Spanish-Philippine Silver and Gold Coinage 1861-1897
With the loss of Spain's American colonies, the Spanish crown shifted its focus to its remaining territories in the Pacific — most notably, the Philippines.
One of the key challenges they faced was the shortage of circulating coinage in the Philippine islands. To address this, Spain allowed the use of coins from its former colonies.
However, the inscriptions on some of these coins — particularly those referencing liberty — raised political concerns. To maintain control and suppress revolutionary sentiments, colonial authorities required these coins to be counterstamped before they could legally circulate in the Philippines.
Recognizing the growing need for locally minted currency, Queen Isabella II issued a decree for the establishment of a mint in Manila.
1. First Series
In 1861, the construction of the Casa de la Moneda y Timbre de Manila was completed. That same year, the first official coins of the Philippines were struck — gold coins in 1, 2, and 4 Peso denominations. These were followed by silver coins, which began production in 1864.
The first series of coins featured the bust of Queen Isabella II on the obverse and the coat of arms of Spain on the reverse. These coins were minted from 1861 until her abdication in 1868, following the Glorious Revolution.
Interestingly, coins struck after 1868 continued to bear the date "1868" despite being minted in later years — a phenomenon known as frozen dates.
1861-1868 Isabella Silver and Gold Coins
2. Second Series
After the fall of the First Spanish Republic, King Alfonso XII, the son of Queen Isabella II, was restored to the Spanish throne in December 1874, marking the beginning of the Bourbon Restoration in Spain.
In the Philippines, the second series of Spanish-Philippine coins featuring the bust of King Alfonso XII began production in 1880. These coins were struck in both silver and gold denominations(4P only), continuing the tradition of Spanish royal portraiture on colonial currency.
Minting of Alfonso XII coins continued until 1885, the year of the king’s untimely death at the age of 27 due to tuberculosis. As with the coinage of his mother, Queen Isabella II, the coins of Alfonso XII also featured frozen dates, with pieces bearing the date "1885" even in the years following his death.
1880-1885 Alfonso XII Silver Coins
3. Last Series
With the closure of the Casa de la Moneda y Timbre de Manila in 1889, the last colonial coin introduced in the Philippines was the 1897 Un Peso, minted in Madrid, Spain. This crown-sized silver coin features the portrait of a young King Alfonso XIII, who became monarch at birth in 1886, following the death of his father, King Alfonso XII.
1897 Alfonso XIII Un Peso
These Spanish-Philippine coins not only served as mediums of exchange but also as enduring symbols of colonial authority, political change, and cultural identity.
From the dignified bust of Queen Isabella II to the youthful profile of King Alfonso XIII, each series reflects a chapter in the Philippines’ complex colonial history. Though the Manila Mint eventually fell silent, its legacy lives on in the coins it produced — treasured artifacts that continue to fascinate collectors and historians alike, reminding us of the Philippines’ pivotal role in the broader narrative of empire, economy, and independence.
Sources & Further Reading:
2. Blog: Collecting Spanish-Philippine Coins
3. Blog: Alfonso XIII 1897 Un Peso
4. Blog: Alfonso XII 50 Centavos
Published Date: 4/6/2025