New color of 100 peso bill

Top: Original colors of 100 peso banknote. Bottom: New banknote with light purple (mauve) color.

Some of you might have already noticed new one hundred peso banknotes with a different shade of purple. Don't worry, it's not fake.

Last month the Bangko Sentral ng Pilipinas started issuing new 100 beso bills with a pale purple (mauve) color. This was to address complaints that the 100 peso notes looked very similar to the 1000 peso bills.

New Generation Banknote Designs Released!

Finally! The Bangko Sentral ng Pilipinas has released the New Generation designs of Philippine banknotes including the new 500 peso bill with both Ninoy and Cory. Here they are!

New Generation 20 Peso Banknote

New Generation 50 Peso Banknote

New Generation 100 Peso Banknote

New Generation 200 Peso Banknote

New Generation 500 Peso Banknote

New Generation 1000 Peso Banknote

So what's new with these banknotes?

• More realistic portraits of former Philippine presidents and heroes
• Tourist destinations and notable animals found in the country on the reverse
  
• New BSP logo and Republic of the Philippines Seal
• New euro-like design with large numbers for easy identification.
  
• Security features are spruced most noticeably the serial numbers which some might find weird and the security thread which is wider. A foil-like optically variable device is found in the new 500 and 1,000 peso bills.
  
• The paper used is "hygienically treated" or has anti-bacterial properties.

What's the same?

• Color schemes were maintained except for the 20 peso bill which I think has a different tone of orange.
• The size of all banknotes appear to have been maintained.
  
• The same paper made of abaca-cotton. The BSP considered plastic/polymer before but they might have foreseen some problems with that especially with the way Filipinos crumple, fold, crease, and roll money.

Expect the new 20 and 50 peso bills next week in time for the Christmas! The rest will probably follow next year. Don't worry, the old designs will still be valid for the next three years.

New 1000 Peso Bill - New Generation Banknotes

One Thousand Piso Banknote

New Generation Series

Obverse: War Heroes - Josefa Llanes Escoda, Vicente P. Lim, and Jose Abad Santos; Centennial of Philippine Independence (1998); Medal of Honor; Seal of the Republic of the Philippines; and the New BSP Seal
Reverse: Tubbataha Reefs Natural Park (UNESCO World Heritage Site); South Sea Pearl (Pinctada maxima), Tinalak or Ikat-dyed abaca woven in Mindanao in Southern Philippines
Security Features: (1) embossed prints, (2) serial number, (3) security fibers, (4) watermark, (5) see-through mark, (6) concealed value, (7) security thread, (8) optically variable device, (9) optically variable ink

War Heroes
Josefa Llanes Escoda (20 September 1898-January 1945) is a social worker, educator, advocate of women's right to vote; founder of the Girl Scouts of the Philippines and newspaper editor. She showed extraordinary courage by continuing to help prisoners of war during the Japanese Occupation. For this, she and her husband Antonio were killed before the end of the war.

Brigadier General Vicente P. Lim (24 February 1888 - 31 December 1944) was the first Filipino West Point graduate and rose to the rank of Chief of Staff of the Philippine Army. Initially wounded in action, he directed guerrilla activities from his hospital bed during the World War II. He was eventually captured and died in the hands of the Japanese. For his military service, he received the Legion of Merit and the Purple Heart.

Jose Abad Santos (19 February 1886 - 2 May 1942) was the Chief Justice of the Philippine Supreme Court. He completed his Bachelor of Laws degree in Northwestern University and Masters of Laws from Georgetown University as a scholar. He was executed for refusing to cooperate with the Japanese forces. Informed of his impending execution, he told his son ho had been captured with him: "It is a rare opportunity to die for one's country."

The 130,000 hectare Tubattaha Reef Marine Park in Sulu Sea is one of the Philippines' oldest ecosystems. It is home to a great diversity of marine life: whales, dolphins, sharks, and turtles are among the key species found here. The reef ecosystem supports over 350 species of coral and almost 500 species of fish. Declared as a UNESCO World Heritage Site, it plays a key role in the reproduction, dispersal, and colonization by marine organisms in the whole Sulu Sea system and in helping support fisheries outside its boundaries. It is a natural laboratory for studying ecological and biological processes, displaying process of coral reef formation, and supporting marine species dependent on reef ecosystems. The presence of tiger and hammerhead sharks, which are top predator species, indicates the ecological balance of the property.
South Sea Pearls - Sulu Sea is part of the South Seas, which are the natural habitat of oysters that produce the largest pearls grown in the world - the Pinctada maxima. The colors of these treasures from the sea range from white to silver and golden.

New 200 Peso Bill - New Generation Banknotes

Two Hundred Piso Banknote
New Generation Series

Obverse: President Diosdado P. Macapagal; EDSA People Power II (January 2001); Independence House; Barasoain Church; Seal of the Republic of the Philippines; and the New BSP Seal
Reverse: Bohol Chocolate Hills; Tarsier (Tarsius syrichta); handcrafted design from the Visayas in Central Philippines
Security Features: (1) embossed prints, (2) serial number, (3) security fibers, (4) watermark, (5) see-through mark, (6) concealed value, (7) security thread

President Diosdado P. Macapagal (28 September 1910 - 21 April 1997) is known for his land reform and socio-economic agenda that started the process of economic liberalization and the shift to a market economy in the Philippines. He moved the celebration of Philippine independence from 4 July 1946 to 12 June 1898 when General Emilio Aguinaldo declared independence from Spanish colonial rule and, in the process, made the Philippines Asia's first republic. Barasoain Church in Malolos Bulacan was the venue for the inauguration of the First Philippine Republic. Aguinaldo's home in Cavite is now called the Independence House.

President Diosdado Macapagal is the father of President Gloria Macapagal-Arroyo who assumed office as a result of the EDSA People Power II in January 2001.

The famous Chocolate Hills of Bohol are verdant green mounds during the rainy season that turn chocolate brown at the end of the dry season. Numbering about 1,268 hills, they rise to 30 to 50 meters.

The Philippine tarsier is described as one of the world's smallest primates; it can fit comfortably in one's hands. It can be found in Bohol and in Samar, Leyte, and Mindanao.

New 100 Peso Bill - New Generation Banknotes

One Hundred Piso Banknote
New Generation Series

Obverse: President Manuel A. Roxas; Central Bank of the Philippines (1949); Inauguration of the Third Republic (4 July 1946); Seal of the Republic of the Philippines; and the New BSP Seal
Reverse: Mayon Volcano; Whale Shark (Rhincodon typus); Indigenous textile from the Bicol Region
Security Features: (1) embossed prints, (2) serial number, (3) security fibers, (4) watermark, (5) see-through mark, (6) concealed value, (7) security thread

President Manuel A. Roxas (1 January 1892 - 15 April 1948) took his oath of office on 4 July 1946 as the first president of the Third Philippine Republic, when the United States recognized the independence of the Republic of the Philippines. Having inherited a nation in the ruins of World War II, he set in motion the crafting of the first Master Economic Plan, the first known in developing Asia, which started the country on the road to reconstruction and development. He thus earned the title "Nation Builder." A Philippine Bar topnotcher, he had a lifelong career as public servant. He was 27 when he became Governor of the Province of Capiz, the country's youngest, and was Speaker of the House for 12 consecutive years. One of his priorities was the drafting of a charter for a central bank, which he deemed as a step towards sovereignty. However, he did not complete his term due to a fatal heart attack. Shortly after his death, his successor President Elpidio Quirino signed Republic Act 265 or the Central Bank Act in June 1948. On 3 January 1949, the Central Bank of the Philippines opened for business.

The Bicol Region is famous for majestic Mayon Volcano, the country's most active which has a near perfect cone. It is in Legazpi City, Albay.

The "butanding" or whale shark, the world's largest living fish, is the main attraction in Donsol, Sorsogon. These gentle giants regularly visit the waters of Sorsogon to mate and to feed on plankton abundant in Donsol River.

New 50 Peso Bill - New Generation Banknotes

Fifty Piso Banknote

New Generation Series

Obverse: President Sergio Osmeña; First National Assembly 1907; Leyte Landing; Seal of the Republic of the Philippines; and the New BSP Seal
Reverse: Taal Lake; Maliputo (Caranx ignobilis); embroidery design handcrafted in Batangas province
Security Features: (1) embossed prints, (2) serial number, (3) security fibers, (4) watermark, (5) see-through mark, (6) concealed value, (7) security thread

President Sergio Osmeña (9 September 1878 - 19 October 1961) is the president who led the Philippines during the critical stage nearing the end of World War II and in the transition as an independent nation. He was vice president when President Manuel Quezon passed away and was with the liberation forces led by US General Douglas McArthur in 1944, an event immortalized at a landmark monument known as the "Leyte Landing" at Palo beach in central Philippines. It was during his term when the Philippines joined the United Nations, the International Monetary Fund, and the International Bank for Reconstruction and Development (World Bank)

Taal Lake in Batangas is the deepest freshwater lake in the Philippines. It is also host to active Taal Volcano, the world's smallest volcano.

The Giant Trevally, locally known as Maliputo, a delicious milky fish, thrives only in the waters of the lake. Taal Lake is also the only home of tawilis, the world's only freshwater sardine.

New 20 Peso Bill - New Generation Banknotes

Twenty Piso Banknote
New Generation Series

Obverse: President Manuel L. Quezon; Filipino as National Language (1935); Malacañan Palace; Seal of the Republic of the Philippines; New BSP Seal
Reverse: Banaue Rice Terraces (UNESCO World Heritage Site); Palm Civet (Paradoxurus hermaphroditus philippinensis), Weave design from the Cordilleras
Security Features: (1) embossed prints, (2) serial number, (3) security fibers, (4) watermark, (5) see-through mark, (6) concealed value, (7) security thread

President Manuel L. Quezon (19 August 1978 - 1 August 1940)
Popularly known as the "Father of the National Language," Manuel L. Quezon is the second president of the Philippines and the first to be elected through a national election. He worked tirelessly to gain recognition for the Philippines as an independent nation. During his term, a national language for the Philippines was adopted and Filipino women were given the right to vote. Quezon is the first Filipino president to hold office in Malacañan Palace by the Pasig River in Manila.

The Banaue Rice Terraces in Northern Philippines were carved out of the mountains of the Cotrdilleras around 2,000 years ago by Filipino ancestors using simpe tools. Breathtaking for its high altitude, steep slopes and area covered, the Banaue Rice Terraces showcases a mastery of engineering that is appreciated to the present. It has been declared a World Heritage Site by the United Nations.

The palm civets in the Cordilleras are famous for producing one of the best and expensive coffee varieties in the world - Coffee Alamid. The coffee beans that they eat, partially digest, and released as droppings are prized for their flavor and aroma.

New generation banknotes to be released next year

[Update: New Generation Philippine Banknotes released]

Screen grabs from GMA-7 news report shoowing 1000 peso bill designs with jeepney and tarsier. I don't know if these are some of the proposed designs or simply displays at the Money Museum.

GMA-7 news reported on the plan of the Bangko Sentral ng Pilipinas (BSP) to redesign all Philippine banknotes last November 10.

In an interview, Mr. Diwa Guinigundo, Deputy Governor of BSP, revealed they plan to release the redesigned notes by the last quarter of 2010. A redesigned set of coins will be released thereafter.

The overhaul of the Philippine peso bills was initiated since the design of Philippine money has been practically the same for over 20 years now. The plan is also seen as a measure to stay ahead of counterfeiters. The National Historical Institute (NHI) has no objections.

While the planned designs are not final yet, the Monetary Board is considering the following options:

• former presidents (Cory Aquino?)
  
• people who have given prestige to the Philippines (Manny Pacquiao? LOL)
  
• endemic animals (Tarsier?)
  
• historic and beautiful places (Tubattaha Reef, Subterranean River?)

Let's discuss each of these in detail sometime.

Redesigned Philippine Banknotes

The Bangko Sentral ng Pilipinas (BSP) is currently in the process of redesigning all Philippine banknotes which have hardly changed over the past two decades. However, a 21-year old designer from Pennsylvania went ahead of BSP and created interesting new Philippine Peso banknote designs which serves well as an appetizer for the real ones to come. I think this serves well also as a challenge for the Philippine central bank to be very creative in making radically new money.

In his blog, Ryan Riegner echoes my appreciation for banknote design. He also explains why he chose to play around with redesigning the Philippine peso.

Paper currency, regardless of it’s technical beauty, elegant craftsmanship and saturation into everyday life, it is one of the most commonly overlooked aspects of remarkable design… so I chose to redesign some. I decided to go with the Philippine peso, as I will be traveling to Australia and Southeast Asia this winter. I chose to focus primarily on applying governmental requirements, specific imagery, color, and form relative to the Philippines that showcased both internal and external associations with this island nation, and I am more than pleased with the result. I plan to distribute them to locals, possibly as trade if and when I arrive.

P100 bill features Melchora Aquino

P500 bill features Marcelo H. del Pilar

P2000 bill features Lapu-lapu (I think)

Ryan's three designs (100, 500, 2000 denominations) have the look of polymer notes which the BSP is also considering. However, there are some glitches in the spelling such as "Republica" instead of "Republika." The 100-peso notes are also wrongly indicated as "sandaang libong piso" (100,000) instead of "sandaang piso" while the 50-peso notes are "limang piso" (5) where they should be "limandaang piso." Nevertheless the relatively 'simple' designs are very interesting.

We do hope the BSP will open the redesigning of Philippine currency to all Filipinos in some sort of art contest. How about you? How do you want Philippine money to look like?

BSP to redesign all Philippine banknotes and coins

[UPDATE: New Generation Philippine Banknote Series Released!]

Wonderful news for all numismatists! The Bangko Sentral ng Pilipinas (BSP) has hinted that they will be redesigning all Philippine banknotes over the next two years and eventually redesign all the coins also. News is that BSP Governor Amando Tetangco Jr. supports the inclusion of late former president Corazon "Cory" Aquino in what will be the redesigned P500 bill. (So with the BSP governor's support, what will stop them?) It is not clear, however, if Cory will be together with Ninoy or they will find themselves on separate bills.

The "new-generation currency notes," which will have totally new looks. will be released one at a time in a span of about two years starting next year. (That will sure be an exciting 2 years for banknote collectors and the rest of the Filipinos!) The BSP has already started the redesigning process to come up with the new banknotes that will have better security features to further deter counterfeiting. They are also considering the use of polymer (plastic) notes such as the ones used in Australia but they are still considering the pros and cons. The BSP also wants to continue supporting the local abaca industry. (Current notes are 20% abaca, 80% cotton.

The current set of Philippine banknotes was first issued in 1985 starting with the 5 peso bill. They were slightly redesigned in 1993 (new BSP logo) and 2001 (year-mark and new security features).

It is also possible that the BSP will be issuing new denominations although I cannot imagine what denomination it would be. A P2000 or P5000 bill?

According to BSP Deputy Governor Amando Suratos, they will eventually redesign the coins also. The current design of Philippine coins was first released in 1995.

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