Tuesday, January 03, 2006

For The Numismatist In Us - 4


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Originally uploaded by avnerijr.
As you may imagine, the lower denomination coins were the ones quite in use, rapidly changing hands. Thus, the country also made use of the five centavo coin made of an alloy of nickel, and a large one centavo coin made of copper. There was also a half-centavo coin also made of copper.

For The Numismatist In Us - 3


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Originally uploaded by avnerijr.
The next one shows some of the coins made of silver that were issued during the American regime, in one peso, fifty centavo, twenty centavo, and ten centavo denominations. The unique characteristic about these coins was that emblazoned at the reverse side were the words: United States of America. On the obverse side you had the word Filipinas at the bottom. The others in the picture were issued when the country had already become a republic.

For The Numismatist In Us - 2


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Originally uploaded by avnerijr.
Spain’s reign of almost 400 years ended at the turn of the 20th century. And the second picture shows a couple of notes issued by the then Philippine National Bank with the face of Pres. McKinley. The third note is nothing more than the coupon-bond quality fractional notes quite common during the presidency of Ramon Magsaysay. They easily got mutilated and the quality of the printing was poor, very much like currency during the Japanese times.

It was not uncommon then to have banks print and issue currency. Bank of the Philippine Islands (then known as Banco de las Islas Filipinas) also printed currency during the Spanish times.

For The Numismatist In Us - 1


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Originally uploaded by avnerijr.
For you out there who are into numismatics, (and who is it who does not love money?), the case of the history of the Philippines may be a good study on how the “coin of the realm” evolves to its present forms, typically to forms that are not worth the paper or metal they are printed or minted on.

The Philippines underwent through the travails of being under two colonizers, one maybe considered despotic and the other maybe, benign.

The two countries involved were Spain and the United States.

Naturally, these two named countries circulated their own currencies in the islands, either as part of the realm and thus using the coins of the realm, or as a separate entity and thus, minting its own currency for its own purposes. The later was the case with the US.

Anyway, this first graphic shows what the typical native way back in the 1700s and 1800s may have been clutching in his/her hand on the way to market, typically made of silver and some copper. Imagine that large coin dated 1742 could have been held at some point in the breast pocket of a man of nobility assigned in the islands.