Cruz, Leyra R.

BSBA BLOCK 1-9

Readings in Philippine History

The Money Museum – Bangko Sentral ng Pilipinas

Museums are very important to us because museums hold the knowledge of cultural origins
and the meaning of societies' transformations. Filipinos owns lots of museums in the Philippines,
Filipinos taking care our ancestor’s property. The most famous museums in the Philippines are
located at Manila City one of these museums is the Money Museum at Bangko Sentral ng
Pilinas.

Within the complex of the Bangko Sentral ng Pilipinas, the nation's central monetary
authority, resides a numismatist's haven - the Museo ng Bangko Sentral ng Pilipinas. Inaugurated
on January 3, 1999, as part of the celebration of the 50 years of central banking in the
Philippines, the Museo showcases the Bank's collection of currencies. As repository and
custodian of the country's numismatic heritage, the Museo collects, studies and preserves coins,
paper notes, medals, artifacts and monetary items found in the Philippines during its different
historical periods. These collections have been placed on permanent display at the Museo.

BSP Money Museum isn’t just about money; it’s about shared memories preserved in the
artform of barter exchange, coins, and banknotes. BSP Money Museum showcases the evolution
of currency alongside Philippine economy and history. The exhibits are arranged chronologically
from the Pre-Hispanic Period, Spanish Period, and Revolutionary Period, up to the American
Regime, Japanese Occupation, and the present Republic. The highlights of the museum include
fashionable barter shells, gold pebbles (piloncitos), gold barter rings, vintage circus-designed
paper money, envelop-sized banknotes, and the silver dos mundos. The last is considered to be
one of the most beautiful and rarest coin in the world. Founded in 1999, the Money Museum is
owned and operated by the Central Bank of the Philippines, or Bangko Sentral ng Pilipinas.
Money Museum is divided into five galleries . here’s some photos and information about tokens,
bank notes, coins, artworks, gold artworks, money sculptures, medals etc.

The first part of the exhibit is the Pre-Hispanic Era

Long before the Spaniards came to the Philippines in 1521, the Filipinos had established trade
relations with neighboring lands like China, Java, Borneo, Thailand and other settlements.
Barter was a system of trading commonly practiced throughout the world and adopted by the
Philippines. The pre-Spanish (pre-Hispanic) gallery contains mostly gold and other artifacts
used by early Filipinos during the 9th to 13th centuries. Seafaring Filipinos used barter system as
a means of trading: exchanging fish and livestock for commodities such as rice, salt, fruits, and
vegetables. The Chinese traded items like jade, porcelain, silk, and metalware for Filipino
products like gold, pearls, beeswax, medicinal plants, and tropical hardwood. Other interesting
forms of payment or currency in the pre-Hispanic gallery include a miniature cannon used in
Borneo for barter and as wedding gift, and pressed tea bricks used by the Chinese for trade.

Most artifacts in the museum are stored in lighted, waist-high metal boxes with glass walls.
Mounted magnifying lenses are provided for easier viewing. There are adequate explanations in
English and Filipino to give each piece’s history and importance.

In exhibit visitors will see the gold pieces, among the items on display are cylindrical gold
beads and thin gold sheets with hammered designs. Pieces such these may have been used as
currency in trade transactions. Next is the porcelain token, in the 19th century porcelain gaming
counters bearing Chinese inscriptions and reckoned to be worth 2 annas and 4 annas were used
as money. The monopolists of gaming houses had the right to issue these counters andf they
were used by the people as small change. In the third photo is called the Jewelry money – hill
tribe of Thailand and the bracelet money.
 Tiger tongue money is made of base silver and copper. Value was variable from time to time
and place to place. Next is the tok money of NAN 1300-1800 this money was manufactured in
thick debased silver and colored from egg yolk and chicken blood. Last is the Chieng Money,
this was the standard type of coinage of the ancient kingdom iof Lanna in Thailand.

These are the bullet money, Ant Nose and Ancient Pu money which are the earliest bronze
coin of China grew out of actual articles that had been used as items of barter.

Next are the Tea Brick which is a precious commodity at one time, pressed bricks of tea
originated at China, the Korean Tree Money and the Crocodile Money, crocodile money is tin
ingots in the form of animals such as crocodiles, elephants etc. may have been intended for
magical ceremonies but eventually, it was accepted as currency.
 These are the Rooster Money, in the northern Malayan State of Kedah, the Cash Coins
and the Piloncitos, the small conical gold nuggets of 18 karat were the earliest recognized coins
of the ancient Filipinos.

Next is the Spanish Era 1521-1897

The cobs or macuquinas of colonial mints were the earliest coins brought in by the
galleons from Mexico and other Spanish colonies. These silver coins usually bore a cross on one
side and the Spanish royal coat-of-arms on the other.

The adjacent gallery features the earliest coins in gold, silver, and copper brought by the
Spanish to the Philippines. The first coin: toston or four reales silver coin, was introduced by
Ferdinand Magellan in 1521 and is one of the prized possessions of the Money Museum.

Details pertaining to the first minting plant in the country, Casa de la Modeda de Manila,
as well as the nation’s first commercial bank, El Baco Español Filipino de Isabel II, known today
as Bank of the Philippine Islands, give visitors a glimpse of how rich and deep money and
currency are intertwined to our history.

As the Philippines declared independence from Spain in 1898, the nation’s first president,
Gen. Emilio Aguinaldo, asked the Malolos Arsenal to produce the country’s own currencies:
two-centavo copper coins, and banknotes with 1, 2, 5, 10, 20, 25, 50, and 100 peso
denominations. To prevent counterfeiting, the banknotes were signed individually by three
influential members of the Malolos Congress: Pedro Paterno, Telesforo Chuidian, and Mariano
Limjap.

These are the cowry shells, it is once used in different parts

of the world as money. Eventually, cowry-shaped tokens made of
materials like quartz, wood, metal were substituted. This is the
example of cowry from Thailand.
 These are Gold, golds is highly valued material for coins.
On display are 18th to 19th century gold coins from various
Latin American countries.

And the third photo is the Kissi money ( 19th century , Liberia ).
Kissi refers to an ethnic community based in Guines Liberia and
Sierra Leone in West Africa. People in these areas mostly used
iron money because of the abundance of ore in the region. Kissi
money was used from the late 19th century until 20th century
when it was gradually replaced by colonial currencies.

Jewelries such as these necklaces were the pride of many upper class Filipinos of the 19th
century. Jewelry was a convenient way of holding wealth since it was portable and could be
easily sold in times of crisis and need.

In museum, visitors will see the ALFONSO XIII. In the late 19th century, coins were
melted down for billion value in violation of a government edict. This caused a shortage of coins
in circulation. To solve the problem, coins were minted in Spain for use in the Philippines. Six
million silver pesos dated 1897 were struck in Madrid Spain similar to the 5 peseta Spanish coins
bearing the bust of Alfonso XIII as a young boy but with the inscription “ISLAS FILIPINAS”
 In last photo these are the coins Barilla. Barilla was the first coin struck in the Philippines
as ordered by the Royalty of Spain. It bore the coat-at-arms of the City of Manila and the
inscription Ano de 172

These coins or reales is used in the Galleon Trade,Trade in the Philippines centered
around the “Manila galleons,” which sailed from Acapulco on the west coast of Mexico (New
Spain) with shipments of silver bullion and minted coin that were exchanged for return cargoes
of Chinese goods, mainly silk textiles and porcelain. There was no direct trade with Spain and
little exploitation of indigenous natural resources. Most investment was in the galleon trade. But,
as this trade thrived, another unwelcome element was introduced—sojourning Chinese
entrepreneurs and service providers.

These coins or the reales: ½ reales, 2 reales, 8 reales in Mexico and the 2 reales in Peru
in 1728 to 1733. And other reales from Bolivia and Guatemala.

Next in the exhibit is the Revolutionary Period (1898-1899) General Emilio Aguinaldo,
the first Philippine president, was vested with the authority to produce currencies under the
Malolos Constitution of 1898. At the Malolos arsenal, two types of two-centavo copper coins
were struck. Revolutionary banknotes were printed in denominations of 1,5 and 10 Pesos.

In exhibit visitors also see the money that Padre Paterno signed and earlier some province
had their own money such as the Palawan, Cagayan, Leyte etc.
 Next is the American Period (1900-1941) With the coming of the Americans 1898,
modern banking, currency and credit systems were instituted making the Philippines one of the
most prosperous countries in East Asia. The monetary system for the Philippines was based on
gold and pegged the Philippine peso to the American dollar at the ratio of 2:1. The US Congress
approved the Coinage Act for the Philippines in 1903.

These are the US-PH coinage and bank notes and the English Series such as one peso,
five peso, twenty peso, fifty peso, one hundred peso etc. in 1908 to 1920.

Next in the exhibit is the Japanese Occupation (1942-1945), The outbreak of World War
II caused serious disturbances in the Philippine monetary system. Two kinds of notes circulated
in the country during this period. The Japanese Occupation Forces issued war notes in big
denominations. Provinces and municipalities, on the other hand, issued their own guerrilla notes
or resistance currencies, most of which were sanctioned

Guerilla notes and Mickey Mouse money- The issuance of coins

and paper money by the First Republic of the Philippines solidified its
status as an independent nation with its own sovereign authority. Like the
country’s independence, the use of the Philippines’ first coins and paper
money were short-lived. It eventually gave way to US-Philippine notes
(American period), and Japanese Invasion Money and guerilla promissory
notes issued by different provinces during World War II.

Despite the funny-sounding name, the Japanese

Mickey Mouse money actually do look like appropriate
money. The first series (1942), in one, five, ten, fifty-
centavo, and one, five, and ten-peso bills look similar to
the current design of the US bills. The 1943 series
included a 100 peso bill featuring the Rizal Monument,
and by 1944, there were also 500 and 1000 peso bills
circulating due to inflation.
 Last is the Philippine Republic

A nation in command of its destiny is the message reflected in the evolution of Philippine
money under the Philippine Republic. Having gained independence from the United States
following the end of World War II, the country used as currency old treasury certificates
overprinted with the word "Victory".

With the establishment of the Central Bank of the Philippines in 1949, the first currencies
issued were the English series notes printed by the Thomas de la Rue & Co., Ltd. in England and
the coins minted at the US Bureau of Mint. The Filipinization of the Republic coins and paper
money began in the late 60's and is carried through to the present. In the 70's, the Ang Bagong
Lipunan (ABL) series notes were circulated, which were printed at the Security Printing Plant
starting 1978. A new wave of change swept through the Philippine coinage system with the flora
and fauna coins initially issued in 1983. These series featured national heroes and species of flora
and fauna. The new design series of banknotes issued in 1985 replaced the ABL series. Ten years
later, a new set of coins and notes were issued carrying the logo of the Bangko Sentral ng
Pilipinas.

As the repository and custodian of country's numismatic heritage, the Museo ng Bangko
Sentral ng Pilipinas collects, studies and preserves coins, paper notes, medals, artifacts and
monetary items found in the Philippines during the different historical periods. It features a
visual narration of the development of the Philippine economy parallel to the evolution of its
currency.

These are the Philippine’s first bank note, The earliest PH banknotes were issued in 1852
by the first bank established in the Philippines El Banco Filipino de Isabel II. On display are
facsimiles of rare handsigned 1852, 1896 notes and 1877 treasury notes. The first recorded
banknote were of deerskin used in the Western Han Dynasty in China. Paper money first
appeared in Tang Dynasty
The Rizal Tradition in PH Currency

Jose Rizal has been honored in the country's currency issues continuously from 1903 until
the present with the exception of the first two years of World War II. His portrait appeared on
what was then the lowest and most common paper bill the two peso silver bill certificate. The
first Rizal coin was the 1925 one peso coin minted for exclusive use in the Culion Leper Colony
in Palawan.

2000 piso Centennial Commemorative Notes- The bangko sentral ng Pilipinas launched the
2000 centennial notes on December 1 1998. Thr commemorative banknote bears the signature of
President Joseph Estrada.

100,000 piso Centennial Commemorative Note- this centennial note with a printing of only
1000 pieces and with the size of 8.5 x 14 inches, is so far the biggest legal tender note issued by
the Bangko Sentral ng Pilipinas

Visitors will also witness the different series of money, such as the English series, Filipino
series, Flora Fauna series and the Bagong Lipunan series.
 These are the old and new version of paper bills we’ve using as of now. BSP
displays at Money museum all the designs of the paper bills and coinage that Filipinos had. They
also treasured the designs of the banknotes and coinage and the process of how these money
created.

Aside from money and currency artifacts, coinage, banknotes, designs there are also a
number of paintings, sculpture etc. Money museum is one of the great museums in the
Philippines because it help Filipinos a lot to gain more knowledge and information about the
situation of our ancestors in how they use their money in the past. There’s only one such place in
the country where one can find a comprehensive and impressive collection of currency, coins,
tokens, paper money, and related objects it’s in the BSP The Money Museum.
READINGS IN PHILIPPINE
HISTORY

THE MONEY MUSEUM:

BANGKO SENTRAL NG
PILIPINAS

SUBMITTED BY:

CRUZ, LEYRA R.

BSBA BLOCK 1-9

SUBMITTED TO:

MR. HEHERSON MARAYAG