflation also forced the Japanese to issue notes for 100, 500
and 1000 pesos in 1944.

Collection of Phillipine Emergency Circulating Notes - Guerilla Pesos

THE PHILIPPINE REPUBLIC 1946- PRESENT
English-Series Coins 1958-1979
English-Series Bank Notes 1949-1974
50 Centavos
25 Centavos
10 Centavos
5 Centavos
1 Centavo

Pilipino Series Coins (1967 – 1998)
Pilipino Series Banknotes (1969-1974)
1-Piso
100-piso Pilipino Series Banknote
50-Sentimos
50-piso Pilipino Series Banknote
25-Sentimos
10-Sentimos
20-piso Pilipino Series Banknote
5-Sentimos
10-piso Pilipino Series Banknote
1-Sentimo
5-piso Pilipino Series Banknote
1-piso Pilipino Series Banknote
Ang Bagong Lipunan Coins (1975 - 1998)
Ang Bagong Lipunan Series Banknote (1973-1993)
5-piso
100-piso
1-piso
50-piso

25-Sentimos
20-piso
10-Sentimos
5-Sentimos
10-piso
1-Sentimo
5-piso
2-piso
Flora and Fauna Series (1983 – 1998)
New Design Series (NDS) (1985-2017)
2-piso
1-piso
50-Sentimos
25-Sentimos
10-Sentimos

5-Sentimos
1-Sentimo
Improved Flora and Fauna Series (1991 – 1998)
5-piso
2-piso
New Generation Currency Banknotes Series (2010-present)
1-piso
50-Sentimos
25-Sentimos
BSP Coin Series (1995 – Present)

Commemorative Banknotes
New Generation Currency (NGC) Coin Series
Commemorative Coins

References:
https://www.bsp.gov.ph/Pages/CoinsAndNotes/HistoryOfPhilippineMoney/HistoryOfPhilippineMoney.a
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https://kahimyang.com/kauswagan/general-blogs/728/11-pieces-of-history-coins-used-by-filipinosbefore-and-during-the-spanish-era
http://papercoinage.weebly.com/spain-philippines-coins.html
https://en.numista.com/catalogue/philippines_section-banknotes-1.html
http://papercoinage.weebly.com/united-states-administration-notes.html
https://www.wikiwand.com/en/Japanese_government-issued_Philippine_peso
https://www.hremontpc.com/index.php?main_page=product_info&products_id=33133