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200 Piso Without horizontal bars

Issuer Bangko Sentral ng Pilipinas
Year 2019-2020
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Currency Piso (1967-date)
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Obverse description A front-facing portrait vignette of former President Diosdado P. Macapagal is positioned at left centre, framed by guilloche underprint in orange and yellow tones. At lower left, an intaglio vignette illustrates the inauguration of President Gloria Macapagal-Arroyo, while the central field carries a vignette of the Declaration of Philippine Independence at Kawit, Cavite on 12 June 1898, and the right centre presents the opening of the Malolos Congress at Barasoain Church on 15 September 1898. The denomination "200" appears in numerals, with the full legend in Filipino rendered in letterpress across the upper and lower registers.
Obverse lettering REPUBLIKA NG PILIPINAS ANG SALAPING ITO AY BAYARIN NG BANGKO SENTRAL AT PINANANAGUTAN NG REPUBLIKA NG PILIPINAS 200 DECLARATION OF PHILIPPINE INDEPENDENCE KAWIT, CAVITE 12 JUNE 1898 OPENING OF MALOLOS CONGRESS BARASOAIN CHURCH, 15 SEPTEMBER 1898 DALAWANDAANG PISO
(Translation: Republic of the Philippines This bill is a debt of the central bank and a responsibility of the Republic of the Philippines Two hundred pesos)
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Comments

The "without horizontal bars" distinction refers to a design modification in the serial number typography — an easily overlooked variable that nonetheless separates two catalogued states of the same issue. The BSP's Security Plant Complex in Quezon City has printed Philippine currency in-house since 1978, and subtle production changes between print runs of a single denomination within a narrow date range are not unusual for the facility.

The abacá fiber component in the paper substrate is a deliberate nod to a historically significant Philippine export commodity, but it also serves a genuine technical function — abacá produces exceptionally strong, tear-resistant pulp, which is why it has been used in banknote paper globally for over a century.