...Philippines - 2022 Polymer Series 1000 Piso

 Republika ng Pilipinas

(Republic of The Philippines)

Bango Sentral ng Pilipinas

(Central Bank of The Philippines)

Currency - Piso (PHP)

 

Posted below is a new polymer note of 1000 piso, which was released on 18.04.2022. This is the first polymer banknote series ever released by the central bank, and according to the bank, this is a trial run for a polymer banknote circulating in the country, and if this experiment is successful, it is believed other denominations may be printed in polymer substrate going forward. Certain countries in Southeast Asia are already using polymer banknotes, countries like - Brunei (full set), Malaysia, Singapore, Thailand, and Vietnam, and all these countries have similar climate environments like the Philippines. With a Philippines population of 110 million people, the benefits of having polymer banknotes certainly outweighs those cotton based paper banknotes, mainly due to longer life cycle, more hygienic and not to mention environmentally friendly (recyclable) too.

The design of this new polymer note is completely new on the front, but it retains the last paper designs of the 1000 piso on the back. Also, like the last paper note, it also retained the predominantly blue colour for the note too.

This note is reportedly printed by Note Printing Australia (NPA), and as such, I believe there are no replacement banknotes printed for this new polymer series. The first prefix for this polymer series is AA. Unlike those polymer banknotes printed by NPA for Australia and New Zealand, the Philippines central bank did not adopt the prefix style as those issued in Australia or New Zealand, where two digits are used after the letter prefixes to indicate the year of release. This is not necessary as all the Philippines modern banknotes are printed with the year date on it. For this new series, it is printed with the year date of 2022 on the front of the note. It was also reported that 10 million pieces have been printed/issued, and given that the note is printed with 7-digit serial number, I wonder how many prefixes have been printed to cover the 10 million quantities, and what last prefix has been used to replace those error notes. I have sighted AB prefix. What about AC, AD etc? Would NPA print the entire 9,999,999 notes with just AA prefix, and then replace them with AB to make up the 10 million pieces quantity? I have a feeling that this may not be the case, as NPA does not necessarily print the entire quantity possible for a given prefix.

 

One Thousand Piso

Philippines eagle, Sampaguita (Jasminum sambac flower)

 

Front - One the front, it features two main national symbols of the country. Firstly, is the Philippines Eagle (Pithecophaga jefferyi). This is one of the rarest birds in the world, and it is believed that there are less than 500 birds in the country. The Philippines eagle represents the country's uniqueness, strength, power, and love for freedom, as well as a sharp vision for the future. Looking at the note, I can tell you that this is one angry looking eagle, in my opinion (Are you looking at me? Are you?). The other symbol is the Sampaguita (Jasminum sambac flower) in the form of a see-through window. The Sampaguita symbolises purity, simplicity, humility, and strength. On the right is another see-through window, and on the window, it features the National Coat of Arms, and beneath that is the new logo of the Central Bank of The Philippines. This new central bank logo was adopted on 20.11.2020, but has not been used on any of the existing paper banknotes series issued since then until now. Unlike those last paper notes issued, neither the coat of arms or the central bank logo are printed above the signatures of the President and the Bank Governor. As President Rodrigo Roa Duterte's tenure as President ended on 30.06.2022, it is believed that this would be the last banknote bearing his signature, unless there are other paper notes reprinted and not issued to the public yet. Under the current Philippines's constitution, a President can only hold the office for one term if directly elected. However, he can run for the Vice President post after that, and for any reasons, if the sitting President cannot carry out his duty in office, the Vice President can take over the role and become the next President of the country. Rodrigo Roa Duterte did accept the nomination for the Vice President for the 2022 election in 2021, but then decided not to stand for the election. Her daughter is now the Vice President of the Philippines. Both the President and the Vice President positions are directly elected by the people, and both candidates can come from a rivaling party too. How good is that for a general election?

 

Signatures

President - Rodrigo Roa Duterte (tenure 2016-30.06.2022)

Governor - Benjamin Estoista Diokno (tenure 2019-2022)

Dimensions - 161mm x 66.5mm

Back - As mentioned earlier, the design on the back is basically the same as the last paper banknote issued. On the left is the outline map of the Philippines. The Tubbataha Reefs Natural Park, a UNESCO World Site, is printed on the background, with a turtle swimming and below that is a South Sea Pearl oyster. The Tubbataha Reefs Natural Park is situated between the main island of Mindanao and the island of Palawan. A colourful Lion fish is also depicted swimming in the reef. On the right is the strip weaver design called T'nalak. This feature was first introduced on the 1000 piso paper note issued in 2020 as the Windowed Security Thread (WST).

 

The Tubbataha Reefs Natural Park, turtle, South Sea Pearl oyster

Footnote; -

I have the following question for those who follow Philippines politics. As you would have known, since 30.06.2022, the President of the Philippines is Ferdinand Romualdez Marcos Jr (aka Bongbong Marcos). He will be the President of the Philippines for the next 6 years, from 2022 to 2028. President Bongbong Marcos is the only son of the late Philippines President Ferdinand Emmanuel Edralin Marcos Sr. Ferdinand Marcos was the 10th President from 1965 to 1986. It is believed that in 1983, he ordered the assassination of his then political rival, the late Senator Benigno Ninoy Simeon Aquino Jr (b.1932-21.08.1983) upon his return from self exile in the United States. 

The current design of the 500 piso paper note features the 11th President, Maria Corazon Cory Aquino (b.1933-2009), and her husband the Senator Benigno Ninoy Simeon Aquino Jr. All banknotes issued in the Philippines bore the signature of the country's current President.

My question here is that, do you think the current President would have any final say on the design of banknotes in the country? If so, would he agree to have the main feature of Senator Benigno Ninoy Simeon Aquino Jr featured on a future banknote with his signature on it? Based on this new 1000 piso posted above, the design on the front is completely new, and if the central bank decided to print a new series for the 500 piso, do you think it will maintain the current main features as well? Based on this new 1000 piso note posted here, I believe this is very unlikely. However, what would happen, if the stock for the current 500 piso banknotes is running low, and the new design is not ready yet, would the central bank go ahead and reprint the current paper series with Bongbong Marcos's signature on it? I just can't wait to find out what will happen next! Perhaps, they may just do reprints for all other denominations, except the 500 piso piece, just to avoid this issue. I believe the President does have the final say as to who should be appointed as the central bank governor, and in this case, and for this, I am sure the President will have the final say on all feature designs of banknotes in the country.