Catalog
10 Pesos
| Issuer | Banco Español Filipino |
|---|---|
| Year | 1883 |
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| Shape | Rectangular |
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|---|---|
| Obverse lettering | EL BANCO ESPAÑOL FILIPINO á la presentacion de este billete pagará al portador DIEZ PESOS FUERTE MANILA (Translation: The Spanish-Filipino Bank Upon presentation of this bill, will pay the bearer Ten hard pesos) |
| Reverse description | Uniface; reverse is blank. |
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| Comments |
The Banco Español Filipino was the only bank of issue in the Philippines during the Spanish colonial period, established by royal decree in 1851. This 1883 series predates the monetary reforms that followed the opening of the Philippine economy to broader international trade, and the bank operated under strict charter conditions that limited note issuance to a fixed multiple of its metallic reserves — a constraint it periodically strained.
Surviving examples from the early 1880s are genuinely rare. The Philippine climate was brutal on paper currency, and much of the outstanding stock was retired or destroyed well before Spanish administration ended in 1898.