Philippine Peso Coins and Banknotes

Philippine Coins and Banknotes

100 Peso UP Centennial Notes

To commemorate the Centennial of the University of the Philippines (UP), the Bangko Sentral ng Pilipinas has issued 100-piso banknotes overprinted with the image of the UP Oblation. The Oblation is the iconic symbol of UP, represented by a man with arms wide-stretched and face facing up, symbolizing selfless offering of one's self to his country.

The UP Oblation overprinted on the watermark space to the right of President Manuel Acuña Roxas' portrait, symbolizes 100 years of "academic excellence, leadership and service to the nation" by "one of the most influential institutions" in the Philippines that is UP.

The overprint

The overprint is actually the silhouette of the Oblation surrounded by two concentric circles containing the words "University of the Philippines Centennial", and the years 1908 and 2008. The Oblation silhouette seems to have been ripped off from the design of the 100-peso UP silver proof coin issued in 1983 for UP's Diamond Jubilee.

The first time we learned about the planned overprinting of the Oblation, we made a prediction of how the overprint would look like. While the actual overprint is satisfactory, I was personally hoping they would just use the more presentable UP Centennial logo.

The folder that comes with a collectible series of the banknotes actually says "100-piso banknotes with the overprint of the UP Centennial 2008 logo". The actual overprint is definitely not the UP Centennial logo. Overprints, however, usually do not incorporate more than one level of black so the overprint above would have been more expensive to produce, hence the simplified design.

Buy these bills uncut, now!

The first batch of these overprinted banknotes are available for sale as a limited edition collector's item at the UP Administration Building (Quezon Hall) in UP Diliman, Quezon City, Philippines. Four uncut bills come with a protective folder and envelope for only P1,000 each.

Based on data gathered, only 10,000 sets of these 100 peso centennial notes will be issued so you better place your order now. Download the order form here.

If you need assistance in ordering these centennial notes, leave a comment below or in the chatbox on the right side of the page. Please forward this post to your friends who might also be interested.

50 Peso Coin - Pope John Paul II visit (1981)

50 Peso Commemorative Coin (1981)
Pope John Paul II visit to the Philippines

Obverse: Bust of Pope John Paul II, "Papa Juan Pablo II", "Pagdalaw ng Papa sa Pilipinas", 1981
Reverse: , "Lorenzo Ruiz Martir na Pilipino", "50 Piso", "Republika ng Pilipinas"

Material: Silver
27.5 grams
Diameter: 39.0 mm
Mintage: 10,000 pcs

*This post is sponsored by Frito Frio Fried Ice Cream

Gold in the 10 peso coin?

Word has been spreading that the current 10 peso coin bearing the 2000 and 2001 year mark contains gold. Specifically the inner disc of the coin is said to be worth between 10 to 14 karats, the reason why some people are hammering them out and casting them into "gold" rings.

I chanced upon a man selling some of these "gold" rings. He also presented the remains of a ten piso coin and claimed two coins are melted to create one ring. He was selling the ring for 100 pesos.

So is there gold in the current 10 peso coin?
I don't think so. According to the Bangko Sentral ng Pilipinas, the inner disc of the coin is made of an aluminum-bronze alloy (92% copper, 6% aluminum, 2% nickel).

The Bangko Sentral ng Pilipinas could not be senseless to put gold into millions of coins with a face value of only 10 pesos. It might look like gold, but it isn't necessarily gold.

Hammering out the core of the 10 peso coins is a violation of Article 164 of the Revised Penal Code (An Act Prohibiting and Penalizing Defacement, Mutilation, Tearing, Burning or Destruction of Central Bank Notes and Coins). Selling of these mutilated coins is a violation of Article 165.

Art. 164. Mutilation of coins; Importation and utterance of mutilated coins. — The penalty of prision correccional in its minimum period and a fine not to exceed P2,000 pesos shall be imposed upon any person who shall mutilate coins of the legal currency of the United States or of the Philippine Islands or import or utter mutilated current coins, or in connivance with mutilators or importers.

Art. 165. Selling of false or mutilated coin, without connivance. — The person who knowingly, although without the connivance mentioned in the preceding articles, shall possess false or mutilated coin with intent to utter the same, or shall actually utter such coin, shall suffer a penalty lower by one degree than that prescribed in said articles.