Philippine five hundred-peso note
| (Philippines) | |
|---|---|
| Value | ₱500 |
| Width | 160 mm |
| Height | 66 mm |
| Security features | Security fibers, watermark, see-through registration device, concealed value, security thread, optically variable ink, tactile marks, rolling bar effect |
| Material used | 80% cotton 20% abacá fiber |
| Years of printing | 1903–1953; 1944–1945; 1953–1959; 1987–present |
| Obverse | |
 | |
| Design | Corazon Aquino, Benigno Aquino Jr., EDSA People Power I,[1] Benigno Aquino Jr. monument |
| Designer | Design Systemat[2] |
| Design date | 2016 |
| Reverse | |
 | |
| Design | Subterranean River National Park, blue-naped parrot (Tanygnathus lucionensis), Southern Philippines cloth design |
| Designer | Design Systemat[2] |
| Design date | 2010 |
The Philippine five hundred-peso note (Filipino: Limandaang Piso) (₱500) is a denomination of Philippine currency. Senator Benigno Aquino Jr. and his wife, President Corazon Aquino are currently featured on the front side of the note, while the Puerto Princesa Subterranean River National Park and the blue-naped parrot are featured on the reverse side.
History[edit]
Pre-independence[edit]
- 1905: Philippine Islands Silver Certificates issued with a portrait of Miguel López de Legazpi.
- 1918: Philippine Treasury Certificates issued with a portrait of Miguel López de Legazpi.
- 1936: Philippine Commonwealth Treasury Certificates issued with a portrait of Miguel López de Legazpi. This series were later overprinted with the word "VICTORY" after the liberation of the Philippines under Japanese rule in 1944.
- 1944: Japanese government issued series. Due to hyperinflation caused by the ongoing World War II, the Japanese were forced to issue higher denominations of their fiat peso. The banknotes ceased to be legal tender after the liberation.
- 1949: Philippine five hundred peso bill VICTORY at Central Bank of the Philippines Banknotes
Version history[edit]
| Philippines (1936-1941) |
Victory Series No. 66 (1944) |
Victory-CBP Banknote Series (1949) | |
|---|---|---|---|
| Obverse |  | ||
| Reverse |  |
Independence[edit]
English series (1951)[edit]
From 1953, the obverse side of the denomination featured the portrait of Manuel A. Roxas, the first president of the independent Republic of the Philippines. The reverse side featured the Old Central Bank main office. Roxas and the Central Bank building were later featured on the one hundred peso note upon the introduction of the Pilipino series notes.
In 1959, the 200 and 500 peso notes were withdrawn from circulation on December 31, 1959, pursuant to Philippine Republic Act No. 1516.[3]
New Design series (1987–2013)[edit]
In 1987, the five hundred peso denomination was not included in the Pilipino and Ang Bagong Lipunan series. The denomination however was reintroduced on August 21, 1987, as part of the New Design series notes.[4]
The note features the portrait of Benigno Aquino Jr., a former senator and an opposition leader when Ferdinand Marcos was president. The note is predominantly yellow in color. The obverse also features two popular quotes from Aquino: "Faith in our people and faith in God" (which is situated above the signature of the President of the Philippines), and "The Filipino is worth dying for", under which is signed his nickname, "Ninoy". There is also the signature of Aquino, a typewriter with his initials ("B.S.A.J."), and a dove of peace. The reverse features a collage of various images in relation to Aquino, showing him, inter alia, as a journalist for the Manila Times in front of an article about "1st Cav", a senator (the pioneer of the Study Now, Pay Later education program), the mayor of his hometown of Concepcion, the governor of Tarlac, and as the main driving force behind the People Power Revolution of 1986,[1][5] some three years after his death in 1983. This is the only note where the name is written in script. The banknote was designed by Rafael Asuncion.
After the creation of the "Bangko Sentral ng Pilipinas" in 1993, its new logo was incorporated on all the New Design series bills.
In 1998, the year of printing was added at the bottom of the denomination value located at the upper left corner of the obverse. The names of the signatories on the bills were later added starting with banknotes featuring the signature of President Joseph Estrada.
On September 20, 2001, additional security features were added, such as the security thread on the right side and the gold fluorescent printing on the left side across the portrait.
New Generation series (2010–present)[edit]
From 2010 onwards, the portrait of Benigno Aquino Jr. was redesigned and a portrait of his wife, former president Corazon Aquino, was added. A scene from the EDSA Revolution was added on the lower left of the obverse and the Ninoy Aquino Monument was added in the lower middle. The reverse now features the Puerto Princesa Subterranean River National Park and the blue-naped parrot.[6]
In 2017, an updated version of the New Generation series 500 peso banknote was issued with changes in the font size of the year of issue and the italicization of the scientific name on the reverse side.[7]
In 2020, an enhanced version of the 500 peso banknote was released. It added color-changing indigenous patterns to the security threads. A Rolling bar effect was also added in the 500 located at the upper-left corner. Finally, eight tactile marks were placed for the elderly and the visually impaired, four tactile marks were placed on the extreme left and right side of the front of the note.
The new BSP logo, which was redesigned in January 2021 was adopted in all NGC banknotes starting with the 2022 issued banknotes featuring the signatures of President Ferdinand Marcos Jr. and BSP Governor Felipe Medalla.
Version history[edit]
| English Series (1951) |
New Design/BSP Series (1987–2013) |
New Generation Currency Series (2010–present) | |
|---|---|---|---|
| Obverse | .jpg) |
 |
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| Reverse | .jpg) |
 |
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Unused designs[edit]
Originally, the ₱500 New Design Series banknote was to feature a portrait of Ferdinand Marcos on the obverse with the Batasang Pambansa Complex depicted on the reverse.[8][9][10] The concept design of these bills were commissioned to Romeo Mananquil. Before this denomination was distributed, Marcos was ousted in the 1986 People Power Revolution.[1][5]
.jpg) |
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In 2012, a copy of the Marcos ₱500 banknote was discovered in the collection of Wilson Yuloque, which was posted in the blog of Philippine banknote collector Christopher N.C. Gibbs.[11] A prototype copy of the banknote is currently displayed at the Museo ng Bangko Sentral ng Pilipinas.[12]
500-Piso Marcos Banknote (unused)[edit]
| 500-Piso Marcos Banknote (unused) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Image | Dimensions | Main Colour | Design | Year of First Issue | Usage in circulation | |||
| Obverse | Reverse | Obverse | Reverse | |||||
|
|
160 mm × 66 mm | Black | Ferdinand E. Marcos, narra tree, sugarcane, bundles of harvested rice stalks, indigenous weave design pattern from Ilocos region (Inabel) | Batasang Pambansa Complex, seal of the president of the Philippines (Marcos era), some accomplishments of the Marcos administration especially during the New Society era (e.g. San Juanico Bridge, Angat Dam, Bataan Nuclear Power Plant, BLISS Housing Project, Green Revolution agriculture, etc.) | 1985 (supposed) | Never circulated | ||
| For table standards, see the banknote specification table. | ||||||||
Commemorative issues[edit]
The 500-peso bill has sometimes been overprinted to commemorate certain events.
60 years of Central Banking Commemorative Banknote[edit]
On July 9, 2009, the Bangko Sentral ng Pilipinas introduced 12 million banknotes (2 million banknotes for each denomination) with an overprint commemorating 60 years of central banking. The overprint appears on the watermark area on all six circulating denominations.
45th Annual Meeting of the Asian Development Bank (May 2–5, 2012) Commemorative Banknote[edit]
A total of 10 million banknotes with the commemorative overprint were released by the Bangko Sentral ng Pilipinas to the general public to commemorate the Asian Development Bank's recent meetings.[13][14]
Printing years[edit]
| Banknote series | Year | President of the Philippines | BSP Governor |
|---|---|---|---|
| English Series | 1951 | Elpidio Quirino | Miguel Cuaderno Sr. |
| New Design Series | 1987–1990 | Corazon C. Aquino | Jose B. Fernandez Jr. |
| 1990–1992 | Jose L. Cuisia Jr. | ||
| 1992–1993 | Fidel V. Ramos | ||
| 1993–1998 | Gabriel C. Singson | ||
| 1998–1999 | Joseph Estrada | ||
| 1999–2001 | Rafael B. Buenaventura | ||
| 2001–2005 | Gloria Macapagal Arroyo | ||
| 2005–2010 | Amando M. Tetangco Jr. | ||
| 2010–2013 | Benigno S. Aquino III | ||
| New Generation Currency Series | 2010–2016 | ||
| 2016–2017 | Rodrigo Duterte | ||
| 2017–2019 | Nestor Espenilla Jr. | ||
| 2019–2022 | Benjamin E. Diokno | ||
| 2022–present | Bongbong Marcos | Felipe M. Medalla |
References[edit]
- ^ a b c "People Power: An eyewitness history".
- ^ a b "How to Make Money". Esquire. Archived from the original on July 19, 2013. Retrieved July 9, 2013.
- ^ Philippine Republic Act No. 1516 Chan Robles (www.chanrobles.com) Retrieved on November 24, 2012.
- ^ P500 Ninoy bills in circulation today, Manila Standard, August 21, 1987
- ^ a b "People Power Revolution 1986".
- ^ Cory, Ninoy together again on new 500-peso bill, Jam Sisante, GMANews.TV, December 16, 2010
- ^ BSP Releases New Generation Currency Banknotes with Enhanced Design and the Signature of the Fourth Governor of the Bangko Sentral ng Pilipinas, Bangko Sentral ng Pilipinas, December 5, 2017
- ^ How I "Made Money" for the Bangko Sentral ng Pilipinas, by Romeo Mananquil, published in Celebrate magazine, Fall 2008
- ^ The 500 peso Marcos banknote
- ^ P500-bill with Marcos face was never circulated
- ^ Gibbs, Christopher. "Wilson's Rarest Items". Archived from the original on December 29, 2016.
- ^ Angel C. Cacnio, preeminent Malabon artist Retrieved on February 19, 2019.
- ^ Philippines new 500-peso commemorative note confirmed BanknoteNews.com. Retrieved on May 4, 2012.
- ^ An official press release concerning the issuance of the 500-peso commemorative note Bangko Sentral ng Pilipinas. Retrieved on May 4, 2012.
