Minted for a New Era: The 1936 Philippine Commonwealth Silver Coins
- My Koyns
- Apr 23, 2023
- 2 min read
Updated: Jul 27
What do you think is the first Philippine commemorative coin?
If you check the Bangko Sentral ng Pilipinas (BSP) website, you'll find that the first listed commemorative coin is the 1947 Douglas MacArthur One Peso and Fifty Centavos silver coins—minted after the Philippines gained full independence. But commemorative coins existed even earlier.
In 1936, a special set of coins was minted to commemorate the establishment of the Commonwealth of the Philippines on November 15, 1935. These were designed by Filipino artist and engraver Ambrosio Morales.
The 1936 Philippine Commonwealth Commemorative Coin Set
This set includes three silver coins:
One Peso with Roosevelt and Quezon (facing left)
One Peso with Murphy and Quezon (facing left)
50 Centavos with Murphy and Quezon (facing each other)
All coins feature the coat of arms of the Philippine Commonwealth on the reverse.
What I Learned About These Coins (From U.S.P.I Philippine Coinage Under American Sovereignty by Eldrich Yap and Janssen Bantugan):
1. Thousands of early One Peso coins were melted to produce this set.
Coins from 1903 to 1912—especially One Peso pieces—were melted and reused, reducing the surviving mintage of earlier U.S.-Philippine issues (notably the scarce 1906 One Peso).
2. The artist added a native Filipino touch.
Morales incorporated an interlocking bamboo pattern around the coin's edge—a distinctly Filipino symbol often overlooked by collectors.
3. Many coins were lost during WWII.
Unsold sets were stored at the Manila Mint. As the Japanese forces advanced, much of the Philippine Treasury—including these coins—was moved to Corregidor. Before the fall, the submarine USS Trout smuggled out as much gold and silver as possible. The rest, including many commemorative coins, were dumped into Caballo Bay to prevent capture.
Read more about this in "The Destruction of the Philippine Treasury" on Warfare History Network.
Collectability and Value Today
Due to their historical significance and wartime fate, these coins are not cheap. Even corroded “sea-salvaged” examples are highly collectible. As of now, prices start at $350 on platforms like eBay.
If you’re lucky enough to own any of these 1936 Commonwealth commemorative coins, treasure them well—they’re a piece of Philippine history that nearly vanished beneath the waves.
Further reading:
Editors Note: This post was originally published April 23, 2023 and has been updated for accuracy and comprehensiveness.
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