13. History of Philippine Paper Money

New Generation Series

The New Generation series of banknotes was released in 2010 and are still in use today. The smallest note in this series is the 20 piso note. Security and anti-counterfeiting measures were once again a focus when designing this new series. Famous Filipinos take obverse again while the reverse features natural wonders. Bright colours, large numbers and other features exist to assist the visually impaired (with additional changes from 2020 to provide even more assistance). Banknotes in this series consist of 20, 50, 100, 200, 500 and 1,000 piso denominations.

Many changes have been applied throughout this series, some of which are:

• 2016 – banknotes released with President Duterte’s signature
• 2017 – updated to reflect newly appointed BSP governor signature and name
• 2017 – years are printed in a larger font on all banknotes
• 2017 – other wording changes on various notes
• 2019 – BSP governor changed again after the death of Nestor Espenilla Jr.
• 2020 – Additional security features were implemented (larger thread size, improved security window on larger denominations and optically variable ink was applied to the 500 & 1,000 piso notes)
• 2022 – Release of 1,000 peso polymer banknote

All non-polymer notes bear the BSP seal (#6 below), while the new polymer notes have a hologram in the clear window.

The Bangko Sentral ng Pilipinas (BSP) partnered with Note Printing Australia (NPA), a subsidiary of the Australian Central Bank to produce the 1,000 piso polymer banknote. Australia was the first country to release a full set of polymer banknotes (1992-1996) and NPA produces polymer banknotes for a number of different countries – making the partnership a “no brainer”. Polymer notes offer better security, are longer lasting/better wearing and much harder to forge than paper notes. The printing process also allows for richer colors and bolder designs. While polymer notes might be more expensive to initially produce their longevity means cost savings over time, since banknotes are in circulation for longer.

Image	Year/Denomination	Notes
Type 206a 1.2 (2014b) Type 206b 1.2 Type 206b 1.5	20 Piso 2010-2019 (Type 206a/206b) Production quantities reduced after 2019 with the release of the 20 piso coin.	Type 206a 1.1: Signatures Aquino III / Tetangco. 1 letter prefix on serial number. Printed dates: 2010, 2014a, 2014b, 2014c, 2015, 2015g, 2016f, 2016g, 2016h, 2016j. Type 206a 1.2: Signatures Aquino III / Tetangco. 2 letter prefix on serial number. Printed dates: 2010, 2012, 2013, 2014a, 2014b, 2015a, 2015f, 2016, 2016g, 2016j, 2017g, 2018, 2019. Type 206a 1.3: Signatures Aquino III / Tetangco. 2 letter prefix on serial number and 7 digits in serial number (additional digit). Printed dates: 2013. Type 206b 1.1: Signatures Duterte / Tetangco. Printed dates: 2016. Type 206b 1.2: Signatures Duterte / Tetangco. Printed dates: 2017f, 2017g. Type 206b 1.3: Signatures Duterte / Espenilla. Printed dates: 2017, 2018, 2019. Type 206b 1.4: Signatures Duterte / Diokno. Printed dates: 2019, 2019a, 2019g, 2020, 2021, 2022. Type 206b 1.5: Signatures Marcos / Medalla. Printed dates: 2022, 2023.
Type 207a (2015) Type ?? (2023)	50 Piso 2010-2020 (Type 207) 2020-2022 (Type 224) 2020-2022 (Type ??) Type 224 banknotes have horizontal bars intended for the visually impaired. Later notes from 2022 have an “electrotyped” value in the watermark area.	Type 207a: Signatures: Aquino III / Tetangco. Printed dates: 2010, 2012, 2013, 2014, 2015, 2015a, 2016, 2016f, 2016g, 2016h. Type 207b: Signatures Duterte / Tetangco. Printed dates: 2017, 2017a. Type 207b: Signatures Duterte / Espenilla. Printed dates: 2017-2018, 2019. Type 207c: Signatures Duterte / Diokno. Printed dates 2019, 2019g, 2020. Type 224: Signatures Duterte / Diokno. Printed dates 2020, 2022 Type ???: Signatures Marcos/ Medalla. Printed dates 2023 on.
Type 208 (2014) Type ??? (2024)	100 Piso 2010-2015 (Type 208) 2015-2020 (Type 222) 2020-on (Type 225) The new notes from 2020 have horizontal bars intended for the visually impaired.	Type 208 is light purple in colour as is 222a – but not 222b onwards. Type 222d has the scientific name on the reverse printed in italics. Type 208: Signatures Aquino III / Tetangco. Printed dates: 2010, 2012, 2013, 2014, 2014a, 2014b, 2015. Type 222a: Signatures Aquino III / Tentangco 2015a Type 222b: Signatures Aquino III / Tentangco Printed dates: 2016, 2016A, 2016F, 2016H, 2016J, 2016g (single letter prefix on serial number) Type 222c: Signatures Duterte / Tetangco Printed dates: 2016a, 2017f with single letter prefix on serial number, 2017 and 2017f with double letter prefix on serial number. Type 222d: Signatures Duterte / Espenilla. Printed dates: 2017, 2018, 2018A, 2018B, 2019, 2019G. Type 222e: Signatures Duterte / Diokno. Printed Dates: 2019h, 2019j Type 225: Signatures: Duterte / Diokno. Type ????: Signatures Roxas / Remolona Jr.
Type 209a (2013) Type TBC (2020)	200 Piso 2010-2020 (Type 209) 2020-on (Type TBC) The new notes from 2020 have horizontal bars intended for the visually impaired.	Type 209a: Signatures Aquino III / Tentangco Printed dates: 2010, 2013, 2014, 2015 Type 209b: Signatures Aquino III / Tetangco. Printed dates: 2016, 2016f, 2017, 2020 Type TBC: Signatures Duterte / Diokno.
Type 210b (2017f) Type 210a (2015) Type 210d (2020f) Type ??? (2023) Type ??? (2024)	500 Piso 2010-2020 (Type 210) 2020-on (Type 227) The new notes from 2020 have horizontal bars intended for the visually impaired.	Type 210a: Signatures Aquino III / Tetangco. Printed dates: 1020, 2012, 2013, 2014, 2014a, 2015, 2016, 2016f, 2016g. Type 210b: Signatures Duterte / Tetangco. Printed dates: 2016, 2016a, 2017, 2017f Type 210c: Signatures Duterte / Espenilla. Printed dates: 2018, 2018f, 2018g, 2019, 2019f Type 210d: Signatures Duterte / Diokno. Printed dates: 2019, 2020f Type 227a: Signatures Duterte / Diokno. Type ???: Signatures Marcos / Medalla – no horizontal bars Printed Dates: 2023 Type ???: Signatures Marcos / Remolona Jr. – no horizontal bars Printed Dates: 2024
Type 211a (2014) Type 211d (2018) Type 210e (2020) Type 210e (2021)	1,000 Piso 2010-2020 (Type 211) 2020-on (Type 228) Notes from 2010-2017 feature the image of the Order of Lakandula and the words “Medal of Honor” printed beside the image and above the words “Sanlibong Piso” on the front of the note. Banknotes of Type 211d onwards do not. The new notes from 2020 have horizontal bars intended for the visually impaired.	Type 211a: Signatures Aquino III / Tetangco. Printed dates: 2010, 2012, 2013, 2014, 2015, 2016). Type 211b: Signatures Aquino III / Tetangco (2016g). Type 211c: Signatures Duterte / Tetangco. Printed dates: 2016a, 2016f, 2017. Type 211d: Signatures Duterte / Espenilla Jr. Printed dates: 2017, 2018, 2018f, 2019, 2019f Type 210e: Signatures Duterte / Diokno. Printed dates: 2019, 2019f, 2020, 2021 Type 228: Signatures Duterte / Diokno.

Read on for the new series of polymer banknotes.