History of Philippine Money
History of Philippine Money
History of Philippine Money
| AR504
ECON 1N PROF. MEL ACOMULAR, JR.
History of Philippine Money
Philippine moneymulti-colored threads woven into the fabric of our social, political and economic life.
From its early bead-like form to the paper notes and coins that we know today, our money has been a
constant reminder of our journey through centuries as a people relating with one another and with other
peoples of the world.
Pre-Hispanic Era
Trade among the early Filipinos and with traders from the neighboring
islands was conducted through barter. The inconvenience of barter
later led to the use of some objects as medium of exchange. Gold,
which was plentiful in many parts of the islands, invariably found its
way into these objects that included the piloncitos, small bead-likeb
gold bits considered by the local numismatists as the earliest coin of
the ancient Filipinos, and gold barter rings.
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Pre-Hispanic Era
Long before the arrival of the Spaniards, the Philippines has been
home to many seafaring communities. These communities traded
(barter) with other communities and countries such as Malaysia,
Vietnam, China and even as far as India.
Chinese Ming Dynasty porcelains and metalware have been
unearthed in several locations in the Philippines. Early Pinoys
bartered goods like pearls, gold pieces and medicinal plants for
foreign goods like metalware, porcelain and silk.
The earliest form of coinage (money) in our country were gold beads, referred to as piloncitos. Barter
rings and other gold pieces were also used in commerce.
Piloncitos- small bead-liked gold bits considered by the local numismatists as the earliest coin of the
ancient Filipinos, and gold barter rings. The term piloncito comes from the word pilon, a local sugar
container that resembles the coin.
Spanish Era Coins
Barillas
SAMPALOC BARILLA
The SAMPALOC BARILLA is perhaps the most unusual coin of the Philippines in terms of shape. It is cast in
lead and is one of the rarest among the barillas. SAMPALOC BARILLAS first appeared when it was
excavated during a river widening project in the province of Laguna. Only about 2 to 3 specimen are
believed to have been found.
BARILLA. 1728 BASSO.1
Cast uniface barila with arms of Manila stamped in center. VERY RARE. According to the Central Bank of
the Philippines Quarterly Vol. II #1, this type was unknown until 1948 when the first specimen was found
in the ruins of an old building in Sto. Tomas.
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Copper Barilla. 1766. Manila Mint. Carlos III (1759-1788). KM-1. Cal-1869.
(Bowers & Merena) Pontiero & Associates 2009 Sale #149 Lot #3335
Price Realized = $1350
1766 BARILLA CARLOS III KM-1-2 TYPE II
Shape: round
Edge: reeded
Diameter: 27.0 mm
Shape: round
Edge: reeded
Diameter: 21 mm
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Philippine Coinage
Pre - Hispanic Coinage
Barter Ring
Shells
Piloncitos
Shape: round
Edge: reeded
Diameter: 17.5 mm
References:
http://coin.filipinonumismatist.com/2009/04/prehispanic-coinage-barter-ring-shells.html
http://bsp-gov.ph/history_currency.html
http://www.kartonista.com/art/history-ofphilippine-money.html
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