PHILIPPINE BANKNOTES - Philippine Peso

JAPANESE MONEY WW2
(credit to wikipedia.org)


During World War II in the Philippines, the occupying Japanese government-issued fiat currency in several denominations; this is known as the Japanese government-issued Philippine fiat peso

The Second Philippine Republic under President José P. Laurel outlawed possession of guerrilla currency, and declared a monopoly on the issuance of money, so that anyone found to possess guerrilla notes could be arrested or even executed.

Some Filipinos called the fiat peso "Mickey Mouse money". Many survivors of the war the stories of going to the market laden with suitcases or "bayóng"overflowing with the Japanese-issued bills. According to one witness, 75 "Mickey Mouse" pesos, or about 35 U.S. dollars at that time, could buy one duck egg. In 1944, a box of matches cost more than 100 Mickey Mouse pesos.

These bills were often used by American psychological warfare personnel as propaganda leaflets. Japanese occupation banknotes were overprinted with the words "The Co-prosperity Sphere: What is it worth?", in an attempt to discredit the Greater East Asia Co-Prosperity Sphere, and dropped from Allied aircraft over the occupied territories.

On October 15, 1943, General MacArthur requested reproduction of 10 million Pesos (P10,000,000) of Japanese occupation currency in 10 Pesos, 5 Pesos, 1 Peso and 50 Cenatvo. The first million was counterfeited in Washington D. C. and flown to the Philippines on December 21, 1943. They were distributed to six guerrilla groups. The American forgeries are known to have the following block letter codes:
50 Centavo bills - PA, PB, PE, PF, PG, PH and PI
1 Peso bills - PH
5 Peso bills - PD
10 Peso bills - PA, PB, and PC.

Why they called the money "Mickey Mouse Money"?

"Mickey Mouse" money - Philippine currency during the Japanese WWII occupation. Called such because they were practically worthless after the war, like play money.

1942 issue of the Japanese government-issued Philippine peso

1943–45 series

A new series of notes in denominations of 1, 5, and 10 pesos were issued in 1943. Hyperinflation had also forced the Japanese to issue notes for 100, 500, and 1000 pesos in 1944.

VICTORY - CENTRAL BANK OF THE PHILIPPINES
Banknotes

The banknotes first issued by today's Bangko Sentral ng Pilipinas (formerly the "Central Bank of the Philippines") were the VICTORY-CBP Overprints in 1949, which were merely overprints of older American-era banknotes. The first official banknote series to be printed were the English Series in 1951.

ENGLISH SERIES

The English Series were Philippine banknotes that circulated from 1949 to 1969. It was the only banknote series of the Philippine peso to use English as the language.

(photo credit to numismatics.ph)

PILIPINO SERIES


The Pilipino Series banknotes is the name used to refer to Philippine banknotes issued by the Central Bank of the Philippines from 1969 to 1977, during the term of President Ferdinand Marcos. It was succeeded by the Ang Bagong Lipunan Series of banknotes, to which it shared a similar design. The lowest denomination of the series is 1-piso and the highest is 100-piso.

This series represented a radical change from the English series. The bills underwent Filipinization and a design change.

ANG BAGONG LIPUNAN SERIES


The Ang Bagong Lipunan Series (literally, ”The New Society Series") is the name used to refer to Philippine banknotes issued by the Central Bank of the Philippines from 1978 to 1985. It was succeeded by the New Design Series of banknotes. The lowest denomination of the series is 2-piso and the highest is 100-piso.

After the declaration of Proclamation № 1081 by President Ferdinand Marcos on September 23, 1972, the Central Bank was to demonetize the English Series banknotes in 1974, pursuant to Presidential Decree 378. All the unissued Pilipino Series banknotes (except the one peso banknote) were sent back to the De La Rue plant in London for overprinting the watermark area with the words "ANG BAGONG LIPUNAN" and oval geometric safety design. The one peso bill was replaced with the two peso bill, which features the same elements of the demonetized Pilipino series one peso bill.

On September 7, 1978, the Security Printing Plant in Quezon City was inaugurated to produce the banknotes.

The banknotes were still legal tender even after the introduction of the New Design Series banknotes, however it is seldom used after the EDSA Revolution. The banknotes were eventually demonetized on February 2, 1996 (but can still be exchange with legal tender currency to the Central Bank until February 1, 1996) after clamors that the banknotes can be used to buy votes for the 1992 Presidential Elections.

NEW DESIGN SERIES(NDS)/ BSP SERIES


The New Design Series had less security features. (only the visible fibers, value panel, security thread and watermark.)

On July 8, 2009, the BSP announced that it would recall all bank notes made of abaca cotton soon and replace it with an all-polymer series. However, this is still in the planning stage, with no specific date set for printing and replacements.

The BSP Series added more security features such as another glossy security thread, iridescent strip, fluorescent printing, optically variable ink, and microprints.

These banknotes were legal tender alongside the New Generation Currency series until the end of 2015, when the New Generation Currency series became a single circulating set.The New Design/BSP series ceased to be legal tender on June 30, 2017 and were phased out on December 29, 2017.

The Order of Lakandula Medal and the phrase “Medal of Honor” were removed on the obverse side of the ₱1000 banknote

NEW GENERATION CURRENCY SERIES(NGC)


The New Generation Currency series will be the only circulating set of notes by December 30, 2017.

In 2017, the BSP updated the design of the NGC series banknotes with the following changes:

Replacing the signature of BSP governor Amando Tetangco Jr. to its newly appointed governor Nestor Espenilla Jr. (all banknotes)

Enlarged the font size of the year of issue (all banknotes)

Italicization of the scientific names on the reverse (all banknotes)

Replaced the images of the Aguinaldo Shrine and the Barasoain Church on the obverse side of the ₱200 banknote with scenes of the Declaration of Philippine Independence and the opening of the Malolos Congress respectively.

The text "October 1944" was added after the word "Leyte Landing" at the obverse of the ₱50 banknote

Philippine Centennial led by Fidel V. Ramos (Reverse side of the commemorative 2000 peso bill)

New Generation Currency Series (2010-present)


1000-piso New Generation Currency Banknote

Obverse :José Abad Santos, Vicente Lim, Josefa Llanes Escoda
Reverse :Tubbataha Reefs Natural Park in Sulu Sea; Pinctada maxima, South Sea Pearl; Mindanao design for Tinalak (Ikat-dyed abaca)
Color :Blue
Description :The portrait of Abad Santos, Lim and Escoda were revised, a scene from the Centennial celebration of Philippine independence was added on the lower left. The reverse now features the Tubbataha Reefs Natural Park and the South Sea Pearl.


500-piso New Generation Currency Banknote
Obverse :Corazon C. Aquino, Benigno S. Aquino, Jr., EDSA People Power I, Benigno Aquino monument in Makati City
Reverse : Subterranean Underground River in Puerto Princesa, Palawan; Tanygnathus lucionensis, Blue-Naped Parrot; Southern Philippines cloth design

Color :Yellow
Description :The portrait of Benigno Aquino, Jr. was redesigned and a portrait of his wife, former president Corazon Aquino, was added, a scene from the EDSA Revolution was added on the lower left of the obverse and the Ninoy Aquino Monument was added in the lower middle. The reverse now features the Puerto Princesa Subterranean River National Park and the Blue-Naped Parrot.

200-piso New Generation Currency Banknote
Obverse :Diosdado P. Macapagal, EDSA People Power 2001, Aguinaldo Shrine in Kawit, Cavite, Barasoain Church in Malolos, Bulacan
Reverse :Chocolate Hills in Bohol; Tarsius syrichta, Philippine Tarsier; Visayas weave design
Color :Green
Description :The portrait of Diosdado Macapagal was revised, the Arroyo oathtaking was moved from the reverse to the lower left of the obverse with the Aguinaldo Shrine at the background and the Barasoain Church was added on the lower middle. The reverse now features the Chocolate Hills and the Philippine Tarsier.


100-piso New Generation Currency Banknote
Obverse :Manuel A. Roxas, Old BSP building in Intramuros, Manila, Inauguration of the Third Philippine Republic
Reverse :Mayon Volcano in Albay; Butanding, Rhincodon typus, whale shark; Bicol textile design
Color :Violet
Description :The portrait of Manuel Roxas was redesigned, a picture of the old Central Bank building and the inauguration of the Republic of the Philippines was added on the lower left corner and bottom center of the bill respectively. The reverse now features the Mayon Volcano and the whale shark.


50-piso New Generation Currency Banknote

Obverse :Sergio Osmeña, First Philippine Assembly, Leyte Landing
Reverse : Taal Lake in Batangas; Catanx ignobilis, Maliputo (Giant trevally); Batangas embroidery design
Color :Red
Description :The portrait of Sergio Osmeña was revised, a picture of the first Philippine Assembly and Osmeña and General Douglas MacArthur's landing in Leyte was added on the lower left corner and bottom center of the bill respectively. The reverse now features the Taal Lake and the giant trevally.

20-piso New Generation Currency Banknote
Obverse :Manuel L. Quezon, Declaration of Filipino as the national language, Malacañan Palace
Reverse : Banaue Rice Terraces; Paradoxurus hermaphroditus philippinensis, Palm Civet; Cordilleras weave design
Color :Orange
Description :The portrait of Manuel Quezon was revised, the Malacañan Palace was moved from the reverse to the bottom center of the obverse. The reverse now features the Banaue Rice Terraces and the Palm Civet.