Philippine five peso note

The Philippine five-peso note (Filipino: Limang Piso) (₱5) was a denomination of Philippine currency. Philippine president Emilio Aguinaldo is featured on the front side of the note, while the Declaration of the Philippine Independence is featured on the reverse side. This banknote was circulated until the Bangko Sentral ng Pilipinas stopped printing this denomination in 1996 (the last production year is 1995) and was replaced by coins.[1]

Five pesos
(Philippines)
Value5 pesos
Width160 mm
Height66 mm
Security featuresSecurity fibers, Watermark, See-through registration device, Concealed value, Security thread
Material used90% cotton
10% linen
Years of printing1896–1996
Obverse
DesignEmilio Aguinaldo, Philippine independence marker
DesignerRomeo Mananquil
Design date1985
Reverse
DesignDeclaration of Philippine independence
DesignerRomeo Mananquil
Design date1985

History

Pre-independence

Independence

Aguinaldo first appeared on the five peso bill upon the release of the New Design series notes in 1985.[9]

English series (1951–1967)

Features the portraits of Marcelo H. Del Pilar and Graciano Lopez-Jaena, two important figures of the Propaganda movement before the Philippine revolution, on the obverse. The reverse features the official newspaper of the propaganda movement, the La Solidaridad.[10]

Pilipino series (1967–1973)

In 1967, Andres Bonifacio replaced the portraits of Del Pilar and Lopez-Jaena. The note is now predominantly green in color. On the reverse, it now features the scenario of how to be a member of the Katipunan through signing a contract by their own blood. The design of the obverse was later revised, the font for the text Republika ng Pilipinas and Limang Piso was changed, the color of the portrait of Bonifacio was changed from brown to green and geometric lines were added on the sides and the watermark area of the bill. This design was later used when the Bagong Lipunan series was released in 1973.[11]

Pilipino series (1973–1985)

In 1973, the "Ang Bagong Lipunan" text was added and was overprinted on the watermark area.[12]

New Design series (1985–1996)

In 1985, the bill was completely redesigned and Emilio Aguinaldo replaced Bonifacio in this series.[9] The NHCP historical marker in the Barasoain Church (indicating the foundation of the First Philippine Republic, which Aguinaldo became its president) along with a cannon can be seen on the right side of the obverse. On the reverse, a scene from the Declaration of the Philippine Independence is featured. This was previously featured on the reverse of the Ang Bagong Lipunan series two peso banknote.[13]

After the creation of the "Bangko Sentral ng Pilipinas", its new logo was incorporated on all the New Design series bills in 1993.

In 1996, the printing of this banknote was stopped after the Bangko Sentral ng Pilipinas released the new ₱5 coin denomination that coincided the launching of the Improved Flora and Fauna series coins[14] and due to the release of the BSP series ₱5 coin one year earlier, in which the bills also included in this series from 1993 to 1996. Because of this, it is the only banknote in the New Design/BSP series that did not add a year mark at the bottom of the denomination value located at the upper left corner of the obverse since the year of production of a banknote was only added in 1998 (1997 for the ten peso banknotes), 1–2 years after the production of the five peso banknotes became obsolete. Existing banknotes remained legal tender and were demonetized[15] on December 29, 2017 after the release of the New Generation series banknotes in 2010.[16]

  • English series ₱5 note.
  • Pilipino series ₱5 note.
  • Ang Bagong Lipunan series ₱5 note.

Commemorative issues

Throughout its existence, the five peso bill was often overprinted to commemorate certain events, namely:

  • State visit of President Corazon Aquino to the United States of America: In 1986, Bangko Sentral ng Pilipinas released a commemorative banknote for the commemoration of state visit of President Corazon Aquino to the United States. The overprint features the seal of the Philippine President with the words "PAGDALAW NG PANGULONG CORAZON C. AQUINO SA AMERIKA" and the date "SET. 15-23, 1986" is displayed below.[17]
  • Canonization of Lorenzo Ruiz: The overprint features the first Filipino saint named San Lorenzo Ruiz with the words "KANONISASYON NG PINAGPALANG SAN LORENZO RUIZ" and the date "OKTUBRE 18, 1987".[18]
  • 40th anniversary of the Bangko Sentral ng Pilipinas: BSP released the overprint in commemoration of its 40th anniversary. It is printed in red, has the words "IKA-40 ANIBERSARYO" and "BANGKO SENTRAL NG PILIPINAS - 1949-1989" and features its building in Manila.[19]
  • Commemoration of Women's rights: The overprint features a portrait of a woman holding a Philippine flag and around it has the words "KABABAIHAN PARA SA KAUNLARAN - 1990".[20]
  • Plenary Council of the Philippines: Features a cross, the Philippine map on the lower-right corner of the circle, and the PX monogram. Around it are the words "UNITE ALL THINGS UNDER CHRIST (EPH 1:10)", "II PLENARY COUNCIL OF THE PHILIPPINES", and below it is the date "20 JANUARY TO 17 FEBRUARY 1991". This is the only time the overprint is in English language and the only commemorative banknote that features the signature of BSP governor Jose L. Cuisia, Jr.[21]
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References
  1. Montecillo, Paolo G. "Old peso bills going out of circulation". Retrieved 2018-10-26.
  2. Ide, Henry C. (1907). "Banking, Currency and Finance in the Philippine Islands". The Annals of the American Academy of Political and Social Science. 30: 27–37. doi:10.1177/000271620703000103. JSTOR 1010630.
  3. "Tracing PHL's story of money at the Bangko Sentral's Money Museum". GMA News Online. Retrieved 2018-10-26.
  4. "BPI museum traces history of banking in Philippines - MyCebu.ph: Cebu News & Features". mycebu.ph. 2011-09-11. Retrieved 2018-10-26.
  5. "History - Philippine National Bank". www.pnb.com.ph. Retrieved 2018-10-26.
  6. "Treasury of the Philippines 1936 5 Pesos Note: A Vision of U.S. Imperialism | PMG". www.pmgnotes.com. Retrieved 2018-10-26.
  7. "'Victory' notes - WWII Philippine Currency". www.guerrilla-money.com. Retrieved 2018-10-26.
  8. "WW II Allied Propaganda Banknotes". www.psywarrior.com. Retrieved 2018-10-26.
  9. "There's More to the New Five-Peso Coin Than Its Confusing Color". SPOT.PH. Retrieved 2018-10-26.
  10. "Bangko Sentral ng Pilipinas - BSP Notes and Coins - History of Philippine Currency - Demonetized Banknotes - English Series". www.bsp.gov.ph. Retrieved 2018-10-26.
  11. "Bangko Sentral ng Pilipinas - BSP Notes and Coins - History of Philippine Currency - Demonetized Banknotes - Pilipino Series". www.bsp.gov.ph. Retrieved 2018-10-26.
  12. "Bangko Sentral ng Pilipinas - BSP Notes and Coins - History of Philippine Currency - Demonetized Banknotes - Ang Bagong Lipunan Series". www.bsp.gov.ph. Retrieved 2018-10-26.
  13. "Bangko Sentral ng Pilipinas - BSP Notes and Coins - Currency in Circulation - New Design Series". www.bsp.gov.ph. Retrieved 2018-10-26.
  14. "Bangko Sentral ng Pilipinas - BSP Notes and Coins - History of Philippine Currency - Demonetized Coins - Improved Flora and Fauna Series". www.bsp.gov.ph. Retrieved 2018-10-26.
  15. News, ABS-CBN. "Bangko Sentral extends deadline to exchange demonetized notes". ABS-CBN News. Retrieved 2018-10-26.
  16. "Bangko Sentral ng Pilipinas - BSP Notes and Coins - Currency in Circulation - New Generation Currency". www.bsp.gov.ph. Retrieved 2018-10-26.
  17. "Welcome to Kolektado". Kolektado. Retrieved 2018-10-26.
  18. "St. Pedro Calungsod commemorative banknote out soon". Pinoy Numismatist Network. 2013-02-10. Retrieved 2018-10-26.
  19. "Philippine Banknotes: 1989 5 PISO Bangko Sentral 40th Anniversary". Barya at Perang Papel. 2015-02-02. Retrieved 2018-10-26.
  20. "Philippine Banknote: 1990 5 PISO Kababaihan Para Sa Kaunlaran Overprint". Barya at Perang Papel. 2015-02-26. Retrieved 2018-10-26.
  21. "Philippine Banknotes: 1991 5 PISO Second Plenary Council of the Philippines". Barya at Perang Papel. 2015-01-27. Retrieved 2018-10-26.
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