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10 Pesos Banco Español Filipino

Issuer Banco Español Filipino
Year 1908
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Engraver(s) USBEP
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Reverse lettering EL BANCO
ESPAÑOL FILIPINO
DIEZ PESOS
DIEZ PESOS
(Translation: The Spanish-Filipino Bank, Ten Pesos)
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Variants P#2a - signature at left: Julian Serrano
P#2b - signature at left: J. Serrano
Comments

The Banco Español Filipino had been the Philippines' only bank of issue since 1851, a Spanish colonial institution that survived the American takeover of 1898 remarkably intact. By 1908 it was operating under American administration but still carrying its old name — the formal rename to Bank of the Philippine Islands wouldn't come until 1912. Contracting the Bureau of Engraving and Printing in Washington to produce this series was a deliberate signal: the new colonial authority bringing its own production standards to bear on an institution it had inherited rather than built.

The BEP's involvement here is early for Philippine currency work, and the notes printed under this arrangement are notably scarcer than later BEP-produced Philippine issues.