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Value of Old Currency from The Philippine Islands

We Buy Old Banknotes From The Philippine Islands

We are excited to offer this guide to currency from The Philippine Islands.  Many people assume that paper money from The Philippines is common.  And that is frequently true with money printed after 1940.  However, there are some really rare bank notes from The Philippines printed in the early part of the 20th century.  We are very interested in buying rare bank notes.  Please contact us if you have one for sale.  In the meantime, please use our published information here to learn how much your money could be worth.  Remember that the exact value is based largely on condition.  Our guide covers the major sections of Filipino money which are as follows:

Silver Certificates (1903 – 1916)
El Banco Espanol Filipino Notes (1908)
Blacked Out Philippine National Bank Notes (1912)
Bank Of The Philippine Islands Currency (1912 – 1933)
Philippine National Bank Notes (1916 – 1937)
Emergency Circulating Notes (1917)
Treasury Certificates (1918 – 1949)
Victory Notes (Series No. 66)
Central Bank Overprint Victory Notes (Series No. 66)
Japanese Government Pesos (not dated)

You probably have three questions now that you know what types of Philippine currency we cover in our guide.  First, where are the early Spanish-Philippines bank notes from 1852 to 1899?  Yes, there were several different types of bank notes printed prior 1900.  All of those notes are very rare and not something that the average collector is going to encounter.  Secondly, why don’t you cover currency from the Philippines printed after World War II?  The reality is that most bank notes printed after 1948 just aren’t especially valuable.  We don’t buy them because they are extremely common.  The biggest question should be: why is a website dedicated to American currency covering Philippine Islands money?

The Philippine Islands became a territory of The United States in 1898.  Five years later The Bureau of Engraving and Printing in Washington DC started printing paper money for The Philippines.  Many collectors of antique American currency also collect old bank notes from The Philippines.  The size of the money and printing quality is similar to US bank notes.  In fact, George Washington can even be found pictured on some Philippine Islands currency.  You have to remember that in the mind of the average 1930s American there really wasn’t any difference between Hawaii and The Philippines.  Both were just territories of the United States.  Many people still closely associate the two countries.

Philippine Islands Silver Certificates

Silver certificates were issued for two, five, ten, twenty, fifty, one hundred, and five hundred pesos denominations.  A general rule of thumb is that any denomination over 20 silver pesos should be considered scarce.  Choice uncirculated examples of any Philippine Islands silver certificates are very rare.  These just weren’t preserved in nice enough conditions to reach such high grades.  All silver certificates fit very well in modern United States currency collections because they are basically the exact same size as our paper money is today.  In terms of collectability, silver certificates are really where the most money gets spent.  We are really proud of our price guide below.  Click a picture to learn more about each individual silver certificate.

El Banco Espanol Filipino Currency

All of these bank notes are dated for 1908, or 1 Enero 1908.  These often get overlooked because they are in Spanish.  In 1908 the bank just happened to still have its original Spanish name.  These were still printed under the authority of The United States.  The 1912 bank notes have the standard English title that we are more familiar with.  Most Spanish language versions were printed in extremely low quantities in higher denominations.  Any note in perfect condition is also going to be scarce.  These really stand out because their designs are very different from other currency from The Philippines.

Blacked Out Philippine National Bank Notes

These were technically issued in 1919 but some have no date and some could say 1912.  These are very rare varieties.  Most are worth at least a few thousand dollars.  All denominations are rare.  They were originally printed with text related to the Bank of The Philippine Islands.  The original bank name, seal, signatures, and date are all blacked out.  The back has been overprinted with text that reads “The Philippine National Bank.”  Don’t think that the blacked out writing somehow lowers the value.  It is the exact opposite.  These are frequently found in heavily circulated condition as well.

Bank of the Philippine Islands Currency

This is a very attractive and fun to collect series from The Philippine Islands.  This series of paper money actually has a two hundred pesos denomination bank note.  Bank notes from The Bank of the Philippine Islands are not necessarily rare, even in high grades.  Be sure to look for notes that have a serial number that begins with a star symbol.  All of this currency was printed on sheets each containing five bank notes.  These were also printed in The United States by the Bureau of Engraving and Printing.  Our price guide below has more information about history, seal colors, etc.

Philippine National Bank Circulating Notes

These were first printed by The United States for use on The Philippine Islands in 1916.  Each bank note was printed on a sheet containing five notes total.  Starting in 1921 these were printed on sheets each containing ten bank notes.  These are no longer good at their face value.  All Philippine National Bank notes were devalued in June of 1948.  Some of the 1916 issues can be quite scarce.  The 100 pesos denomination is also difficult to locate.  As we have said before, any Philippine currency in perfect condition is going to command a nice premium.  The guide below has all of the details.

Emergency Circulating Notes of 1917

These bank notes were actually printed in the Philippines.  Circulated examples are probably worth about five dollars each.  Uncirculated examples are worth closer to $50.  These all have an issue date of Nov. 20 1917.  See below for more detailed information.

Philippine Islands Treasury Certificates

These were printed for a couple of decades.  Denominations range from one peso to five hundred pesos.  Some of these are rare and some others are common.  Click a picture of your specific bank note if you would like more information and history.  Be sure to check the serial numbers on these issues.  If the serial number is below 100, or if the serial number begins or ends with a star symbol, then the bank note will be worth more money.  Star notes were first issued in January of 1919.  Stars were used to replace money that was misprinted.  Another thing you might notice about treasury certificates is that some say Philippine Islands and other says Philippines.  Currency issued after 1935 used The Philippines title.

Victory Notes (Series No. 66)

Some treasury certificates have a back that is overprinted with the word VICTORY.  These are usually extremely common.  The only exception would apply to the five hundred pesos victory note which is actually quite scarce.  Victory notes were first used by The Philippines on October 20, 1944.  General MacArthur brought the new currency with him when he landed on Leyte Island.

Central Bank Overprint Victory Notes

This is the second version of Philippine Victory notes.  The back of each note has the standard Victory overprint, but it also says Central Bank of The Philippines.  Notes with a Central Bank overprint were issued up until 1949.  Just as with the standard victory note, Central Bank overprint notes also tend to be extremely common with exception of the 500 pesos note which is rare.

Japanese Government Pesos

These are extremely common!  We do not buy these.  However, we understand that this is a guide about Filipino currency, so we did write a brief article about such bank notes.  You can read the full story about Japanese Government Pesos.

Got Something To Sell?

We buy most banknotes from The Philippines printed before 1940.  Send us an email with pictures of what you have and we would be happy to make an offer.  If you have a rare item, then you will likely be pleasantly surprised at what we will pay.