page_title: History of Philippine money
section_title: Spanish era (1565–1898)
hierarchical_section_title: History of Philippine money / Spanish era (1565–1898)
caption_attribution_description: Silver peso of Philip V. (a.k.a. Spanish dollar). Mexico mint. Dated 1739 Mº (Mexico monogram). VTRAQVE VNVM * Mº * 1739 * Mº, crowned hemispheres between pillars with banners inscribed, PLUS and VLTRA. PHILIP • V • D • G • HISPAN • ET IND • REX *, crowned arms; *M/F/* to left, */8/* to right.
context_page_description: The history of Philippine money covers currency in use before the Hispanic era with gold Piloncitos and other commodities in circulation, as well as the adoption of the peso during the Hispanic era and afterwards.
  The Philippine peso is ultimately derived from the Spanish peso or pieces of eight brought over in large quantities by the Manila galleons of the 16th to 19th centuries. From the same Spanish peso or dollar is derived the various pesos of Latin America, the dollars of the US and Hong Kong, as well as the Chinese yuan and the Japanese yen.
context_section_description: The Spanish silver peso worth eight reales was first introduced by the Magellan expedition of 1521 and brought in large quantities by the Manila galleons after the 1565 conquest of the Philippines. See Spanish dollar. The local salapi continued under Spanish rule as a half-peso coin. Additionally, Spanish gold onzas or eight-escudo coins were also introduced with identical weight to the Spanish dollar but valued at 16 silver pesos.
caption: Silver columnario peso imported from Spanish Latin America 1726–1770.
exif: {}