BSP highlights limited edition P100,000 bill on Heroes’ Day

RARE NOTE Only 1,000 pieces of the P100,000 bill were printed in 1998 to mark the country’s 100th year of independence. It is available for sale at the Bangko Sentral ng Pilipinas (BSP) store. —Photo from BSP Facebook page

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) marked National Heroes Day on Monday by featuring the 100,000-Piso Centennial commemorative bill from its numismatic collection.

Only 1,000 pieces of the banknote was printed in 1998 to celebrate the 100th anniversary of Philippine independence. The collectible item measures 8.5 x 14 inches and can be purchased at the BSP store at face value. It comes with a certificate of authenticity.

READ: BSP launches 125th independence day commemorative coin set

At the time of its release, the bill was accredited by the Guinness Book of World Records as the world’s largest legal tender note. It was also the biggest legal tender issued by the BSP in terms of face value.

The obverse of the 100,000-Piso bill showcases a symbolic scene of the struggle for the country’s independence in 1896: the Sigaw ng Himagsikan led by Andres Bonifacio, the Supremo of the Katipunan, in defiance of Spanish tyranny.

Its reverse features the proclamation of Philippine independence led by Gen. Emilio Aguinaldo on June 12, 1898, in Kawit, Cavite. On this occasion, the Philippine flag made by Marcela Agoncillo was unfurled while the national anthem composed by Julian Felipe was played.

Along with the 2,000-piso Centennial commemorative banknote, the 100,000-piso note has been demonetized—no longer acceptable as payment for any transaction—since Aug. 2, 2018, via BSP Circular No. 973 series of 2017. The 2,000 bill, also known as the “New Millennium Note,” depicts the oath-taking of former President Joseph Ejercito Estrada. It was likewise printed in 1998 to mark the centennial of the country’s independence.

Explaining the demonetization, a 2017 central bank circular said the two rare banknotes had “served their commemorative purpose.” The BSP at the time offered to buy back the bills at full face value in the holder’s desired denomination.

The BSP releases commemorative notes to memorialize an event of historic significance to the country. Usually, these are printed in limited volumes and set apart from banknotes intended for circulation. They are also overprinted with an emblem or text descriptive of the theme or occasion being celebrated.