Catalog
500 Pesos Philippine Islands
| Issuer | Treasury of the Philippine Islands |
|---|---|
| Year | 1929 |
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| Composition | Paper |
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| Obverse description | Intaglio-printed note with a vignette of Miguel López de Legazpi at left, rendered in fine engraved detail against an ornate guilloche underprint. The large numeral '500' occupies the centre field, overlaid with the text of the treasury certificate obligation. A circular red seal of the Government of the Philippine Islands appears at right, with printed signatures below. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Printed in purple-violet intaglio, the reverse is dominated by an elaborate scrollwork and foliate guilloche border framing a central oval vignette containing the Seal of the Philippine Islands, with an eagle above a shield. The denomination '500' appears in each corner, and the legend 'FIVE HUNDRED PESOS' is inscribed at top and bottom within the decorative frame. |
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| Comments |
The 1929 Treasury Certificate series represented a transitional moment for Philippine currency administration — issued under American colonial authority but framed as instruments of a distinctly Philippine treasury rather than U.S. federal obligation. The 500 Peso denomination was the highest value in this series, which placed real limits on its everyday utility and kept most examples in institutional or commercial hands rather than general circulation.
Surviving examples in any grade are genuinely scarce. The combination of high face value, limited print run, and the destruction wrought by the Second World War — particularly the deliberate burning of Philippine currency stocks ahead of Japanese advances in 1941–42 — accounts for that scarcity far more than normal attrition would.