Piso Denomination: Modern Coins of the Philippines

Illustrated Specimen Details: Nickel Brass 5 Piso

Example Specimen: 5 piso, 1998 (Republic of the Philippines)

Authority & Heraldry: The obverse features the right-facing profile of Emilio Aguinaldo, the first President of the Philippines, surrounded by the inscription REPUBLIKA NG PILIPINAS and the denomination 5 PISO. The reverse displays the official seal of the central bank, encircled by the text BANGKO SENTRAL NG PILIPINAS. Notably, the reverse carries the date 1993 (the founding year of the newly restructured central bank), while the actual year of minting (1998) is located at the bottom.

1. REPUBLIC OF THE PHILIPPINES (1967-present): 1 piso = 100 sentimo.

PISO as coin name: The piso is a direct linguistic adaptation of the Spanish peso. While "Philippine peso" remains the standard English translation, the official name on the coins themselves is "Piso". Prior to 1967, Philippine coinage used English or Spanish inscriptions (Peso / Centavo). However, with the introduction of the Pilipino Series in 1967, the country shifted its currency inscriptions to the native Tagalog (Filipino) language, permanently establishing Piso and Sentimo as the standard national coin denominations.

History and Design of the 5 Piso Coin (BSP Series)

This 5 piso coin is part of the BSP Coin Series, which circulated widely in the Philippines from 1995 until the introduction of the New Generation Currency (NGC) series in 2018. It is a quintessential example of modern Philippine numismatics, blending national history with economic evolution.

The Two Dates: 1993 vs. 1998

A common source of confusion for novice collectors is the presence of two distinct years on the reverse of this coin. The large 1993 explicitly commemorates the establishment of the Bangko Sentral ng Pilipinas (BSP). Under the New Central Bank Act of 1993, the BSP was created as an independent monetary authority, replacing the older Central Bank of the Philippines (established in 1949). The actual year of minting for this specific specimen — 1998 — is struck directly at the bottom rim of the reverse.

Historical Iconography: Emilio Aguinaldo

The obverse honors Emilio Aguinaldo, a central figure in the Philippine struggle for independence. As a revolutionary, statesman, and military leader, Aguinaldo led Philippine forces across three distinct conflicts: against Spain in the Philippine Revolution (1896-1898), alongside the Americans in the Spanish-American War (1898), and eventually against the United States during the Philippine-American War (1899-1901). He was officially recognized as the first President of the Philippine Republic.

Mints and Production

Due to the massive demand for circulating coinage in the rapidly growing Philippine economy during the 1990s, the Bangko Sentral ng Pilipinas could not strike all coins domestically at their Quezon City facility. As a result, production of the 5 piso coin was frequently outsourced. Specimens like this one were minted by the Royal Canadian Mint (Winnipeg) and typically lack a mintmark. Conversely, coins struck locally by the Philippine mint feature a small micro-logo located just below Aguinaldo's bust.

Key takeaway

The piso is the Tagalog-language iteration of the peso, representing the foundation of modern Philippine currency. This 1998 specimen highlights the nation's first president, Emilio Aguinaldo, and marks the modern era of the independent Bangko Sentral ng Pilipinas.