Currency of the Philippines, Spanish issues (to 1898)
1896 10 pesos
The first note was lot 8229 in Ponterio sale 150 (Los Angeles, August 2009, not sold). The catalog description noted, "PHILIPPINES. 10 Pesos, 1.6.1896. P-A8a. VERY RARE. This note is listed as rare in the SCWPM and when seen it shows with or without an over stamp stating that it is canceled or not. This note is over stamped ILOILO which is a province in the Philippines. The note shows in a great manner with only strong vertical and horizontal folds. Two embossed stamps are located at the upper left and right portion of the note along with a vivid watermark restating the bank name. Crystal clear signatures remain making for a note which will garner great attention from advanced World Banknote collectors. VERY GOOD."
rebel 1898 5 pesos
The second specimen was lot 28336 in Heritage sale 4035 (Orlando, FL, January 2022), where it sold for $15,600. The catalog description[1] noted,
"Issued Banknote from the first Philippine Republic. Philippines Republica Filipina 5 Pesos 1898-98 Pick A27a PMG About Uncirculated 55. During the middle of the Spanish-American War, Emilio Aguinaldo declared the Philippines independent of Spain. After Spanish defeat in the Spanish-American War, the Philippines were ceased to the United States, and the Philippine-American War ensued. The Philippine Republic surrendered in 1901 and it was not until 1946 that full independence was achieved. However, during a brief time from 1898 to 1901, republican notes were issued. This second denomination of the series is very rare in any grade and it is quite special as an issued note with signature at right. Minor staining and edge tears are mentioned for accuracy. At the time of cataloging, this is the lone example in the PMG Population Report. Although printed rather crudely, this example presents well and has the original counterfoil included. A note with a short lifespan that is historically significant and worth serious consideration."
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