Learn Philippine History Through Coins and Bills Posted at 12:09 Pm June 18, 2010 by Anna Valmero
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Learn Philippine history through coins and bills Posted at 12:09 pm June 18, 2010 By Anna Valmero MAKATI CITY, METRO MANILA – Aside from allowing us to buy our basic needs and sometimes, reward ourselves with our wants, money can be a good way to learn about Philippine history. Heroes and national symbols have figured prominently in peso coins, while most of the bills or banknotes we use today have images of the country’s past presidents. But did you know that the design of the Philippine money, as we know it today, was a product of a long history of design changes? Early accounts of pre-Hispanic trade relations between the Philippines and China listed gold, wax, cotton, small shells, dye-wood, carabao horns, and metal bells as accepted forms of money. The Yellow Money Cowry, a kind of shell, served as a medium of exchange among Filipinos in terms of trading goods. Then three centuries ago, Filipinos used piloncitos or gold beads as coins with stamps of Ma from the Filipino alphabet alibata. After 1521, the Filipinos used hilis kalamay, or the local popular term for macuquinas, irregularly shaped coins hammered in Mexico that bore the seals of Spanish rulers such as Charles II, Philip IV and Philip V. Later, the barilla – made from crude bronze or copper – also reached the country through the galleon trade. During the revolutionary period, the Philippine republic under Gen. Emilio Aguinaldo, the Filipinos minted their own coins and printed their own paper currency in one- and five-peso denominations. The notes were printed as Republika Filipina Papel Moneda de Un Peso Y Cinco Pesos, which looked similar to ticket stubs we have today. The notes were signed to avoid counterfeiting. When the Coinage Act of the Philippines was passed in 1903, Filipino engraver and artist Melecio Figuroa designed the ½ centavo to one peso coins, with the front side of the coin showing a lady who holds a gavel with the Mayon Volcano in the background. On the back of the coin is the seal of the United States of America. Then came the Mickey Mouse money, the war notes in big denominations issued by the Japanese occupation forces, which have little value at all. In 1949, the Bangko Sentral ng Pilipinas was established as the country’s central monetary authority. But the first issue of notes in the English series were printed by Thomas Dela Rue in London, England while the coins were minted in the U.S. Then in the 1970s, former president Ferdinand Marcos ordered the release of Ang Bagong Lipunan series of coins and banknotes. The back designs of the coins during this time included the Philippine eagle for the 50-cent coin, the tamaraw for the one-peso coin and the coconut tree for the two-peso coin. The coin designs evolved into the flora and fauna series, the improved flora and fauna series and the new series we are currently using today. Interestingly, the Philippines has the highest per-capita number of coins in Southeast Asia, according to the Philmoney blog. There are 150 coins for every Filipino but an “artificial” coin shortage is felt because many coins are being hoarded. Today, the one-peso coins feature national hero Dr. Jose Rizal, followed by the relatively new five-peso coins featuring Emilio Aguinaldo and ten-peso coins that feature Apolinario Mabini and Andres Bonifacio side by side. We are using the New Design Series of banknotes that were first printed by Dela Rue in England, which include the phased-out green five-peso bill (which has the image of Gen. Aguinaldo) issued on June 1985. The 10-peso brown banknote, issued on July 1985, has the image of Mabini, who was later joined by the Katipunan revolutionary leader Andres Bonifacio. At the back is the Barasoain Church where the Malolos Constitution was proclaimed and the Congress of the First Republic convened in 1899. In early 1986, the BSP issued the orange 20-peso banknote featuring Manuel L. Quezon, the first first president of the Commonwealth under the 1935 Constitution, and Malacanang Palace at the back. After the 1986 People Power Revolt, the banknotes amounting to P50, P100 and P500 were issued. Sergio Osmena, patriarch of a well-known political clan who succeeded Quezon, appeared in the 50-peso banknote. At the back is the National Museum, which was formerly called Legislative Building. The purple 100-peso bill, meanwhile, features Manuel Roxas and the Philippine National Bank. After the Edsa Revolt, the 500-peso bill came out featuring the image of slain senator Ninoy Aquino instead of Marcos. Written on the front side are Ninoy’s beliefs Faith in our people and faith in God and The Filipino is worth dying for. There is also a typewriter representing Aquino as a journalist (he was a war correspondent in Korea when he was 18 years old). The reverse side features images of Aquino’s aspirations – a united Filipino society, a pro-poor education program and a dove that symbolizes peace after it landed on his window during a rally just outside his cell. The 1,000-peso notes were first issued in 1991. For the first time, the front side featured three images – Chief Justice Jose Abad Santos, first Filipino Westpoint graduate Vicente Lim and founder of Girl Scouts of the Philippines Josefa Llanes- Escoda. Although not presidents, the three are dubbed heroes of the resistance against the Japanese occupation in the country. On the reverse side is the Banaue rice terraces, Manunggul jar cover and the langgal. In 2002, the 200-peso notes were issued featuring former president Diosdado Macapagal and commemorating June 12 as the country’s Independence Day. During his term, Macapagal officially shifted the date of the Independence Day from July 4. At the back is an image of his daughter, outgoing president Gloria Macapagal-Arroyo, being sworn in by then Chief Justice Hilario Davide after the second Edsa Revolution that ousted his predecessor Joseph Estrada. Aside from the denominations that we use, the BSP also prints commemorative bills such as the 100,000-peso note to commemorate the Centennial of Independence from more than 300 years of Spanish colonial rule in 1998. Measuring 356mm by 216mm (about the size of a legal paper), the bill is recognized by the Guinness World Records as the world’s largest legal tender in terms of size. Only 1,000 of these notes were issued. A sample is at the Museum of Money at BSP. Another example of a commemorative bill is the 100-peso note with the overprint of the UP Oblation seal to commemorate the centennial anniversary of the University of the Philippines. This is also true for coins, such as the Cory Aquino commemorative coin worth 10,000 pesos. There are also news that Cory might join husband and martyr Ninoy Aquino in the 500-peso bill. Another one for the collector’s item is the 50-peso oin released by BSP to commemorate the International Year of the Child in 1979. Just a reminder, our existing bills will be in circulation for the next three years since BSP will be launching new banknotes by December 2010, with the new set of coins to be introduced by 2012. This would mean that our existing notes will soon be seen only in museums so learn what you can from it. Or follow the path of numismatists, who collects coin and paper bills. Also, did you know that current Philippine banknotes have hidden security features such as microprinting or very small text that cannot be seen by the naked eye? For example, on the 100-peso bill, the name Bangko Sentral ng Pilipinas is printed on one of the buildings printed at the back of the bill. The same can be found on 50-peso, 200-peso and 500-peso bills Ref.: http://loqal.ph/science-and-education/2010/06/18/learn-philippine-history- through-coins-and-bills/ .