Philippine real

Trade among the early Filipinos and with traders from the neighboring islands was conducted through barter.

Spanish-American coins minted to the currency system of 8 reales = 1 peso were brought over by the Manila galleons between the 16th and 19th centuries.

They were then succeeded starting 1726 by the famous columnarios (silver pillar dollars) or dos mundos.

These were then replaced by coins from newly independent Latin American countries in the 19th century, whose designs were counter-stamped in the 1830s by Spanish authorities in Manila.

In around 1830, the machinery of the "MANILA" counterstamp broke, so, in 1832, the king's initials "F 7" were used, changing in 1834 to those of his successor, "YII".