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1 Peso Silver Certificate Issue
| Issuer | General Treasury of the Republic |
|---|---|
| Year | 1934-1949 |
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| Composition | Log in to see details |
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| Printer | Bureau of Engraving and Printing, United States (1862-date) |
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|---|---|
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| Reverse description | The Cuban coat of arms is centrally placed within an elaborate guilloche surround, flanked by the denomination numeral "1" in large intaglio figures at left and right, with "UN PESO" printed vertically on each side. The entire design is rendered in a single blue ink, with the full silver certificate redemption clause inscribed in a text panel below the arms. The imprint of the Bureau of Engraving and Printing appears at the bottom margin. |
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| Variants | P#69a - 1934 P#69b - 1936 P#69c - 1936A P#69d - 1938 P#69e - 1943 P#69f - 1945 P#69g - 1948 P#69h - 1949 |
| Comments |
The Philippine 1 Peso silver certificate series was authorized under the Commonwealth government and tied directly to the Manila-held silver reserves backing the peso at a fixed 2:1 rate against the U.S. dollar. When the Japanese occupation began in 1942, the existing stock of genuine notes was partially withdrawn, though significant quantities remained in circulation alongside the forced-currency "Mickey Mouse" pesos issued by the Japanese Military Administration.
Notes from this series printed before the war are distinguishable from postwar reissues by subtle plate differences. The BEP produced replacement stock after liberation to address the currency vacuum left by the occupation, and both printings share the same Pick number despite the gap in issuance.