Philippine five hundred peso note
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The Philippine five hundred-peso note (
Filipino Filipino may refer to: * Something from or related to the Philippines ** Filipino language, standardized variety of 'Tagalog', the national language and one of the official languages of the Philippines. ** Filipinos, people who are citizens of th ...
: ''Limandaang Piso'') (₱500) is a denomination of Philippine currency. Senator
Benigno Aquino Jr. Benigno "Ninoy" Simeon Aquino Jr., (; November 27, 1932 – August 21, 1983) was a Filipino politician who served as a senator of the Philippines (1967–1972) and governor of the province of Tarlac. Aquino was the husband of Corazon Aqui ...
and his wife,
President President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university * President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ...
Corazon Aquino are currently featured on the front side of the note, while the
Puerto Princesa Subterranean River National Park The Puerto Princesa Subterranean River National Park is a protected area in the Philippines. The park is located in the Saint Paul Mountain Range on the western coast of the island of Palawan, about north of the city of Puerto Princesa, and c ...
and the
blue-naped parrot The blue-naped parrot (''Tanygnathus lucionensis''), also known as the blue-crowned green parrot, Luzon parrot, the Philippine green parrot, and locally known as pikoy, is a parrot found throughout the Philippines. Taxonomy In 1760 the French zoo ...
are featured on the reverse side. BSP will issue the polymer version of this denomination by 2023 and will be the second denomination in this format after the 1000-Piso polymer banknote issued last April 2022.


History


Pre-independence

* 1905: ''Philippine Islands Silver Certificates'' issued with a portrait of Miguel López de Legazpi. * 1918: ''Philippine Treasury Certificates'' issued with a portrait of Miguel López de Legazpi. * 1936: ''
Philippine Commonwealth The Commonwealth of the Philippines ( es, Commonwealth de Filipinas or ; tl, Komonwelt ng Pilipinas) was the administrative body that governed the Philippines from 1935 to 1946, aside from a period of exile in the Second World War from 1942 ...
Treasury Certificates'' issued with a portrait of Miguel López de Legazpi. This series were later overprinted with the word "VICTORY" after the liberation of the Philippines under Japanese rule in 1944. * 1944: '' Japanese government issued series''. Due to
hyperinflation In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as t ...
caused by the ongoing
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing ...
, the Japanese were forced to issue higher denominations of their fiat peso. The banknotes ceased to be legal tender after the liberation.


Independence


English series (1951)

From 1953, the obverse side of the denomination featured the portrait of Manuel A. Roxas, the first president of the independent
Republic of the Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...
. The reverse side featured the Old Central Bank main office. Roxas and the Central Bank building were later featured on the one hundred peso note upon the introduction of the ''Pilipino series'' notes. In 1959, the 200 and 500 peso notes were withdrawn from circulation on December 31, 1959, pursuant to Philippine Republic Act No. 1516.


New Design series The New Design Series (NDS) was the name used to refer to banknotes of the Philippine peso issued from 1985 to 2013; it was also known as the BSP Series when the Bangko Sentral ng Pilipinas was established in 1993. The coins, however, were issu ...
(1987–2013)

In 1987, the five hundred peso denomination was not included in the ''Pilipino'' and ''Ang Bagong Lipunan'' series. The denomination however was reintroduced on August 21, 1987, as part of the ''New Design series'' notes. The note features the portrait of
Benigno Aquino Jr. Benigno "Ninoy" Simeon Aquino Jr., (; November 27, 1932 – August 21, 1983) was a Filipino politician who served as a senator of the Philippines (1967–1972) and governor of the province of Tarlac. Aquino was the husband of Corazon Aqui ...
, a former senator and an opposition leader when Ferdinand Marcos was president. The note is predominantly yellow in color. The obverse also features two popular quotes from Aquino: "Faith in our people and faith in God" (which is situated above the signature of the
President of the Philippines The president of the Philippines ( fil, Pangulo ng Pilipinas, sometimes referred to as ''Presidente ng Pilipinas'') is the head of state, head of government and chief executive of the Philippines. The president leads the executive branch of t ...
), and "The Filipino is worth dying for", under which is signed his nickname, "Ninoy". There is also the signature of Aquino, a typewriter with his initials ("B.S.A.J."), and a dove of peace. The reverse features a collage of various images in relation to Aquino, showing him, inter alia, as a journalist for the
Manila Times ''The Manila Times'' is the oldest extant English-language newspaper in the Philippines. It is published daily by The Manila Times Publishing Corp. (formerly La Vanguardia Publishing Corporation) with editorial and administrative offices at 2/F ...
in front of an article about " 1st Cav", a senator (the pioneer of the ''Study Now, Pay Later'' education program), the mayor of his hometown of Concepcion, the governor of
Tarlac Tarlac, officially the Province of Tarlac ( pam, Lalawigan ning Tarlac; pag, Luyag/Probinsia na Tarlac; ilo, Probinsia ti Tarlac; tgl, Lalawigan ng Tarlac; ), is a landlocked province in the Philippines located in the Central Luzon region. It ...
, and as the main driving force behind the People Power Revolution of 1986, some three years after his death in 1983. This is the only note where the name is written in script. The banknote was designed by Rafael Asuncion. After the creation of the "Bangko Sentral ng Pilipinas" in 1993, its new logo was incorporated on all the New Design series bills. In 1998, the year of printing was added at the bottom of the denomination value located at the upper left corner of the obverse. The names of the signatories on the bills were later added starting with banknotes featuring the signature of President
Joseph Estrada Joseph Ejercito Estrada, (; born Jose Marcelo Ejercito; April 19, 1937), also known by the nickname Erap, is a Filipino politician and former actor. He served as the 13th president of the Philippines from 1998 to 2001, the 9th vice presi ...
. In 2001, additional security features were added, such as the security thread on the right side and the gold fluorescent printing on the left side across the portrait.


New Generation series (2010–present)

From 2010 onwards, the portrait of Benigno Aquino Jr. was redesigned and a portrait of his wife, former president Corazon Aquino, was added. A scene from the EDSA Revolution was added on the lower left of the obverse and the Ninoy Aquino Monument was added in the lower middle. The reverse now features the
Puerto Princesa Subterranean River National Park The Puerto Princesa Subterranean River National Park is a protected area in the Philippines. The park is located in the Saint Paul Mountain Range on the western coast of the island of Palawan, about north of the city of Puerto Princesa, and c ...
and the
blue-naped parrot The blue-naped parrot (''Tanygnathus lucionensis''), also known as the blue-crowned green parrot, Luzon parrot, the Philippine green parrot, and locally known as pikoy, is a parrot found throughout the Philippines. Taxonomy In 1760 the French zoo ...
. In 2017, an updated version of the ''New Generation'' series 500 peso banknote was issued with changes in the font size of the year of issue and the italicization of the scientific name on the reverse side. In 2020, an enhanced version of the 500 peso banknote was released. It added color-changing indigenous patterns to the security threads. A Rolling bar effect was also added in the 500 located at the upper-left corner. Finally, eight tactile marks were placed for the elderly and the visually impaired, four tactile marks were placed on the extreme left and right side of the front of the note.


Polymer version

The Bangko Sentral ng Pilipinas (BSP) will circulate the second polymer banknote, the 500-Piso banknotes by next year after assessing the public’s acceptance of the first 1,000-Piso polymer money. However, BSP Governor Felipe Medalla said over the weekend that the 500-Piso polymer banknote is unlikely to be issued in the first half of 2023.


Version history


Unused designs

Originally, the ₱500
New Design Series The New Design Series (NDS) was the name used to refer to banknotes of the Philippine peso issued from 1985 to 2013; it was also known as the BSP Series when the Bangko Sentral ng Pilipinas was established in 1993. The coins, however, were issu ...
banknote was to feature a portrait of Ferdinand Marcos on the obverse with the
Batasang Pambansa Complex The Batasang Pambansa Complex, or simply the Batasan (), is the seat of the House of Representatives of the Philippines. It is located along the Batasan Road in Batasan Hills, Quezon City. The complex was initially the home of the Batasang Pa ...
depicted on the reverse. The concept design of these bills were commissioned to Romeo Mananquil. Before this denomination was distributed, Marcos was ousted in the 1986 People Power Revolution. In 2012, a copy of the Marcos ₱500 banknote was discovered in the collection of Wilson Yuloque, which was posted in the blog of Philippine banknote collector Christopher N.C. Gibbs. A prototype copy of the banknote is currently displayed at the Museo ng Bangko Sentral ng Pilipinas.


500-Piso Marcos Banknote (unused)


Commemorative issues

The 500-peso bill has sometimes been overprinted to commemorate certain events.


60 years of Central Banking Commemorative Banknote

On July 9, 2009, the Bangko Sentral ng Pilipinas introduced 12 million banknotes (2 million banknotes for each denomination) with an overprint commemorating 60 years of central banking. The overprint appears on the watermark area on all six circulating denominations.


45th Annual Meeting of the Asian Development Bank (May 2–5, 2012) Commemorative Banknote

A total of 10 million banknotes with the commemorative overprint were released by the Bangko Sentral ng Pilipinas to the general public to commemorate the
Asian Development Bank The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The bank also maintains 31 field offic ...
's recent meetings.An official press release concerning the issuance of the 500-peso commemorative note
Bangko Sentral ng Pilipinas. Retrieved on 2012-05-04.


Printing years


References

{{Philippine peso history Banknotes of the Philippines Five-hundred-base-unit banknotes