Coins of the Philippine peso


Coins of the Philippine peso

Philippine peso coins are issued by the Bangko Sentral ng Pilipinas for circulation in the Philippines and are currently available in seven denominations.

Contents

History

Both Spain and the United States struck coins for the Philippines while the latter was their colony. Spanish issues were 1 peso, 2 pesos and 4 pesos (all gold from 1861–1868 and again in 1880-1885). Silver fractional coinage ran from 1864–1868 and again from 1880–1885 and were in the denominations of ten centavo, twenty centavo and fifty centavo.

The United States also struck coins for use in the Philippines from 1903 to 1945. Denominations included the ½ centavo, one centavo, five centavo, 10 cen, 20 centavo, 50 centavo, and one peso. The ½ and 1 centavo coins were struck in bronze, the 5 centavo struck in nickel, the 10, 20, 50 centavo and peso coins were struck in a silver composition. From 1903 to 1906, the silver coins had a silver content of 90%, while those struck after 1906 had a reduced silver content of 80%.

The obverse of these coins remained largely unchanged during the years 1903 to 1945. The ½ centavo, one centavo, and five centavo coins depict a Filipino man kneeling against an anvil, with a hammer resting at his side. He is on the left side (foreground), while on the right side (background) there is a simmering volcano, Mt. Mayon, topped with smoke rings. This figure is an allegory for the hard work being done by the native peoples of the Philippines in building their own future.

The obverse of the 10, 20, 50 centavo, and peso coins are similar, but they show the figure of Liberty, a standing female figure (considered by many to be the daughter of the designer 'Blanca') in the act of striking the anvil with a hammer. This was done to show the work being done by Americans in building a better Philippines. Liberty appears on the silver coins, instead of the base metal coins.

The reverse of the coins comes in two varieties. The earliest coins were minted when the islands were a US Territory, and they bear the arms of the US Territories. This is a broad winged eagle, sitting atop a shield divided into two registers. The upper register has 13 stars, and the lower register has 13 vertical stripes. The date appears at the bottom, and "United States of America" appears at the top.

When the islands became a US Commonwealth, the arms of the Commonwealth were adopted. This seal is composed of a much smaller eagle with its wings pointed up, perched over a shield with peaked corners, above a scroll reading "Commonwealth of the Philippines". It is a much busier pattern, and widely considered less attractive.

Coins were minted at the Philadelphia, San Francisco, Denver, and (after it was opened in 1920) Manila mints. Most of the coins struck at the Manila mint occurred after 1925.

Proof sets were struck for collectors from 1903 to 1908. It is likely that a large majority of these sets remained unsold at the time they were issued. The recorded mintage for sets in 1905, 1906, and 1908 is a modest 500.

Defenders of Corregidor threw a large number of silver coins into the ocean, rather than allow the Japanese to accumulate this wealth. A great deal of the booty was later recovered, but many of those were badly corroded.

Among the rarest coins in the U.S. Philippines series from the collectors' standpoint are the 1906-S One Peso, the 1916-S Five Centavos, the 1918-S Five Centavo Mule, the 1903-S Twenty Centavos (especially in Mint State) and the 1915-S One Centavo.

Three Commemorative coins were minted to celebrate the Commonwealth in 1936. They show President Franklin D. Roosevelt, Commonwealth President Manuel L. Quezon and U.S. High Commissioner Frank Murphy, who also has served as the last Governor General of the Islands. The 50 Centavo commemorative has a reported mintage of 20,000 pieces, was struck in 75% silver, and weighs 10 grams (the same specs as other 50 centavos). The two varieties of One Peso commemorative had reported mintages of 10,000 pieces. They weigh 20 grams, and are 90% silver.

Only the current series of coins (New BSP Series) were legal tender as of January 2, 1998, when the Bangko Sentral issued BSP Circular No. 81 which called for the demonetization of all previous existing Central Bank coins minted before 1995.

Recently, fake 10- and 5-piso coins dating 2001 and 2002 have entered circulation. Because of this, the Bangko Sentral ng Pilipinas issued a warning and several security measures on importing and falsifying Philippine coins. And it is because the BSP has announced that there is an artificial shortage of coins last June 2006. The BSP has asked the public to use all small coins or to have them exchanged for banknotes in local banks or other financial institution.

In December 2008 a Philippine Congress resolution called for the retirement and demonetization of all coins less than one peso.

Formerly circulating coins

English Series

In 1958, a new, entirely base metal coinage was introduced, consisting of bronze 1 centavo, brass 5 centavos and nickel-brass 10, 25 and 50 centavos.

English Series
Image Value Technical parameters Description Date of
Obverse Reverse Diameter Thickness Mass Composition Edge Obverse Reverse first minting issue withdrawal
1 centavo 18.5 mm Bronze Plain Figure of a man seated beside an anvil holding a hammer and Mt. Mayon, year of minting Bank title and coat of arms 1958 1967
5 centavos 20.0 mm Brass Plain Figure of a man seated beside an anvil holding a hammer and Mt. Mayon, year of minting Bank title and coat of arms 1958 1967
10 centavos 17.5 mm Nickel-brass Reeded Lady Liberty striking an anvil with a hammer and Mt. Mayon, year of minting Bank title and coat of arms 1958 1967
25 centavos 23.5 mm
50 centavos 30.0 mm

Pilipino Series

In 1967, the coinage was altered to reflect the use of Filipino names for the currency units. 1-piso coins were introduced in 1972.

Pilipino Series
Image Value Diameter Composition Edge Obverse Reverse Year of
first minting withdrawal
1 sentimo 10.0 mm Aluminum Plain Lapu-Lapu State title, coat of arms, year of minting 1967 1974
5 sentimos 13.0 mm Brass Plain Melchora Aquino State title, coat of arms, year of minting 1967 1974
10 sentimos 17.5 mm Nickel-brass Reeded Francisco Baltazar State title, coat of arms, year of minting 1967 1974
25 sentimos 21.0 mm Juan Luna
50 sentimos 27.0 mm Marcelo H. del Pilar
₱1 33.0 mm Jose Rizal State title, coat of arms, year of minting between the words "BANGKO" and "SENTRAL" 1972

Ang Bagong Lipunan Series

In 1975, the "Ang Bagong Lipunan" series was introduced with the ₱5 coins included. Aluminium replaced bronze and cupro-nickel replaced nickel-brass that year.

Ang Bagong Lipunan Series
Image Value Diameter Composition Edge Obverse Reverse Year of
first minting withdrawal
1 sentimo 11.5 mm (length of side of rounded square) Aluminum Plain State title, Lapu-Lapu, value "ANG BAGONG LIPUNAN," BSP logo, year of minting 1975 1983
5 sentimos 13.5 mm (8-pointed rounded star) Brass Plain State title, Melchora Aquino, value "ANG BAGONG LIPUNAN," BSP logo, year of minting 1975 1983
10 sentimos 17.5 mm Nickel-brass Reeded State title, Francisco Baltazar, value "ANG BAGONG LIPUNAN," BSP logo, year of minting 1975 1983
25 sentimos 21.0 mm State title, Juan Luna, value
₱1 28.5 mm State title, Jose Rizal, value "ANG BAGONG LIPUNAN," coat of arms with the scroll text altered to "ISANG BANSA, ISANG DIWA" ("One Nation, One Spirit") with two digits of the year minted on both sides, bank title
₱5 35.0 mm "ANG BAGONG LIPUNAN," "Setyembre 21, 1972" ("September 21, 1972"), Ferdinand Marcos, year of minting State title, coat of arms with the scroll text altered to "ISANG BANSA, ISANG DIWA" ("One Nation, One Spirit") 1982

Flora and Fauna Series

The Flora and Fauna series was introduced in 1983 which included ₱2 coins. The sizes of the coins were reduced and ₱5 coins were reintroduced in 1991, with the production of 50-sentimo and ₱2 coins ceasing in 1994.

Flora and Fauna Series
Image Value Diameter Composition Edge Obverse Reverse Year of
first minting withdrawal
1 sentimo 15.5 mm 99.2% Al
0.8% Mg
Plain State title, Lapu-Lapu, year of minting Value, Voluta imperialis 1983 1994
5 sentimos 17.0 mm State title, Melchora Aquino, year of minting Value, Vanda sanderiana
10 sentimos 19.0 mm State title, Francisco Baltazar, value Value, Pandaka pygmaea
25 sentimos 21.0 mm Brass Reeded State title, Juan Luna, year of minting Value, Graphium idaeoides 1983 1990
50 sentimos 25.0 mm 75% Cu
25% Ni
Plain State title, Marcelo H. del Pilar, year of minting Pithecophaga jefferyi, value 1983 1990
₱1 29.0 mm Reeded State title, Jose Rizal, year of minting Value, Anoa mindorensis
₱2 29.8 mm (decagon) Plain State title, Andres Bonifacio, year of minting Cocos nucifera, value
Improved Flora and Fauna Series (1991–1994)
25 sentimos 16.0 mm Brass Plain State title, Juan Luna, year of minting Value, Graphium idaeoides 1991 1994
50 sentimos 17.5 mm Reeded State title, Marcelo H. del Pilar, year of minting Pithecophaga jefferyi, value
₱1 21.6 mm Stainless steel Plain State title, Jose Rizal, year of minting Value, Anoa mindorensis 1991 1994
₱2 24.0 mm Reeded State title, Andres Bonifacio, year of minting Cocos nucifera, value
₱5 25.5 mm Nickel brass Reeded State title, Emilio Aguinaldo, year of minting Pterocarpus indicus, value 1991 1994

Circulating coins

Current Series [1]
Image Value Diameter Weight Composition Edge Obverse Reverse First Minted Year
1 sentimo 15.5 mm 2.0 g Copper plated steel Plain "Republika ng Pilipinas", value, year of minting Logo of Bangko Sentral ng Pilipinas 1995
5 sentimos 15.5 mm 1.9 g Plain
(with 4 mm central hole)
"Republika ng Pilipinas", value, year of minting Words "Bangko Sentral ng Pilipinas" along the border
10 sentimos 17.0 mm 2.5 g Reeded "Republika ng Pilipinas", value, year of minting Logo of Bangko Sentral ng Pilipinas
25 sentimos 20.0 mm 3.8 g Brass Plain "Republika ng Pilipinas", value, year of minting Logo of Bangko Sentral ng Pilipinas 1995
3.6 g Brass plated steel 2004
1 peso 24.0 mm 6.1 g Cupronickel Reeded "Republika ng Pilipinas", Profile of José Rizal, value, year of minting Logo of Bangko Sentral ng Pilipinas 1995
5.35 g Nickel plated steel 2004
5 pesos 27.0 mm 7.7 g 70% copper
5.5% nickel
24.5% zinc
Plain
12-pointed scallop border design, "Republika ng Pilipinas", Profile of Emilio Aguinaldo, value, year of minting 12-pointed scallop border design, Logo of Bangko Sentral ng Pilipinas 1995
10 pesos 26.5 mm 8.7 g Ring: Cupronickel Interrupted milled Ring: "Republika ng Pilipinas", year of minting Logo of Bangko Sentral ng Pilipinas 2000
Center: Aluminium bronze Center: Profiles of Andres Bonifacio and Apolinario Mabini, value

References

  1. ^ Bangko Sentral ng Pilipinas - BSP Notes and Coins and Gold Buying Program

External links


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