Introduction Coins made of nickel or containing nickel (copper-nickel, nickel-plated, etc.) have a special appeal among collectors, because they often represent transitional phases in minting technology, responses to economic pressures (like the rising cost of silver), or aesthetic and metallurgical experimentation. In the Netherlands, while many older coins were silver or copper based, the mid-20th century onward saw increasing use of nickel (or nickel alloys) for durability, cost, and modernization. Rarity in these coins may arise from low mintage, withdrawal before general circulation, errors, proof issues, or wartime constraints. This article explores the Dutch context: what coins qualify, which are rare, and what makes them valuable to collectors, along with broader historical context. 2. His...
Hidden Treasures: The Fascinating Stories Behind Old Filipino Banknotes #Banknotes #collectables #papermoney
Introduction
Banknotes are more than just pieces of paper used to buy goods or pay for services. They are living testaments of history, culture, and national identity. Every line, symbol, portrait, and shade of color carries meaning, connecting us to the struggles, victories, and values of the Filipino people. For collectors, old Filipino banknotes are not merely currency—they are hidden treasures filled with stories that speak of resilience, colonial influence, and independence.
This article dives deep into the fascinating history of old Philippine banknotes. From the earliest issues under Spanish rule, to the American colonial designs, to the wartime notes of the Japanese occupation, and finally to the independent Philippine Republic’s colorful paper money, we uncover the untold stories behind these pieces of history. Along the way, we will also explore their rarity, collectibility, and why they remain a sought-after part of Filipino heritage.
Chapter 1: The Early Years of Philippine Paper Money
Spanish Colonial Era
The story of Philippine banknotes begins in the late 19th century. Prior to this period, Filipinos primarily used coins for trade—copper cuartos, silver pesos, and gold onzas. But as the colonial economy grew, the need for paper money became undeniable.
In 1852, the El Banco Español Filipino de Isabel II (later known as Bank of the Philippine Islands) issued the first true banknotes in the Philippines. These notes were denominated in pesos and bore the likeness of Queen Isabel II. The Spanish colonial notes were scarce, partly because they were issued only in limited quantities and partly because they were often hoarded or destroyed after circulation.
Collectors today consider these early notes extremely valuable, as they mark the beginning of Philippine paper currency. They also reflect the dominance of Spanish authority, where the Queen’s portrait served as a reminder of the monarchy’s reach even in the far-flung colony of the Philippines.
The Revolutionary Banknotes
By 1896, the Philippine Revolution had erupted. During this time, the revolutionary government led by Emilio Aguinaldo issued its own paper money. These notes, printed in Kawit, Cavite, bore the seal of the Republic and carried inscriptions in Spanish and Tagalog.
These banknotes were not just currency—they were symbols of defiance against Spanish rule. They declared that the Filipino nation was capable of self-governance, even in the realm of finance. Unfortunately, because of limited printing technology and unstable political conditions, only a small number of these notes survived. Today, revolutionary banknotes are prized collectibles, valued not only for their rarity but also for the nationalistic spirit they embody.
Chapter 2: American Colonial Influence
When the United States took control of the Philippines after the Spanish-American War in 1898, the American colonial government sought to stabilize the monetary system. This led to the issuance of Philippine–American banknotes, which were printed in the U.S. by the Bureau of Engraving and Printing.
The Silver Certificates
In 1903, the Philippine Commission introduced silver certificates backed by silver pesos. These notes were beautifully engraved, featuring allegorical figures such as Justice, Liberty, and Commerce. The designs were very much in line with American style at the time, reflecting themes of progress, modernity, and democracy.
The Philippine National Bank Notes
In 1916, the Philippine National Bank (PNB) was established, and it began issuing its own currency. The designs prominently featured portraits of U.S. presidents, including George Washington and William McKinley. While this reinforced American authority, it also created tension among Filipinos who longed for greater representation of their own heroes and culture.
For collectors, the American-era notes are some of the most beautifully designed in Philippine history. The detailed engravings, the use of English inscriptions, and the influence of American artistry make them standout pieces in any collection.
Chapter 3: The Dark Days – Japanese Occupation Money
World War II brought chaos to the Philippines. When Japanese forces occupied the country in 1942, they issued their own version of Philippine banknotes. These were derogatorily called “Mickey Mouse money” by Filipinos, due to their poor quality and rapid inflation.
The Worthless Peso
At first, the notes were accepted under fear of Japanese military punishment. But as the war dragged on, the value of these banknotes plummeted. By 1944, it often required whole bundles of Mickey Mouse money to buy basic goods like rice, salt, or eggs.
Guerrilla Notes
In defiance of Japanese occupation, Filipino guerrilla fighters issued their own emergency notes. These guerrilla currencies were printed in secret, often using crude methods, but they carried powerful symbolism. They bore signatures of local leaders, seals of resistance groups, and messages of hope. Today, guerrilla banknotes are incredibly rare, highly collectible, and deeply respected as testaments of Filipino bravery and resilience.
Chapter 4: Independence and the Birth of the Philippine Republic’s Banknotes
The English Series (1949–1969)
After independence in 1946, the Central Bank of the Philippines issued its first banknotes. Known as the English Series, these notes were printed by Thomas De La Rue & Company in London. They bore English text and showcased a mix of national heroes, historical landmarks, and economic themes.
Notable figures included José Rizal, Andrés Bonifacio, and Apolinario Mabini. These banknotes reflected a new era of independence and national pride, even though English was still the dominant language used.
The Pilipino Series (1969–1973)
To promote Filipino identity, the government launched the Pilipino Series, the first to feature Filipino language inscriptions. Heroes like Manuel L. Quezon, Sergio Osmeña, and Diosdado Macapagal appeared, alongside cultural imagery such as traditional farming, education, and architecture.
This series marked a turning point where the Philippines embraced its own language and identity, leaving behind remnants of colonial influence.
The Ang Bagong Lipunan Series (1973–1985)
Under President Ferdinand Marcos, the Ang Bagong Lipunan (ABL) Series was introduced. These notes carried the ABL seal, symbolizing Marcos’ vision of a “New Society.” While they are often tied to political propaganda, the banknotes themselves are historically significant. They included familiar heroes like Rizal and Bonifacio, but were also associated with martial law.
Collectors today see the ABL series as both a reminder of authoritarian rule and a fascinating collectible from a turbulent period in Philippine history.
Chapter 5: Modern Banknotes and Hidden Symbolism
The New Design Series (1985–2010)
This series featured more modern designs, with portraits of heroes on the obverse and historical landmarks on the reverse. It was during this time that banknotes became more colorful and incorporated anti-counterfeiting features such as security threads and watermarks.
One of the most notable notes was the 500-peso bill, which featured Benigno “Ninoy” Aquino Jr., making it the first banknote to feature a modern political figure instead of a hero from the distant past.
The New Generation Currency Series (2010–Present)
The current series of banknotes, first issued in 2010, highlights both national heroes and the country’s natural wonders. The 1000-peso bill, for example, features the Tubbataha Reefs, South Sea Pearl, and the endangered Philippine eagle. This combination of cultural and environmental heritage makes the series uniquely Filipino.
Chapter 6: Stories Behind the Designs
Banknotes are not only about who is on the front; the back tells equally important stories.
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The 20-peso note once featured Malacañang Palace and the Banaue Rice Terraces, highlighting political power and agricultural heritage.
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The 50-peso note showed the First Philippine Assembly, symbolizing the birth of democracy.
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The 100-peso note displayed Mayon Volcano, an image of both natural beauty and power.
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The 500-peso note linked Ninoy Aquino’s portrait with a dove, symbolizing peace.
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The 1000-peso note honored World War II heroes—Jose Abad Santos, Vicente Lim, and Josefa Llanes Escoda—reminding Filipinos of sacrifice and patriotism.
Every design choice reflects a deliberate effort to teach history and promote national identity through currency.
Chapter 7: Collectibility and Rarity
For collectors, old banknotes are highly desirable. Some of the rarest and most valuable Philippine notes include:
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Revolutionary banknotes of Aguinaldo (1898)
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Guerrilla emergency notes from World War II
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Early Spanish–Filipino banknotes
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Error notes (misprints, inverted seals, missing colors, etc.)
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Limited commemorative issues
Value depends on rarity, historical context, and condition. Notes in uncirculated (UNC) condition are prized most, often fetching thousands of dollars in international auctions.
Chapter 8: Tips for Collectors
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Start Small – Begin with affordable notes from the 1970s or 1980s before moving to rare pieces.
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Learn Grading – Familiarize yourself with grading terms like UNC, VF (Very Fine), and G (Good).
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Preservation Matters – Store banknotes in acid-free sleeves and keep them away from humidity.
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Join Communities – Participate in online forums and coin-and-note clubs to learn from experienced collectors.
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Beware of Counterfeits – Fake notes circulate in the market; always authenticate through trusted dealers.
Conclusion
Old Filipino banknotes are more than just obsolete currency. They are fragments of the nation’s journey—from colonial rule, through revolutions, wars, and dictatorships, to independence and modern identity. Each banknote is a canvas where art, politics, and culture converge.
For Filipinos today, these banknotes remind us of resilience, identity, and the sacrifices of those who came before. For collectors, they represent hidden treasures worth preserving. Whether one holds a rare revolutionary note or a simple Ang Bagong Lipunan bill, each piece carries a story waiting to be told.
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