A recent study has shown that viruses such as that causing the new coronavirus disease (COVID-19) can survive on plastic for three days, two days on stainless steel, cardboard for 24 hours, and copper for four hours. There is no direct study on banknotes but this SARS-CoV-2 is apparently nasty when it comes to surviving on surfaces. Banks in China were aware of this early on such that they were sterilizing banknotes through ultraviolet (UV) and heat treatments and subjecting them to "quarantine" for seven to 14 days before releasing them.
Banknotes and cons are potentially underestimated vectors for viruses, not to mention fungi and bacteria, because they are thoughtlessly circulated quickly across communities and beyond lockdown borders. So how can we sanitize money that we bring into our household?
COINS are easy to sanitize. Soak them in water with soap or detergent, rub their surfaces a bit, and you are done. Soap and detergents are designed to burst the structure of viruses and wash them away in pieces.
BANKNOTES are more tricky but the surest way is still washing them in soap or detergent. Polymer notes may be rubbed down like coins but absorbent banknotes made of paper, cotton, and other fabric will need to be soaked for a few minutes. They are designed to survive this unusual treatment but drying them will take some time. Alternatively, ironing non-polymer banknotes in high heat subjects them to surfaces in excess of 200°C and should kill viruses with a few seconds of pressing. Do not iron polymer notes as high heat can damage them.
Finally, whenever possible, use contactless payments.
Showing posts with label Banknotes. Show all posts
Showing posts with label Banknotes. Show all posts
New color of 100 peso bill
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| Top: Original colors of 100 peso banknote. Bottom: New banknote with light purple (mauve) color. |
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.
500 Peso Ferdinand Marcos Banknote (Unissued)
1985 Unissued Marcos 500 Piso
photo from pinoynotes.hostoi.com
Front: Ferdinand E. Marcos, Republika ng Pilipinas
Back: San Juanico Bridge, Angat Dam, Batasan Complex, Limandaang Piso
This banknote was supposed to be issued along with the rest of the New Design Series in 1985. However due to political circumstances, this design was never released into circulation. The banknote's designer Romi MananQuil narrates the story in his website:
The 500-peso Marcos bill was slated for production in late 1985. However, when a snap election was scheduled. The circulation of the newly printed bills was put on hold in deference to the law against electioneering as Marcos, whose image appeared on the new bank note was the incumbent running against Corazon Aquino. My 500-peso Marcos bill was never circulated and with the events that proceeded: the snap elections, the disputed victory of Marcos, the success of People’s Power in February 1986 and the instatement of Aquino as President, it perhaps seemed fitting that any vestiges of the overthrown government were thrown off. President Corazon Aquino soon ordered the redesign of the bill to honour her husband, Senator Benigno “Ninoy” Aquino whose 1983 slaying became the catalyst for change and the new democracy’s rallying cry for the overthrow of Marcos. Though I was once again tasked with the redesign of the bill, my family’s move to Canda prevented me from taking on the assignment.
20 Piso Banknote - 25 years, 6 presidents
Even though our 20 peso bill design was practically unchanged for 25 years since 1985, it has borne the signature of six Philippine Presidents and five central bank governors. Indeed, banknotes are witnesses to, and themselves artifacts of, our Nation's history.
We thank our blog reader and fellow banknote collector, reyn, for contributing the images below that display the signatures of all six presidents since Ferdinand Marcos.
Antibacterial Banknotes
It’s not hard to imagine just how dirty banknotes are. They are exchanged from one dirty hand to another, get dirty wet in markets, fall on dirty soil, and come in contact with other dirty money. We fold them, crease them, roll them, crumple them, even split them in half, thus wearing out their structure and providing more attachment surface for bacteria and fungi. No matter how dirty they become, we never throw them away nor even attempt to disinfect them with Lysol or alcohol. We just keep using them and they get dirtier and dirtier. It will not be surprising if someone can prove that banknotes are significant mediums for the spread of contagious diseases among people. Someone even said that banknotes should carry a government health warning.
It is good to know that the New Generation Currency of the Philippines is printed with Bioguard technology by Arjowiggins. Bioguard produces banknotes that are treated to prevent bacteria from multiplying. The anti-bacterial property has been tested to resist washing and will last throughout the lifetime of the banknote.
Here is a screenshot from their slideshow showing the difference between treated and untreated paper 24 hours after inoculation with E. coli bacteria.
How did they do this? They don’t say how, but most likely the banknote paper is treated with metallic ions which are known to have a wide range of antibacterial properties. Most notable among these ions is silver although copper, zinc, and other ions may also have been used. These ions inhibit the growth of bacteria and fungi.
So now, could we rub our hands on our banknotes instead of washing before eating? Maybe not, unless you’re willing to hold the banknote and let your food wait for 24 hours. But still this is a welcome feature to keep our banknotes cleaner and safer for the public.
It is good to know that the New Generation Currency of the Philippines is printed with Bioguard technology by Arjowiggins. Bioguard produces banknotes that are treated to prevent bacteria from multiplying. The anti-bacterial property has been tested to resist washing and will last throughout the lifetime of the banknote.
Here is a screenshot from their slideshow showing the difference between treated and untreated paper 24 hours after inoculation with E. coli bacteria.
How did they do this? They don’t say how, but most likely the banknote paper is treated with metallic ions which are known to have a wide range of antibacterial properties. Most notable among these ions is silver although copper, zinc, and other ions may also have been used. These ions inhibit the growth of bacteria and fungi.
So now, could we rub our hands on our banknotes instead of washing before eating? Maybe not, unless you’re willing to hold the banknote and let your food wait for 24 hours. But still this is a welcome feature to keep our banknotes cleaner and safer for the public.
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!
So what's new with these banknotes?
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.
- 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.
New 1000 Peso Bill - New Generation Banknotes
One Thousand Piso BanknoteReverse: 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 500 Peso Bill - New Generation Banknotes
Obverse: Icons of Democracy - President Corazon C. Aquino, Senator Benigno Aquino Jr. ; EDSA People Power I February 1986; Benigno S. Aquino, Jr. Monument; Seal of the President; New BSP Seal
Reverse: Puerto Princesa Subterranean River National Park (UNESCO World Heritage Site); Blue-naped Parrot (Tanygnathus lucionensis), woven cloth from 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
Icons of Democracy
President Corazon C. Aquino (25 January 1933 - 1 August 2009), the 11th President of the Philippines, is the first woman head of state. She assumed office following the historic non-violent People Power Revolution that toppled a dictatorship. Her major accomplishments were the restoration of democracy and the crafting of a new Constitution that limited presidential powers, established a bicameral legislature, and gave strong emphasis to civil liberties and human rights. She was married to former Senator Benigno Aquino, Jr.
Senator Benigno Aquino Jr. (27 November 1932 - 21 August 1983), stood against President Ferdinand Marcos who had declared martial law. His seven-year imprisonment under the dictatorship and assassination upon his return from exile galvanized the Filipinos to unite and oppose the dictatorship. This culminated in the peaceful People Power Revolution. The bronze memorial is in his honor in Makati City is a popular venue for holding mass movements.
The funeral processions of both President Corazon Aquino and Senator Benigno Aquino were an outpouring of national grief. Millions of people stayed on the roads for hours to pay their respects and to express their deep gratitude to the couple who dedicated their lives for the country and the Filipinos. On 30 June 2010, their only son Benigno S. Aquino III became the country's 15th President.
The eight-kilometer Puerto Princesa Subterranean River National Park in Palawan winds through a cave that has major formations of staltactites and stalagmites that fascinate and mesmerize. Declared as a UNESCO World Heritage Site, the pleace has a full mountain-to-the-sea ecosystem that is also home to rare animals such as the Philippine cockatoo and the Palawan mouse deer.
The rare Blue-naped Parrot thrives in the lush forests of Palawan and Mindoro. Parrots are known to be friendly, gentle, and intelligent.
New 200 Peso Bill - New Generation Banknotes
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.
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
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 BanknoteNew 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
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.
Measuring the weight of a banknote
I've been pondering what it would be like to pay 1 billion pesos in cash in the form of banknotes. How heavy is 1 billion Philippine pesos? Can I simply carry this around in a briefcase or will I need a wheelbarrow or maybe a forklift?
First, let's find out how heavy just one banknote is. I had a new uncirculated 50 peso bill in my bag so I folded it and weighed it on an analytical balance at school.
That's 0.9265 grams for a crisp banknote. When I tried a worn out 50 peso bill, it registered heavier at 1.0643 grams. That's understandable since a worn out banknote has more dirt and other foreign material on it. It also absorbs moisture more easily.
Then a friend lent me his uncirculated 500 peso bill so we both checked to see if a different denomination will weight differently.
It turns out the 500-peso banknote, at 0.9672 grams, is heavier than the 50-peso banknote by 0.0407 grams. Since the two crisp bills are exactly the same size, we can infer that the extra weight on the 500 peso banknote is due to the metallic windowed security thread which surely adds up to its weight. The 50 peso bill doesn't have this. Additionally, the 500-peso bill also has more ink printed on it given its more intricate design compared to the 50-peso bill.
So now we know the weight of a banknote will depend on its denomination and whether it is new or worn out. But for the sake of convenience, since a new banknote weighs just under 1 g and an old one just over 1 g, it is very safe to assume that a piece of banknote weighs 1 gram.
Now, how heavy is 1 billion pesos?
If 1 banknote weighs 1 gram, a standard bundle of 100 one thousand peso bills (100,000 PHP) will weigh 100 grams. A million will then be 1 kilogram - easily fits in your bag! But a billion? That will be 1,000 kilograms or one metric ton of 1000-peso bills! That's equivalent to the weight of 20 sacks of rice! You will need a forklift for that.
Lastly, consider that the Bangko Sentral ng Pilipinas (BSP) admits there is currently a shortage of 1000-peso bills, so your 1 billion pesos in cash will most likely be composed of 500-peso bills and weigh 2 metric tons.
Next time, we will imagine together how this 1 billion pesos in cash would look like. Or maybe a trillion?
First, let's find out how heavy just one banknote is. I had a new uncirculated 50 peso bill in my bag so I folded it and weighed it on an analytical balance at school.
That's 0.9265 grams for a crisp banknote. When I tried a worn out 50 peso bill, it registered heavier at 1.0643 grams. That's understandable since a worn out banknote has more dirt and other foreign material on it. It also absorbs moisture more easily.
Then a friend lent me his uncirculated 500 peso bill so we both checked to see if a different denomination will weight differently.
It turns out the 500-peso banknote, at 0.9672 grams, is heavier than the 50-peso banknote by 0.0407 grams. Since the two crisp bills are exactly the same size, we can infer that the extra weight on the 500 peso banknote is due to the metallic windowed security thread which surely adds up to its weight. The 50 peso bill doesn't have this. Additionally, the 500-peso bill also has more ink printed on it given its more intricate design compared to the 50-peso bill.So now we know the weight of a banknote will depend on its denomination and whether it is new or worn out. But for the sake of convenience, since a new banknote weighs just under 1 g and an old one just over 1 g, it is very safe to assume that a piece of banknote weighs 1 gram.
Now, how heavy is 1 billion pesos?
If 1 banknote weighs 1 gram, a standard bundle of 100 one thousand peso bills (100,000 PHP) will weigh 100 grams. A million will then be 1 kilogram - easily fits in your bag! But a billion? That will be 1,000 kilograms or one metric ton of 1000-peso bills! That's equivalent to the weight of 20 sacks of rice! You will need a forklift for that.
Lastly, consider that the Bangko Sentral ng Pilipinas (BSP) admits there is currently a shortage of 1000-peso bills, so your 1 billion pesos in cash will most likely be composed of 500-peso bills and weigh 2 metric tons.
Next time, we will imagine together how this 1 billion pesos in cash would look like. Or maybe a trillion?
20 Centavo Bill - Culion Leper Colony
20 Centavo Banknote
Obverse: This certifies that the Philippines Commonwealth Bureau of Health Culion Leper Colony is obligated to pay the bearer twenty centavos in legal tender currency.
Reverse: Issued by authority of the President of the Philippines. Transmitted 2/9/42 through the Commanding General, USAFFE, Iloilo
Reverse: Issued by authority of the President of the Philippines. Transmitted 2/9/42 through the Commanding General, USAFFE, Iloilo
20 Peso Bill - PNB Circulating Note (1937)
20 Pesos Banknote
Philippine National Bank Circulating Note (series of 1937)
photo courtesy of lumang.gamit of eBay
Philippine National Bank Circulating Note (series of 1937)
photo courtesy of lumang.gamit of eBay
Obverse: William A. Jones and seal of the Philippine National Bank
Reverse: Seal of the Philippine National Bank
Text
Obverse: The Philippine National Bank will pay the bearer on demand twenty pesos in lawful money of the Philippines. Issue authorized March 24, 1937 under the provisions of act numbered 2612 of the Philippine Legislature as amended.
Cory & Ninoy Aquino on 500 Peso Bill?
Why not? They fought for a common cause and gained the respect of Filipinos worldwide. Now, they deserve to be together. Besides, all former Philippine Presidents who passed away (except Marcos and Laurel) have appeared on circulation banknotes. Even current president Arroyo is already in the P200 bill. Above is the artwork by Peace love and revolution placing side by side, Corazon "Cory" Aquino and Benigno "Ninoy" Aquino, Jr. I think this is something that is not far from happening. I just think that since Cory is smiling, Ninoy should also smile like this.
FYI: Cory is already honored in the Philippines' largest denominated coin - the 1992 P10,000 coin - but how many can actually have that or even know it exists?
I was planning to make something like this before Cory will be buried today but when I searched the net, someone already thought of it. And since "Revolution" did such a good job in duplicating the texture and fonts (click on image to enlarge), this one is very much worth our attention.
FYI: Cory is already honored in the Philippines' largest denominated coin - the 1992 P10,000 coin - but how many can actually have that or even know it exists?
I was planning to make something like this before Cory will be buried today but when I searched the net, someone already thought of it. And since "Revolution" did such a good job in duplicating the texture and fonts (click on image to enlarge), this one is very much worth our attention.
Watch out for the new overprint - 60 Years of Central Banking
Last July 9, the Bangko Sentral ng Pilipinas (BSP) started issuing 12 million banknotes with an overprint commemorating 60 years of central banking. The overprint is on all six circulation bank notes: 20-piso, 50-piso; 100-piso; 200-piso; 500-piso; and 1,000-piso.
The BSP explains, "Central banking is a function directly linked with the development of our economy and our nation. It is appropriate therefore that we commemorate this milestone. Central banking started in 1949 when the Central Bank of the Philippines (CBP) started operations following the passage of Republic Act 265. The CBP ended when Republic Act 7653 or The New Central Bank Act gave birth to the Bangko Sentral ng Pilipinas in 1993." source
After the frenzy over the P100 bills with the UP Centennial overprint, more Filipinos have become aware of the value of banknote overprints to collectors.
Note that 10 million copies of the 100-peso bill with the UP centennial overprint were released and people are still selling them today several times their face value. This time, 12 million banknotes with the 60 years of central banking overprint will be issued, distributed among the six circulation notes (P20, 50, 100, 200, 500, and 1000.) That means, only 2 million overprinted notes will be issued for each kind of bill. That's still quite a lot but if everybody hoards these overprinted bills, we might not see too many in circulation.
Get your own overprinted notes now!
100 Peso Bill Concept Design
This is the art work of the 100 peso bill that was presented to the members of the monetary board of the Central Bank of the Philippines back in 1968. The banknote was issued in 1969 and first printed by the Thomas' De La Rue and Co. LTD. of England.
I saw this on display at the Panublion Museum in Roxas City, Capiz. It gives us an idea of how banknotes are designed before they are finalized for actual printing.
10 Peso Bill - American Series (1941)
1941 Ten Pesos Banknote
American Period Treasury Certificate (series of 1941)
photo courtesy of talontracker of eBay
American Period Treasury Certificate (series of 1941)
photo courtesy of talontracker of eBay
Obverse: George Washington and seal of the Philippine-American Commonwealth
Text
Treasury Certificate. By authority of an act of the Philippine Legislature; Approved by the President of the United States June 13, 1922. This certifies that there have been deposited in the treasury of the Philippines; Ten Pesos; payable to the bearer on demand; in silver pesos or in legal tender currency of the United States of Equivalent Value.
This banknote is in very good uncirculated condition.
Detect Fake 500 Peso Bills
At a glance, can you tell if the five-hundred peso banknote above is a fake? You can click the picture to see a larger view.There are many different ways to produce fake banknotes. Basic methods such as printing scanned images of authentic notes will produce counterfeits that are relatively easy to spot. Some groups, however, take counterfeiting seriously and produce copies that increasingly mimic the original.
I recently got to borrow this counterfeit 500 peso bill. Upon inspection, I can guess that this particular fake was created with some serious investment in equipment and technique. I would say this is a ‘professionally made’ counterfeit and probably represents one of the most sophisticated fakes in the Philippines.
Nevertheless, these fakes are still no match against the original. Let’s look at the different parts of this counterfeit money:
1. It might not be immediately noticed but this banknote has no serial numbers! However, other counterfeits made from scanned notes would usually have serial numbers. Most of the time, counterfeits made in one run would have identical serial numbers.2. The iridescent vertical gold band on genuine notes only looks like a darkened area on the fake banknote. It does not glitter under the light.
3. You don’t need to look very closely to notice the dirty appearance on Benigno Aquino’s face. Because fake banknotes have coarse details, the eyes are dark and don’t look ‘alive’ as they do in genuine notes.
4. The interwoven metallic strip is instead printed and does not shine under the light. The little numbers repeated along the thread are missing.
5. Genuine notes have a rough texture on most printed parts because of the raised prints. Surprisingly, this fake banknote also has a rough texture on some portions although not as pronounced as in genuine notes. On the other hand, the brown pattern on the upper-left hand corner is totally smooth while this is noticeably rough on genuine notes.6. In several portions of the banknote, misaligned patterns appear, usually where two colors meet.
7. The microprints are unexpectedly readable but are coarsely printed.
8. The concealed number does not show when you tilt the banknote towards you at an angle. This might be because the print is not raised like in genuine banknotes.9. Surprisingly, this fake banknote has a watermark when held against the light. Watermarks therefore are no longer good indicators of genuine notes.
10. There is no embedded metallic strip but a dark line appears where it should be when the banknote is held against the light. It appears to have been created using the same technique used to produce the watermark. On the other hand, the metallic strip on genuine notes is darker and can be felt when pinched.
Finally, the fake bill does not smell like money. It smells like old paper. However, if it circulates for a while along with genuine notes, it might also take on the smell of real money.
If you happen to encounter a banknote that you suspect to be counterfeit, report it to the authorities! These ones are not for collecting because mere possession of them is illegal.
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