Coins of the Philippine peso
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Philippine peso coins are issued by the Bangko Sentral ng Pilipinas for circulation in the Philippines and are currently available in seven denominations.
[edit] History
The United States minted coins for the Philippines from 1903-1945. These coins came in ½ centavo (minted only 1903-1908 with 17.7 million coins; yet unpopular with public and so were discontinued), 1 centavo, 5 centavo, 10 centavo, 20 centavo, 50 centavo, and 1 peso varieties. The ½ and 1 centavo coins were bronze, the 5 centavo nickel, the 10, 20, 50 centavo and peso coins were silver. From 1903-1906, the silver coins had a high content (90% silver, also known as coin silver). The composition was reduced in 1907, due to a jump in silver prices. There was a fear that many of the coins would be melted down for their silver value (which came to pass at various times, especially the 1980s when silver topped $40/troy ounce).
The obverse of these coins remained unchanged over their entire run. They were designed by Melecio Figueroa. It has the denomination of the coin written on it, along with "Filipinas". The ½ centavo, 1 centavo, and 5 centavo coins all show a Filipino man kneeling against an anvil, with a hammer resting at his side. He is on the left side (foreground), while in the right side (background) there is a simmering volcano, Mt. Mayon, topped with smoke rings. This figure is an allegory for the hard work being done by the native peoples of the Philippines in building their own future.
The obverse of the 10, 20, 50 centavo, and peso coins are similar, but they show the figure of Liberty, a standing female figure (considered by many to be the daughter of the designer 'Blanca') in the act of striking the anvil with a hammer. This was done to show the work being done by Americans in building a better Philippines. Something can probably be read into racial attitudes at the time, since the coins show the Filipino man sitting down, and Liberty working. Also, Liberty (and by extension, America) appears on the silver coins, instead of the base metal coins.
The reverse of the coins comes in two varieties. The earliest coins were minted when the islands were a US Territory, and they bear the arms of the US Territories. This is a braodwinged eagle, sitting atop a shield divided into two registers. The upper register has 13 stars, and the lower register has 13 vertical stripes. The date appears at the bottom, and "United States of America" appears at the top.
When the islands became a US Commonwealth, the arms of the Commonwealth were adopted. 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". It is a much busier pattern, and widely considered less attractive.
These coins were minted at the Philadelphia, San Francisco, Denver, and (after it was opened in 1920) Manila mints. Most of the Manila mintages occurred after 1925. They have S, D, and M mint marks. Several proof sets were made for collectors, from 1903 to 1908. These were unpopular at the time, and many were later broken up and released into circulation. Some coins were minted in extremely small numbers (as few as 500 pieces occurred in 1905, 1906, & 1908). Also, many were lost when the defenders of Corregidor threw them into the ocean, rather than surrender the Philippine national treasury to the Japanese. Only about 80% were ever recovered, and many of those were badly corroded. However the rarest coins are the 1906-s peso with as few as 250 coins in existence; but the rarest is the 1910-s Ten Centavos with the only known coin which was on display at the Manila mint, being lost due to the bombing of Manila in 1945 as that the mint building was completely destroyed.
Three commemorative coins were minted to celebrate the Commonwealth in 1936. They show President Franklin D. Roosevelt, Commonwealth President Manuel L. Quezon and U.S. High Commissioner Frank Murphy, who also has served as the last Governor General of the Islands. The 50 centavo commemorative had only 20,000 minted, in 75% silver, and weighs 10 grams (the same specs as other 50 centavos). The two varieties of peso commemorative each had 10,000 minted. They weigh 20 grams, and are 90% silver.
Only the current series of coins (New BSP Series)) were legal tender as of January 2, 1997, when the Bangko Sentral issued BSP Circular No. 81 which called for the demonetization of all previous existing Central Bank coins minted before 1995.
Recently, fake 10- and 5-piso coins dating 2001 and 2002 have entered circulation. Because of this, the Bangko Sentral ng Pilipinas issued a warning and several security measures on importing and falsifying Philippine coins. And it is because the BSP has announced that there is an artificial shortage of coins last June of 2006. 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.
[edit] Circulating coins
| Philippine peso coins [1] | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Image | Value | Diameter | Weight | Composition | Edge | Obverse | Reverse | First Minted Year | |||
  |
1 sentimo | 15.5 mm | 2.0 g | 6% copper balanced steel |
Round/Plain | "1 SENTIMO", Year Mark | Logo of Bangko Sentral ng Pilipinas | 1995 | |||
  |
5 sentimo | 15.5 mm | 1.9 g | Round/Plain (with 4 mm central hole) |
"5 SENTIMO", Year Mark | Words "Bangko Sentral ng Pilipinas" along the border | |||||
  |
10 sentimo | 17.0 mm | 2.5 g | Round/Reeded | "10 SENTIMO", Year Mark | Logo of Bangko Sentral ng Pilipinas | |||||
  |
25 sentimo | 20.0 mm | 3.8 g | 65% copper 35% zinc |
Round/Plain | "25 SENTIMO", Year Mark | Logo of Bangko Sentral ng Pilipinas | 1995 | |||
  |
1 piso | 24.0 mm | 6.1 g | 75% copper 25% nickel |
Round/Reeded | Profile of Jose Rizal, Year Mark | Logo of Bangko Sentral ng Pilipinas | 1995 | |||
| 5.35 g | nickel plated steel | 2004 | |||||||||
  |
5 piso | 27.0 mm | 7.7 g | 70% copper 5.5% nickel 24.5% zinc |
Round/Plain (design bordered by 12-scallop) |
Profile of Emilio Aguinaldo, Year Mark | Logo of Bangko Sentral ng Pilipinas | 1995 | |||
  |
10 piso | 26.5 mm | 8.7 g | Ring: 75% copper 25% nickel Center: 92% copper 6% aluminum 2% nickel |
Round/Interrupted milled | Profiles of Andres Bonifacio and Apolinario Mabini, Year Mark | Logo of Bangko Sentral ng Pilipinas | 2000 | |||
[edit] External links
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