Catalog
5 Pesos Treasury Certificate, Red rays
| Issuer | Treasury of the Philippine Islands |
|---|---|
| Year | 1918 |
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| Value | 5 Pesos |
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|---|---|
| Obverse lettering | TREASURY CERTIFICATE TREASURY CERTIFICATE BY AUTHORITY OF AN ACT OF THE PHILIPPINE LEGISLATURE, APPROVED BY THE PRESIDENT OF THE UNITED STATES MAY 6, 1918 THIS CERTIFIES THAT THERE HAVE BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINE ISLANDS FIVE PESOS PAYABLE TO THE BEARER ON DEMAND IN SILVER PESOS OR IN GOLD COIN OF THE UNITED STATES OF EQUIVALENT VALUE PHILIPPINE ISLANDS FIVE PESOS SERIES OF 1918 FIVE PESOS FIVE FIVE |
| Reverse description | Entirely printed in red-orange ink, the reverse is dominated by the bold central legend PHILIPPINE ISLANDS framed above by an elaborate guilloche border incorporating foliate scrollwork and oval rosette ornaments. A large underprint of radiating palm fronds fills the central field. Numeral 5 counters appear in ornate cartouches at each lateral margin, and the lower centre bears a decorative panel with the denomination FIVE PESOS flanked by FIVE inscriptions in oval frames. |
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| Comments |
The Treasury Certificate series was introduced in 1918 as the Philippine Islands moved away from the Silver Certificate system that had been in place since American colonial administration took hold after 1903. These certificates were backed by a peso fund held in Manila rather than silver coinage, a shift that gave the Insular Treasury more flexible control over the currency supply as wartime commodity pressures made silver backing increasingly difficult to manage.
The "Red rays" designation distinguishes this printing variant from others in the P#62 series — a collector distinction based on a design feature in the underprint, not an official treasury classification.