The Philippine peso is the official currency of the Philippines. The official currency symbol: ₱. The currency’s name is also known by its Filipino name, “piso”. The Philippine peso is derived from the Spanish peso, which were imported in huge quantities from Spain by Manila galleons from the 16th to 19th centuries.
After the Philippines achieved its independence in 1946, no coins were cradled for the republic until 1958. In that year, there was a change in the size of all the coins used before the date and the coins were sized to the same diameter as their American equivalents. In 1967, a new series of coins was introduced in which the Pilipino language was used for the first time. In 1995, the Bangko Sentral ng Pilipinas (BSP) introduced a new series of coins, which is still circulating today. Only this current series of coins are legal tender after the Bangko Sentral ng Pilipinas issued BSP Circular No. 81, which called for the demonetization of all previous existing Central Bank coins minted before 1995. The series include coins in denominations of 1, 5, 10 and 25sentimo, piso and 5 piso. The 10 piso coin was minted in 2001. The Bangko Sentral ng Pilipinas introduced the New Generation Currency Coin Series in 2018. The 10 sentimo coin was left out of this series as it was discontinued as a general circulation coin.
The 1 Philippines piso coin front design features the portrait of José Protasio Rizal Mercado (1861 – 1896), who was a Filipino nationalist and polymath during the tail end of the Spanish colonial period of the Philippines. The portrait is completed with the name of the country, the denomination and the issue date.
The reverse of the coin presents the Waling-waling flower and logo of the Bangko Sentral ng Pilipinas. This coin is part of the 2017 – 2019 series; its rim is segmented and fluted. Its color is silver.
Text: REPUBLIKA NG PILIPINAS 1 PISO 2018 JOSE RIZAL, WALING- WALING BANGKO SENTRAL NG PILIPINAS.