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5 Pesos Philippines Islands, Treasury certificate
| Issuer | Treasury of the Philippine Islands |
|---|---|
| Year | 1929 |
| Type | Log in to see details |
| Value | 5 Pesos |
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| Obverse description | Intaglio-printed note with an oval portrait vignette of President William McKinley at left and Admiral George Dewey at right, both set within ornate engraved frames with name cartouches below. The centre carries bold letterpress text reading PHILIPPINE ISLANDS and FIVE PESOS against a yellow guilloche underprint, with the redemption clause below; a large circular red treasury seal of the Government of the Philippine Islands appears at centre right, and the series designation C / SERIES OF 1929 is printed at upper left and lower right. Two red serial numbers appear at lower left and upper right, with facsimile signatures of the Governor General and Treasurer below. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Entirely engraved and printed in golden yellow, the reverse is dominated by a central guilloche panel bearing the bold legend PHILIPPINE ISLANDS over a decorative palm-frond vignette. The numeral 5 appears in each corner within elaborate scrollwork cartouches, and the panels FIVE PESOS are inscribed in two horizontal banners at the top, flanking a central V ornament. The lower border carries three small oval counters reading FIVE and a central cartouche inscribed FIVE PESOS, all framed by intricate lathe-work borders. |
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| Comments |
Treasury certificates were introduced in the Philippines in 1918 to replace the older silver certificates, backed initially by a peso-for-peso silver reserve held in Manila. By 1929, the Philippine economy was deeply enmeshed with the U.S. dollar system, and these notes circulated alongside American currency at a fixed two-to-one rate. Dwight F. Davis — whose signature appears here as Secretary of War — is better known as the donor of the Davis Cup tennis trophy, a biographical detail that still surprises collectors.
The BEP-produced plates gave the series a visual authority that local printing could not have matched, though all engraving costs were charged back to the insular government in Manila.