history [edit ]
On May 1, 1852, the first commercial bank of the Philippines, El Banco Español Filipino de Isabel II issued the following denominations initially 10, 25, 50 and 200 pesos fuertes ( potent guinea-bissau peso ). They were used until 1896 .
foremost Philippine Republic [edit ]
The revolutionist democracy of Emilio Aguinaldo ordered the issue of 1, 2, 5, 10, 25, 50, 100-peso banknotes which were signed by Messrs. Pedro A. Paterno, Telesforo Chuidan and Mariano Limjap to avoid forge. however, only the 1 and 5-peso banknotes have been printed and circulated to some areas by the end of the ephemeral First Republic .
american time period [edit ]
By 1903, the american english colonial insular Government had issued Silver Certificates in denominations of 2, 5 and 10 dominican peso, backed by silver mexican peso or U.S. gold dollars at a fix rate of 2 pesos/ $. In 1905 higher denominations of 20, 50, 100 and 500 pesos were added. In 1908, the El Banco Español Filipino was allowed to print banknotes in the trace denominations with textbook in spanish : Cinco ( 5 ), Diez ( 10 ), Veinte ( 20 ), Cincuenta ( 50 ), Cien ( 100 ) and Dos Cientos ( 200 ) Pesos. In 1912, the bank was renamed Bank of the Philippine Islands ( BPI ) and henceforth issued the lapp banknotes in English. In 1918, the Silver Certificates were replaced by the Treasury Certificates issued with government-backing of bonds issued by the United States Government in 1, 2, 5, 10, 20, 50, 100 and 500 Pesos. In 1916, the Philippine National Bank ( PNB ) was created to administer the state-holding shares and print banknotes without any quota from the Philippine Assembly. They printed banknotes in denominations of 1, 2, 5, 10, 20, 50 and 100 mexican peso. During World War I, the PNB issued emergency notes printed on cardboard paper in the postdate denominations : 10, 20, 50 centavo and 1 uruguayan peso. besides overprinted BPI Notes in Five, Ten and Twenty Pesos ascribable to the lack of currency. The Commonwealth of the Philippines issued Treasury Certificates with the seal of the new government but even circulated the BPI and PNB banknotes .
japanese government-issued Philippine chilean peso [edit ]
1942 series [edit ]
1943-1945 series [edit ]
Banknotes issued by the Bangko Sentral ng Pilipinas [edit ]
“ VICTORY-CBP ” banknotes [edit ]
The banknotes beginning issued by today ‘s Bangko Sentral ng Pilipinas ( once the “ Central Bank of the Philippines ” ) were the VICTORY-CBP Overprints in 1949, which were merely overprints of older American-era banknotes. The inaugural official bill series to be printed were the english Series in 1951 .
english Series ( 1949–1971 ) [edit ]
The English Series were Philippine banknotes that circulated from 1949 to 1969. It was the lone bill series of the Philippine guinea-bissau peso to use English. [ 2 ]
Pilipino Series ( 1969–1974 ) [edit ]
The Pilipino Series banknotes is the list used to refer to Philippine banknotes issued by the Central Bank of the Philippines from 1969 to 1977, during the term of President Ferdinand Marcos. This series represented a free radical change from the English serial by undergoing Filipinization and a blueprint change. It was succeeded by the Ang Bagong Lipunan Series of banknotes, to which it shared a similar design. The lowest denomination of the series is 1- piso and the highest is 100- piso. [ 3 ]
Ang Bagong Lipunan Series ( 1973–1996 ) [edit ]
The Ang Bagong Lipunan Series ( literally, ” The New Society Series ” ) is the name used to refer to Philippine banknotes issued by the Central Bank of the Philippines from 1973 to 1985. It was succeeded by the New Design Series of banknotes. The lowest denomination of the series is 2- piso and the highest is 100- piso. [ 4 ] After the declaration of Proclamation № 1081 by President Ferdinand Marcos on September 23, 1972, the Central Bank was to demonetize the English Series banknotes in 1974, pursuant to Presidential Decree 378. All the unissued Pilipino Series banknotes ( except the one mexican peso bill ) were sent back to the De La Rue plant in London for overprinting the watermark area with the words “ ANG BAGONG LIPUNAN ” and ellipse geometric safety blueprint. The one guinea-bissau peso bill was replaced with the two colombian peso bill, which features the lapp elements of the demonetize Pilipino series one chilean peso bill. On September 7, 1978, the Security Printing Plant in Quezon City was inaugurated to produce the banknotes. The banknotes were calm legal offer even after the introduction of the New Design Series banknotes, however it is rarely used after the EDSA Revolution. [ 5 ] The banknotes were finally demonetized on February 2, 1996 ( but can however be switch over with legal tender currency to the Central Bank until February 1, 1996 ) [ 6 ] after clamors that the banknotes can be used to buy votes for the 1992 Presidential Elections. [ 7 ]
New Design/BSP Series ( 1985–2017 ) [edit ]
By 1983, the committee was deciding on the issue of new banknotes to replace the Ang Bagong Lipunan Series by issuing seven new banknotes consisting in denominations of 5, 10, 20, 50, 100, 500, and 1000-pesos. [ 8 ] On June 12, 1985, the Central Bank issued the New Design Series starting with a new 5-peso bill with the face of Emilio Aguinaldo. A new 10-peso bill with the face of Apolinario Mabini was then introduced on July 1985 a month after the 5-peso bill was issued. On March 3, 1986, a fresh 20-peso bill appeared. After the 1986 People Power Revolution [ 5 ] [ 9 ] and the modern 1987 Constitution was promulgated, the Central Bank issued a new 50, 100- and for the second time a new 500-peso bill with the side of Benigno Aquino Jr. In 1991, the Central Bank issued for the first time a new 1000-peso bill, containing the portraits of José Abad Santos, Josefa Llanes Escoda and Vicente Lim. After the passage of the New Central Bank Act of 1993 when the Bangko Sentral ng Pilipinas ( BSP ) was reestablished as the central monetary authority, this series was renamed the BSP Series and featured the new seal of the BSP. In 1998, the 100,000-peso Centennial bill, measuring 8.5 ” x14 ”, accredited by the Guinness Book of World Records as the worldly concern ‘s largest legal crank note. It was issued in very limited measure during the celebration of the Centennial of Philippine Independence. In the same year, the practice in banknotes since the Commonwealth era of reproducing the signature of the President of the Philippines over the legend “ President of the Philippines ” was abandoned in favor of explicitly stating the president ‘s identify. In 2001, the BSP upgraded the security features ( visible fibers, value panel, security thread and water line ) of 1000, 500, and 100-peso banknotes with extra security features like a second slick security weave, changeable strip, fluorescent printing, optically variable star ink, and microprints. [ 10 ] In 2002, the Bangko Sentral issued a fresh 200-peso bill with the lapp aforesaid security features and with the face of former President Diosdado Macapagal. His daughter, Gloria Macapagal Arroyo, is at the back of the 200-peso bill which showed her being sworn into office at the EDSA Shrine. She is the first president whose visualize has been included in a bill while in office since hand brake currency was issued by versatile provincial currentness boards during World War II. On July 8, 2009, the BSP announced that it would recall all bank notes made of abaca and cotton soon and replace it with an all-polymer series. This plan has been abandoned, however, when the New Generation Currency serial was launched in 2010 with all banknotes hush made of manila hemp and cotton. [ 11 ] These banknotes were legal tender alongside the New Generation Currency series until the end of 2015, when the New Generation Currency series became a one circulating set. [ 12 ] The New Design/BSP series ceased to be legal tender on January 1, 2016, and were demonetized on December 29, 2017.
Signature pairs of the President of the Philippines and Governor of the Bangko Sentral ng Pilipinas appearing on the banknotes :
New Generation Currency Series ( current ; 2010–present ) [edit ]
In 2009, the Bangko Sentral nanogram Pilipinas announced that it will launch a massive redesign for its banknotes and coins to further enhance security features and to improve lastingness. [ 14 ] The BSP released the fresh design of the banknotes on December 16, 2010, along with an initial batch. The members of the numismatic committee included Bangko Sentral Deputy Governor Diwa Guinigundo and Dr. Ambeth Ocampo, chair of the National Historical Institute. Designed by Studio 5 Designs and Design Systemat, the new banknotes ‘ designs feature celebrated Filipinos and iconic natural wonders. Former President Corazon Aquino was added to the 500-peso bill in concert with Senator Benigno Aquino Jr. [ 15 ] The son “ Pilipino ” is rendered in the reverse in Baybayin ( ᜉᜒᜎᜒᜉᜒᜈᜓ ). The baptismal font used for lettering in the banknotes is Myriad, while the numerals are set in the Twentieth Century baptismal font. The New Generation Currency series is the alone circle fructify of notes after December 30, 2017. [ 12 ] In 2017, the BSP updated the design of the NGC series banknotes with the following changes : [ 16 ]
- Enlarged the font size of the year of issue (all banknotes)
- Italicized the scientific names on the reverse (all banknotes)
- Replaced the images of the Aguinaldo Shrine and the Barasoain Church on the obverse side of the ₱200 banknote with scenes of the Declaration of Philippine Independence and the opening of the Malolos Congress respectively.
- The text “October 1944” was added after the word “Leyte Landing” at the obverse of the ₱50 banknote
- The Order of Lakandula Medal and the phrase “Medal of Honor” were removed on the obverse side of the ₱1000 banknote
In 2020, the Enhanced NGC series all banknotes except for the ₱20 were updated with the following changes :
- The addition of intaglio tactile markings for the visually impaired in the form of horizontal bands (all banknotes)
- The addition of an improved windowed security thread for the ₱100, ₱200, ₱500, ₱1000 banknotes featuring indigenous weaving patterns.
- For the ₱1000 note the thread size has been increased to 5 millimetres, with the rest remaining the same.
- For the ₱500 and ₱1000, the denomination value has been embossed with optically variable ink wherein the color changes if the banknote is tilted.
- A stylized Philippine Flag has also been added with optically variable ink on the ₱500 note replacing optically variable device patch.
- The Concealed Value are more reflective (all banknotes).
- For the ₱500 and ₱1000, the denomination at the left has a rolling bar effect which you can tilt, and changing colors.
Signature pairs of the President of the Philippines and Governor of the Bangko Sentral ng Pilipinas appearing on the banknotes :
Errors [edit ]
respective errors have been discovered on banknotes of the New Generation series and have become the national of ridicule on social network sites. Among these are the exclusion of Batanes from the Philippine map on the overrule of all denominations, the mislocation of the Puerto Princesa Subterranean Underground River on the reverse of the 500-peso bill and the Tubbataha Reef on the 1000-peso poster, and the faulty discolor on the beak and feathers of the blue-naped parrot on the 500-peso bill. [ 20 ] [ 21 ] The scientific names of the animals featured on the invert sides of all banknotes were incorrectly rendered a well. [ 22 ] According to Design Systemat, the designers of the raw bills, that drafts prepared by the company of the new 500-peso circular shows a red beak of the blue-naped parrot. This color was changed by the printers to account for practical printing concerns. The designers further explains that printing banknotes is not like printing brochures. Due to the intaglio printing printing and limited impression capability of bill printers, it can entirely produce a express wide color reproduction. The allege mislocation of the Tubbataha Reef on the one thousand guinea-bissau peso note was due to a security feature, a smaller translation of the have species on the bills ‘ invert ( which is besides featured on all bill denominations ) was located on acme of the accurate localization of the Tubbataha Reef on the map. Giving the option of either moving the key security system feature on the standard stead or locating the Tubbataha marker correctly, the bills ‘ french printers, Oberthur Technologies, decided to move the reef marker slightly confederacy on the Philippine map. [ 23 ]
commemorative banknotes [edit ]
commemorative banknotes have been issued by the Bangko Sentral nanogram Pilipinas to memorialize events of historic significance to the Philippines. Most normally they were issued by adding a commemorative overprint on the watermark area of a circle appellation. Less common are especially-designed non-circulating commemorative banknotes sold to collectors at a premium over front value. [ 24 ]
commemorative overprint banknotes summary [edit ]
Higher value commemorative banknotes [edit ]
2,000 piso [edit ]
The Central Bank of the Philippines ( Bangko Sentral ng Pilipinas ) issued merely 300,000 pieces of this 216 millimeter x 133 mm 2,000 Philippine chilean peso centennial commemorative legal tender bill. Another version, with the same design but measured at 160 x 66 millimeter, was besides planned to be issued as legal sensitive in 2001, but due to the ouster of President Joseph Estrada as the result of the Second EDSA rotation ( EDSA People Power II ), the notes were stored in the vaults of the Bangko Sentral nanogram Pilipinas. As of 2010, the deposit was considering destroying the bulge of the unissued notes ( known as the “ New Millennium ” or “ Erap ” notes ), saving only 50,000 of the five million pieces to be demonetized for “ historical, educational, numismatic, or other purposes ”. however it was not until 2012 that the bank began selling this numismatic product in a folder that clearly stipulates that the notes are not legal tender. [ 25 ] The obverse side features President Joseph Estrada taking his oath of agency on June 30, 1998, in the historic Barasoain Church, the seat of the first democratic democracy in Asia shown in the background a well as the scroll of the Malolos Constitution and the seal of the BSP ( Bangko Sentral ng Pilipinas ). The reverse side depicts the re-enactment of the declaration of Philippine Independence at the Aguinaldo Shrine in Kawit, Cavite on June 12, 1998, by President Fidel V. Ramos and besides features the Philippine Centennial Commission logo. The security features of the note include a three-dimensional cylinder mold-made portrait water line of the two presidents and the years 1898–1998, iridescent band, color-shift windowed security train of thought, latent image and perfect diaphanous file .
100,000 piso [edit ]
The 100,000-peso centennial note, measuring 356 adam 216 millimeter, was accredited by the Guinness Book of World Records as the world ‘s largest legal tender note in terms of size. 1,000 pieces were issued during the celebration of the centennial of Philippine independence in 1998. [ 26 ] It has since been surpassed by the slightly larger 600 malaysian ringgit bill .
5,000 piso [edit ]
Commemorative ₱5,000 bank note displaying the national hero Lapulapu, considered as the first gear Filipino to resist spanish rule
On January 18, 2021, Bangko Sentral ng Pilipinas, in cooperation with the quincentennial Commemorations in the Philippines launches the 5,000-Piso Commemorative Non-Circulating Banknote, in honor of heroism of Lapulapu. On its obverse, the bill depicts a young Lapulapu, an prototype of the Battle of Mactan, the QCP logo, and the Karakoa, the bombastic outrigger warships used by native Filipinos, while on its invert shows the Philippine eagle, or the Manaol, which symbolizes clean vision, exemption, and potency ; and which embodies the ancient Visayan belief that all animation creatures originated from an eagle, besides featured are the tree of a coconut, which was food the people of Samar provided to Ferdinand Magellan and his crowd ; and Mount Apo, which is located in Mindanao, where the circumnavigators finally found directing clues to their intended finish of Maluku or the Spice Island. [ 27 ]