Alfonso Coin and Hispanic Era Philippine Money

Part I Piloncitos

Part II      Barter Rings

OK, we have discussed about Ingots, Piloncitos and Barter Rings, those were our Money here in the Philippines while in our infamous Galleon Trade during the Pre-Hispanic era or during before the 1500s. Before we are being discovered by Ferdinand Magellan, so as our History says. 

This is Part III of our Philippine Money series, Parts I and II are linked above.

Now, let's see what kind of Money we have used during the Hispanic Era, this happens from 1521-1897, after all, a Portuguese Navigator named Ferdinand Magellan discovered our country on March 16, 1521.

Macuquinas

1739 Dos Mundos

The cobs or macuquinas of colonial mints were the earliest coins brought in by the galleons from Mexico and other Spanish colonies.  These silver coins usually bore a cross on one side and the Spanish royal coat-of-arms on the other.

The Spanish dos mundos were circulated extensively not only in the Philippines but the world over from 1732-1772.   Treasured for its beauty of design, the coin features twin crowned globes representing Spanish rule over the Old and the New World, hence the name “two worlds.”  It is also known as the Mexican Pillar Dollar or the Columnarias due to the two columns flanking the globes.

Barilla 1766

Due to the shortage of fractional coins, the barrillas, were struck in the Philippines by order of the Spanish government.  These were the first crude copper or bronze coins locally produced in the Philippines.  The Filipino term “barya,” referring to small change, had its origin in barrilla.

1 Peso 1897 Alfonso

In the early part of the 19th century, most of the Spanish colonies in Central and South America revolted and declared independence from Spain.  They issued silver coins bearing revolutionary slogans and symbols which reached the Philippines.  The Spanish government officials in the islands were fearful that the seditious markings would incite Filipinos to rebellion.  Thus they removed the inscriptions by counter stamping the coins with the word F7 or YII.  Silver coins with the profile of young Alfonso XIII were the last coins minted in Spain.   

The pesos fuertes, issued by the country’s first bank, the El Banco Español Filipino de Isabel II, were the first paper money circulated in the Philippines.

El Banco Español Filipino de Isabel II

To give you an idea how much an Alfonso worth these days? As of this writting, 3rd quarter of 2020, a legit online Auction site is currently auctioning an 1882 4 Pesos Alfonso XII Gold shown below for Php 200,000... Actually, it is worth more than that.

Alfonso XII gold 4 Pesos 1882, KM151, MS64 NGC

Especially choice with a bold strike and lovely light yellow gold color, rarely seen so choice. Struck for only six years, 1880-1885, this 1882 is the only really collectible year; two dates have reported minting but no coins have been located. The rarity of these gold coins can probably be attributed to melting during the revolution which began in the summer of 1896, effectively ending the Spanish colonial era.

OK, I'm gonna sign off to try to start a bidding war for an Alfonso on eBay ;-)

Cheerio!