TL;DR The currency of the Philippines is the Philippine Peso (PHP).
Historical Context
The Philippine Peso has a rich history, influenced by various colonial powers. During the Spanish colonization, coins like the Spanish Philippines Peso were used [2]. Later, during the U.S. administration from 1903 to 1945, USPI (United States Philippine) coins became the standard currency
[3]. These coins were designed to cater to the local economy and establish a stable monetary system
[3:1].
Japanese Occupation Currency
During the Japanese occupation in the 1940s, the Philippines saw the circulation of "Mickey Mouse Money," which was infamous for its insignificant value due to hyperinflation [4]. This currency was considered comical and was often referred to as "funny money"
[4:3].
Modern Currency
Today, the Philippine Peso remains the official currency. The country has transitioned to polymer notes, with series featuring native animals and birds [5:1],
[5:3]. The polymer notes are part of efforts to modernize and secure the currency against counterfeiting.
Collectible Coins and Notes
Philippine currency, both historical and modern, is popular among collectors. Items like the 1897 Spanish Philippines Peso and the USPI coins are sought after for their historical significance and rarity [2:1],
[3:5]. Collectors can find these coins in antique shops and specialized stores across the Philippines
[4:2].
This Series is Called "English Series Notes" This Is The First Banknote to be Issued by the Banko Sentral ng Pilipinas (BSP) Formerly called Central Bank of The Philippines.
On the Left Side is The English Series while On the Right Side is the Current Us Dollar.
Pre Martial Law bank notes?
Yes. This was before Ferdinand Marcos Sr. decided to design new Banknotes Which were the Pilipino Series and Ang Bagong Lipunan Series (ABL)
And even until now, the US dollar bills from this picture still have the same value until now LOL, just thought the constant change of PH money bills is a waste of resources.
Nah... thats is the japanese money.. during the japanese occupation
No. The Japanese Money was More Simplified I will Post Japanese Invasion Money (JIM) later.
You missed out on the victory notes and earlier. Those looked like dollars tlga.
That’s not “exactly the same”. Maybe the phrase you were looking for is “similar to”?
Yes i was Lutang when i was making this post Hahahaaha
Nitpickers gonna nitpick. Lol
An 1897 Spanish Philippines Peso and a 1908 US Philippines Peso
The Spanish were the first Europeans to set foot in the Philippines in 1621 with the voyage of the explorer Ferdinand Magellan, who also died in battle while there against the Cebuano natives. Spanish colonization began in 1565, led by the Conquistador Miguel López de Legazpi. The islands were named after the Spanish King at the time, Philip II, and were administered under the Viceroyalty of New Spain (Mexico) until 1821, then governed directly from Madrid.
In June 1898, the First Republic of the Philippines declared independence. At this point, the Spanish were barely clinging to their empire and just had lost the Spanish-American war, where the Americans took Puerto Rico and Guam. As part of the Treaty of Paris which ended the Spanish–American War; Spain also ceded the Philippines to the U.S. for $20 million; the final attempt of the Spanish to “cash out” their investment in a colony they would not able to hold onto anyways.
Despite both sides having fought against the Spanish, with some limited cooperation, the Americans rejected the claims to independence of the new republic and crushed the independence movement, establishing a US military government to rule over the Philippines. The Philippines eventually got their independence in 1946 with the Treaty of Manila.
My US-Philippines peso is unfortunately the “small type” (35mm). I intend to seek out a “large type” (1898-1906; 38mm) sometime soon. Hopefully with some nice chopmarks.
Thats a pretty cool coin!. I love Spanish and American era Philippines coinage. I need to score one of those early Spanish Philippines coins.
1897 Alfonso XIII One Peso is one of the most beautiful coins out there😍
Add me on insta @magpie.coins, and I will follow back
I’d love to find a large type Philippine peso! They were struck in the us on Morgan planchets :) Hard coin to find though. Nice pieces you have there
Thank you! And yeah, hard to find (especially for a reasonable price)
USPI (United States Philippine) coins were the currency used in the Philippines during the period of U.S. administration, from 1903 to 1945. These coins, struck in pesos and centavos, were designed to cater to the Philippine economy and were part of a larger effort by the U.S. to establish a stable monetary system in the Philippines.
I currently have a wide collection of USPHI coins and I can’t get enough of it. Would you collect these?
1907-1910 comprises 50% of my collection while 1911-1945 is the other 40% of my collection. 10% of my collection is continental US and European coinage. It's very easy to find 1907-1910 especially the full peso coins. 1940s are primarily 10c-50c, and a lot of these are in great condition. I have a few coins that are from the 1800s but they're harder to come by in any decent condition. There's just something about being those 100+yr old coins that make me gravitate towards them.
You can check out my profile if you want to see my collection.
Btw, how did you take those pics? They're nice.
You have an outstanding collection that’s for sure. Its always nice to speak someone that like USPHI coins as well and of course to share and basically flex their collection. Regarding the photo, i took it using my phone and just zoomed it to reveal the details of the coin.
What background did you use and for the lighting?
Yeah it's not that common on Filipino subs, but from time to time you see a post featuring USPI coinage on the big coin subs. I wouldn't call it outstanding because they're mostly common coins but I did buy whatever was available if it was close to spot price at that time. It's more of a PM stack than a collection. There's really no method to my coin selection apart from what's available for sale at the time I am looking to buy.
Wow u have a great amount of collection so amazing. Inggit Ako...😜. Just teasing it made me happy.
Beginner lang po ako only been stacking for about 3-5yrs. Nung una paisa-isa lang bili ko tapos eventually dumami siya. Focus ako more on gold pag may spot price for sale at afford naman bibilhin ko yan. Pag silver usually bibili ako nyan kung wala pako gaano nung item
hm is the value of this? not really in mint condition?
It actually varies based on several factors, like its year of issue, condition, mintmark, and rarity. So it actually depends. The ones that I posted have “luster” which makes it more valuable.
U have a beautiful collection. Yes I would ofc. a fellow collector here. Where do u buy these?
I started my collection thru a facebook community about silver coins. I’m glad you like it. USPHI series is definitely my favorite.
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The Mickey Mouse money is a type of currency that was circulated in the Philippines during the Japanese occupation in the 1940’s. It was given the name “Mickey Mouse” due to its insignificant value that was caused by hyperinflation.
I am curious if there are still around, being kept as memorabilia or stuff
Look for CJ Coins and Antiques located in Furnitures section of Greenhills Mall. Been there several years ago. Not sure if the store still there though, but it has a wide variety of banknote and coins for sale.
There are also some in Ali Mall Cubao. Just look for Jem Antiques as well as Guiller Arts, Antique and Collectibles.
As for the Japanese notes, I do have a complete set, all bought from those stores i mentioned.
If i remember correctly, corregidor island sells memorabilia, not the real thing but at least its a copy upclose
Same here. Been looking at antique shops in Recto, Manila and found nothing. I found some in "Silahis", a souvenir shop inside Intramuros but one Mickey Mouse money paper bill costs P400 so I did not get one.
oof, yeah ,P400 for nothing.
I can also see the resemblance why use the monicker "Mickey Mouse" for satire's sake. During those days, the nature of Mickey Mouse is comical and due to wartime hyperinflation, the Peso is nothing more than a funny money; good for lighting coal.
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Thanks for sharing. I didn't know Philippines had a bird series. My Philippines collection has their Presidents/leaders only.
Are those animals/birds native to the Philippines?
yep
They are so beautiful! I have the 50, 100, and 500. Still need to get the 1000
Wanted to share some of my filipino paper (and polymer) money over time. It isn’t a complete set but theres some examples from most of the series - US Commonwealth to present.
bangis nung half pesos hahahaha.
Awesome and extensive collection! Handed down to you or did you hunt for them, specially those from the pre 60’s?
60s and up mostly given by family. Pre 60s mostly bought over the years.
Sad that new bank note’s doesn’t have our heroes faces.
🐐- 1973-85s
Very cool.
If anyone is curious, BPI at Santo Niño in Cebu has a little musseum with currency from pretty much the early colonial period until our days.
Gusto ko talaga makolekta yung ibang mga commemorative coins pero nakikita ko lang yung 150th. Pati din yun pahirapan mahanap.
Dapat lowest denomination ng coins natin is 1 peso na lang. Sayang lang pera sa pag mint ng less than 1 peso yung value since di naman sila nag cicirculate talaga.
Yes. O kaya lowest ay 25 sentimo, tapos round off to the nearest ₱ 0.25 na lang sa suma total unless digital payment method.
Kulang nalang murahin ako nung jeepney driver kasi puro 25 cents binigay ko hahah ay sayun ang laman ng wallet ko eh
Grocery stores: 😡
Parang ang hirap naman maghanap yan 1 cent na yn
Baka panukli sa SM
The way the just say "U.S. currency" sounds like it was just normal US currency.
Since the serial numberes were cancelled by Washington, it couldn't have been pesos, since those could be cancelled wholesale.
That’s what I was thinking. I thought maybe like Hawaii bills from the war time.
Those wouldn't be in the Philippines. It also mentions the serial numbers being on record, that wouldn't have been nessecary if they were Hawaii overprints.
The same idea with Hawaii notes and north Africa notes. If the enemy invaded they could take your cash so it was printed slightly different so it could be quickly demonetized.
That series was issued after the Philippines were retaken by the Allies. The prewar series didn't say "VICTORY" on the reverse.
That being said, the article is talking about US dollars, not pesos.
Makes sense. Thanks
Excellent story!
The 50 and 100 peso notes were the gift that I received from a Filipino guy that I met at the shop (He was really happy when he heard that I was also interested in Filipino banknotes!)
I like green turtle pic on kwd
you got lucky with the new ₱100 note !!
Just saw this now at one of BPI’s marketing emails, and this tells me that they’re now suggesting to use the foreign currency instead of Peso?
Isn’t it using PHP better than the other option? Any feedback would be appreciated!
Using the local currency of the country you are visiting impose lower fees, in this case, 1.58% rather than using PHP outright.
Best practice to choose the LOCAL currency of the country you're in (example HKD in HK). Rates are oftentimes cheaper that way.
OP, have you been using PHP abroad all this time?!
Exactly, and starting Feb 1, BPI will still charge 1% cross border fee kung PHP ang pinili mo currency abroad
Oh my bad, I realized I’ve been using the foreign currency all this time. Just got confused!
OP this is common knowledge for travellers. As a rule of thumb, you should always use the local currency of the country you are visiting. The PHP amount depicted in the terminal is more expensive than letting BPI/Visa/Mastercard do the conversion for you.
Edit: typo
what is the currency of the philippines
Key Information:
Takeaways:
Recommendation: When traveling to the Philippines, it's advisable to have some local currency on hand for small purchases, as not all places may accept credit cards. Additionally, familiarize yourself with the current exchange rate to ensure you get a fair deal when exchanging money.
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