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The First Philippine Commemorative Coins: The 1936 Commonwealth Silver Issues
When collectors think of Philippine commemorative coins, many immediately recall the 1947 Douglas MacArthur silver coins issued after independence. However, commemorative coinage in the Philippines began earlier—during the Commonwealth period.
In 1936, a special set of silver coins was issued to commemorate the establishment of the Commonwealth of the Philippines, a transitional government created in preparation for full independence from the United States.
These coins represent an important moment in Philippine numismatic history. They bridge the gap between the earlier U.S.–Philippine coinage and the emerging national identity of the Commonwealth era.
The Birth of the Philippine Commonwealth
On November 15, 1935, the Commonwealth of the Philippines was inaugurated, marking the beginning of a ten-year transition toward independence.
This new political status required not only governmental changes but also symbolic representations of Filipino leadership and nationhood. Coinage played an important role in reflecting this transition.
While regular circulation coins continued under the U.S.–Philippine monetary system, a commemorative issue was authorized to celebrate the establishment of the Commonwealth government.
The 1936 Commonwealth Commemorative Coin Set
On November 15, 1935, the Commonwealth of the Philippines was inaugurated, marking the beginning of a ten-year transition toward independence.
This new political status required not only governmental changes but also symbolic representations of Filipino leadership and nationhood. Coinage played an important role in reflecting this transition.
While regular circulation coins continued under the U.S.–Philippine monetary system, a commemorative issue was authorized to celebrate the establishment of the Commonwealth government.
Roosevelt and Quezon One Peso
One commemorative peso features U.S. President Franklin D. Roosevelt alongside Manuel L. Quezon, the first President of the Commonwealth of the Philippines. Roosevelt’s presence acknowledges the role of the United States in granting the Philippines its new autonomous status.
Philippine Commonwealth Commemorative 1 Peso Coin - Roosevelt & Quezon
Murphy and Quezon One Peso
Another commemorative One Peso coin depicts Frank Murphy, the last American Governor-General of the Philippines, together with President Quezon.
Philippine Commonwealth Commemorative 1 Peso Coin - Murphy & Quezon
Murphy and Quezon 50 Centavos
The third coin in the series is a 50 Centavos silver issue, also portraying Murphy and Quezon.
Philippine Commonwealth Commemorative 50C Coin - Murphy & Quezon
All three coins share the Commonwealth coat of arms on the reverse, symbolizing the new political identity of the Philippines during this transitional era.
Philippine Commonwealth 1936 coin reverse
Melting of Earlier Peso Coins
An interesting aspect of the 1936 commemorative coins is how their silver was obtained.
Many earlier U.S.–Philippine One Peso coins minted between 1903 and 1912 were melted to provide the metal needed for the commemorative issue.
This process unintentionally reduced the surviving population of certain earlier coins—especially the 1906 One Peso, which is already considered scarce among collectors today.
Filipino Design Elements
Although produced during the American colonial period, the commemorative coins incorporated distinctly Filipino design elements.
The designs were created by Ambrosio Morales, a Filipino artist involved in developing visual symbols for the Commonwealth government.
One notable detail is the interlocking bamboo pattern found in the denticles of the coin design. Bamboo is often associated with resilience and unity in Filipino culture, and its inclusion subtly reflects the growing national identity of the Philippines during the Commonwealth period.
Interlocking Bamboo Pattern
War and the Fate of the Coins
The history of these coins became even more dramatic during World War II.
Unsold commemorative coins were reportedly stored in the Manila Mint and the Philippine Treasury. When Japanese forces advanced toward Manila in 1941–1942, part of the country's gold and silver reserves was transferred to Corregidor for safekeeping.
As the situation deteriorated, large quantities of precious metal reserves—including commemorative coins—were reportedly dumped into Caballo Bay to prevent them from falling into enemy hands.
Some of these coins were later recovered after the war. These recovered pieces are often referred to as sea-salvaged coins, identifiable by surface corrosion and damage caused by prolonged exposure to saltwater.
Philippine Commonwealth Commemorative Coins - Sea Salvaged
Collecting the Commonwealth Commemoratives
For collectors of Philippine coins, the 1936 Commonwealth commemoratives hold a special place in numismatic history.
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They represent the earliest commemorative coins associated with the Philippines
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They celebrate the establishment of the Commonwealth government
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Their survival was shaped by the events of World War II
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They feature portraits of Philippine and American leaders
Collectors today may encounter both well-preserved examples and sea-salvaged pieces, each reflecting a different part of the coins’ historical journey.
1936 Philippine Commonwealth Commemorative Coin Set
Collector Insight
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1 Peso – Roosevelt & Quezon
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1 Peso – Murphy & Quezon
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50 Centavos – Murphy & Quezon
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One Peso: Silver 90%, 20g, 27.5mm, Mintage: 10,000
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50 Centavos: Silver 75%, 10g, 35mm, Mintage: 20,000
A Bridge Between Two Monetary Eras
The 1936 Commonwealth commemorative coins mark an important transition in Philippine coinage.
They symbolize the shift from purely colonial imagery toward a coinage that increasingly reflected Filipino leadership and national identity.
Within the broader history of Philippine currency, these coins serve as a bridge between the U.S.–Philippine coinage era and the commemorative issues that would follow after the Philippines achieved independence in 1946.
References & Sources:
Bangko Sentral ng Pilipinas – "History of Philippine Money."
Ocampo, Ambeth R. "Yaman: History and Heritage in Philippine Money." Manila: Bangko Sentral ng Pilipinas, 2020.
Yap, Eldrich, and Janssen Bantugan. "U.S.P.I Philippine Coinage Under American Sovereignty." Philippines, 2018.
Basso, Aldo P. "Coins, Medals and Tokens of the Philippines." Menlo Park, CA: Chenby Publishers, 1968.
Continue Your Numismatic Study:
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Explore in-depth research articles: Philippine Numismatic Studies
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Browse all collector topics: Philippine Numismatics Collectors Hub
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Understand the historical context: Philippine Currency Timeline
Published Date: 4/23/2023
Last Updated: 3/14/2026