Philippines 1 Peso Banknotes and Coins Explained

The 1 Peso banknote is the most widely used denomination in the Philippines, making up a significant portion of the country's circulating currency.

It's not surprising, given that the 1 Peso banknote is the smallest denomination, making it an essential tool for everyday transactions.

The 1 Peso coin, on the other hand, is a more recent addition to the country's currency, introduced in 2000 as part of a broader effort to increase the use of coins in everyday transactions.

The 1 Peso coin is made of a copper-plated steel alloy and features a unique design that sets it apart from other coins in circulation.

The 1 Peso English Series Banknote was printed in several variations between 1951 and 1968. A total of 15 million regular issue banknotes were printed with serial numbers ranging from A000001 to Q1000000.

These banknotes were issued by the Central Bank of the Philippines and were fully guaranteed by the Government of the Republic of the Philippines. They were also considered legal tender for all debts, public and private.

Here's a breakdown of the total printed banknotes for each variety:

Note that the total printed banknotes for each variety include replacement notes.

The 1 Peso English Series Banknote was printed in several batches between 1951 and 1968. A total of 15,000,000 regular issue notes were printed in the first batch, with serial numbers ranging from A000001 to Q1000000.

The serial numbers on the regular issue notes in this batch were quite specific, starting from A000001 and going up to Q1000000. Replacement notes were also printed, but their serial numbers are not specified.

In the second batch, 45,000,000 regular issue notes were printed, with serial numbers ranging from R000001 to BM1000000. This is a significant increase in the number of notes printed compared to the first batch.

Here's a breakdown of the total printed numbers and serial numbers for each batch:

The fifth batch is notable for having the highest total printed number, with 175,150,000 regular issue notes.

The obverse of the 1 Peso banknote is where you'll find the official language and denomination of the note. The lettering "REPUBLIKA NG PILIPINAS" translates to "Republic of the Philippines".

You'll also notice the year "2014" printed on the note, indicating the year it was issued. The denomination "1" is a clear indication of the note's value.

The obverse also features the image of Jose Rizal, a national hero in the Philippines.

The Philippine peso has a rich history that dates back to the 16th century. It's derived from the Spanish peso or pieces of eight brought over by the Manila galleons.

The first Spanish dollar, or silver peso, was introduced by the Magellan expedition in 1521. This coin was worth eight reales and was later replaced by machine-minted coins called Columnarios in 1732.

These crudely-made coins were valued at 27.07 grams of 0.917 fine silver and were later revised to 0.903 fine in 1771. The absence of officially minted coins was alleviated by counterfeit two-cuarto coins made by Igorot copper miners in the Cordilleras.

Money was scarce in Manila, and when it was abundant, it was shipped to the provinces or exported abroad. An 1857 decree requiring the keeping of accounts in pesos and céntimos was of little help to the situation given the existence of copper cuartos worth 1⁄160 of a peso.

The term "pera" has a fanciful etymology, but it's more likely derived from the Spanish coins of 10 and 5 céntimos de peseta, which were nicknamed "perra gorda" and "perra chica".

Here are the different forms of currency that existed during the Spanish colonial period:

The Philippines 1 peso coin is a staple in the country's currency system, and it's interesting to note that it has undergone several design changes over the years.

The first 1 peso coin was introduced in 1903, and it featured a portrait of King Alfonso XIII of Spain.

The coin's design has been updated several times since then, with the current design featuring a portrait of Apolinario Mabini, a Filipino revolutionary leader.

The 1 peso coin is made of a copper-nickel alloy, which gives it a distinctive reddish-brown color.

It's worth noting that the 1 peso coin is widely accepted in the Philippines and can be used for everyday transactions.