After the declaration of Proclamation № 1081 on September 23, 1972, the Central Bank demonetized all the existing banknotes (both the English and Pilipino series) on March 1, 1974, pursuant to Presidential Decree No.
[1] All of the unissued banknotes were sent back to the De La Rue plant in London for overprinting the watermark area with the words "ANG BAGONG LIPUNAN" and an oval geometric safety design.
Colored green, the main design of the note features a portrait of Filipino revolutionary Andres Bonifacio on the front and a scene of the Blood Compact of the Katipuneros on the back Colored brown, the principal design on the note features a portrait of Apolinario Mabini on the front and the Barasoain Church, site of the drafting of the Malolos Constitution and the inauguration of the First Philippine Republic on the back.
Colored red, the main design of the note features a portrait of Philippine president Sergio Osmeña on the front and the Legislative Building (today the National Museum of Fine Arts) on the back.
Colored violet, the principal design of the note features a portrait of Philippine president Manuel A. Roxas on the front and the Former headquarters of the Bangko Sentral ng Pilipinas on the back.