2,000 Piso Commemorative Banknotes
Two different 2,000 piso commemorative banknotes have been released with strikingly similar designs. Each depicts President Joseph Ejercito Estrada taking oath at the historic Barasoain Church in Malolos, Bulacan on June 30th 1998. The reverse of each shares the same scene depicting the reenactment of the declaration of Philippine Independence at the Aguinaldo Shrine in Kawit, Cavite on June 12th 1998 by President Fidel Ramos.
Here’s the side-by-side comparison:
The New Millennium Commemorative notes were to be released in 2001. Unfortunately, this was the year that President Estrada was ousted from office under rumors of corruption. Given he featured so prominently on the notes it was decided to halt the release. The 5,000,000 individual notes that were produced were reportedly put into storage in the Bangko Central ng Pilipinas vaults. In 2010 the bank decided to destroy the notes but allowed 50,000 to be released to collectors and for “historical, educational, numismatic and other purposes.”.
Both notes were released in presentation folders. The first release is the most striking not just due to the sheer size of the banknote but also because of the high quality, dark blue, thick folder that it came in. In contrast the second release came in a simple yellow folded piece of (comparatively thin) cardboard. Both notes included information that describes the background and reason for release of the note. The 1998 release is by far the better of the 2 from a presentation perspective. It is interesting that the 2001 release does not mentioned that the majority of notes were destroyed or that there were 50,000 released – details that I assume were deliberately overlooked. The 1998 release has a “Certificate of Issuance” which has a serial number matching that of the banknote. The 2001 release does not and is overall a much simpler issue.
![](http://www.phil-philately.com/wp-content/uploads/2024/03/1998-2000piso-commemorative-note-in-cover-inside-760x1024.jpg)
![](http://www.phil-philately.com/wp-content/uploads/2024/03/2001-2000piso-commemorative-note-in-cover-inside-1024x905.jpg)
Both notes are able to be easily removed from their plastic sleeves – they are not sealed. For this reason it is common to see notes that have ripples through the paper as the humid Philippine climate can be hash on poorly protected banknotes. I often see these notes sell for similar prices – it does not appear that one is significantly more valuable than the other.
Which do you like the best? Perhaps the big, striking, beautifully presented note? Or maybe the simple yet scarcer note with an interesting backstory? Just get one of each I say.
Thanks for reading, happy hunting and have fun with your collection!