Coins of the Philippine peso
The Philippine peso is derived from the Spanish dollar or pieces of eight brought over in large quantities by the Manila galleons of the 16th to 19th centuries.
The original silver currency unit was the rupee or rupiah (known locally as salapi), brought over by trade with India and Indonesia.
Gold and silver coins brought to it by Spain, China and neighboring countries were in circulation.
Denominations consisted of The Casa de Moneda de Manila (or Manila mint) was founded in 1857 in order to supply smaller Philippine currency after the California gold rush of 1848 made silver more expensive and drained the colony of silver and small gold coins.
It produced the following denominations according to Spanish standards, with 100 centimos equal to a peso: The dearth of pre-1857 copper coins were addressed by counterfeit two-cuarto coins (worth 1/80th of a peso) made by Igorot copper miners in the Cordilleras.
This figure is an allegory for the hard work being done by the native peoples of the Philippines in building their own future.
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".
Defenders of Corregidor threw a large number of silver coins into the ocean, rather than allow the Japanese to accumulate this wealth.
It was issued its own Special Culion Currency due to the erroneous belief that leprosy could be transmitted via handling of money.
In 1942, during the Japanese invasion of the Philippines in World War II, Culion was cut off from Manila, leading to a shortage of currency.
[2][5][6] After independence, the segregation law was revised to allow private home isolation and treatment, removing the need for a leper colony.
A total of 200,000 50 centavos and 100,000 one peso coins were minted with the general's image on the obverse and the national coat-of-arms on the reverse.
In commemoration of Fedinand Marcos' declaration of Martial Law (which he titled "Ang Bagong Lipunan," the new society), a new series of coinage was issued in 1975, referred to as the Ang Bagong Lipunan Series.
Because of this, the Bangko Sentral ng Pilipinas issued a warning and several security measures on importing and falsifying Philippine coins.
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.
Proposals to retire and demonetize all coins less than one peso in value have been rejected by the government and the BSP.
[9] On November 29, 2017, the Bangko Sentral ng Pilipinas announced the release of the first coin in the New Generation Currency Series for circulation starting December 2017.
On July 10, 2001, BSP issued the 10-piso coin for general circulation to commemorate its 8th anniversary.
It has the profiles of Andres Bonifacio and Apolinario Mabini in a con-joint or in tandem manner on the obverse side.
This has been an additional denomination to the current coin circulation and a replacement for the 10-piso NDS banknote.
On March 26, 2018, the Bangko Sentral ng Pilipinas introduced the New Generation Currency Coin Series which was circulated through banks the next day.
Sentimo denominated coins depict a stylized representation of the Philippine flag on the obverse.
Peso denominated coins depict the portraits of renowned national heroes of the Philippines on the obverse.
On December 9, 2011, the Bangko Sentral ng Pilipinas issued a commemorative one-peso coin in celebration of the 150th Birth Anniversary of José Rizal.
[25] On December 18, 2013, the Bangko Sentral ng Pilipinas issued a commemorative ten-peso coin in celebration of the 150th Birth Anniversary of Andres Bonifacio.
[27][28] Production and issuance of two additional silver and gold coins in 1000-peso and 10,000-peso denominations were called off due to limitations in the procurement process.
[29] On December 21, 2015, the BSP issued a commemorative 10-peso coin in honor of General Miguel Malvar, in time for the 150th year birth anniversary.
[30] On January 27, 2017, the BSP issued a commemorative one-peso coin in honor of the Philippines' Chairmanship of the Association of Southeast Asian Nations (ASEAN).
[31] In August and November 2017, the BSP issued commemorative one-peso coins and 10-peso coin both honoring the 100th anniversary of the birth of educator and historian Horacio de la Costa and the 150th anniversary of the birth of three officers of the Philippine Revolutionary Army, Generals Artemio Ricarte, Isidoro Torres and Antonio Luna.
[32] On March 11, 2022, the BSP issued a commemorative 125-peso coin to honor the 125th martyrdom anniversary of Dr. Jose Rizal.
