Evolution of Philippine Currency

  • Mar 16, 1521

    Spanish Era

    Spanish Era
    Three hundred years of Spanish rule left many indelible imprints on Philippine numismatics.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.
  • Period: Mar 16, 1521 to

    Evolution of Philippine Currency

  • Revolutionary Period (1898-1899)

    Revolutionary Period (1898-1899)
    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.
  • The American Period (1900-1941)

    The American Period (1900-1941)
    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 Japanese Occupation (1942-1945)

    The Japanese Occupation (1942-1945)
    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
  • The Philippine Republic

    The Philippine Republic
    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.