Catalog
2 Pesos Circulating note
| Issuer | Philippine National Bank |
|---|---|
| Year | 1916 |
| Type | Log in to see details |
| Value | 2 Pesos |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PHILIPPINE NATIONAL BANK CIRCULATING NOTE THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND TWO PESOS IN LAWFUL CURRENCY OF THE PHILIPPINE ISLANDS ISSUED UNDER THE PROVISIONS OF ACT NUMBER 2612 OF THE PHILIPPINE LEGISLATURE TWO PESOS TWO PESOS |
| Reverse description | Printed in blue, the reverse centres on an elaborate guilloche medallion enclosing a large numeral '2', flanked symmetrically by crossed cornucopiae and laurel branch vignettes. Large ornamental numerals '2' occupy each corner within guilloche rosettes, and the bank title 'PHILIPPINE NATIONAL BANK' runs across the top with 'CIRCULATING NOTE' at the bottom in a solid panel. Circular legend text runs around the central medallion referencing the Philippine Government guarantee. |
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| Comments |
The Philippine National Bank was chartered in 1916 specifically to address the credit vacuum left by foreign banks unwilling to finance Philippine agriculture and small industry. This note entered circulation almost immediately after the bank's founding, making it among the earliest instruments the PNB issued under its own authority rather than through colonial treasury arrangements.
The Bureau of Engraving and Printing's involvement was a deliberate political choice — Washington wanted Philippine paper currency to carry the same production credibility as U.S. Federal notes. That relationship with the BEP persisted across multiple Philippine issuing authorities well into the Commonwealth period.