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Five pesos
(Philippines)
Value	5 pesos
Width	160 mm
Height	66 mm
Security features	Security fibers, Watermark, See-through registration device, Concealed value, Security thread
Material used	90% cotton; 10% linen
Years of printing	1985–1995
Obverse
Design	Emilio Aguinaldo, Philippine independence marker
Designer	Romeo Mananquil
Design date	1985
Reverse
Design	Declaration of Philippine independence
Designer	Romeo Mananquil
Design date	1985

The Philippine five-peso note (Filipino: Limang Piso) (₱5) was a denomination of Philippine currency. Philippine president Emilio Aguinaldo is featured on the front side of the note, while the Declaration of the Philippine Independence is featured on the reverse side. This banknote was circulated until the demonetization of main banknotes under the New Design Series on January 3, 2018.^[1] Its printing was stopped in 1995 and was replaced by coins.^[2]

History

Pre-independence

1903: Philippine Islands issued silver certificates.^[3] Features a portrait of William McKinley.
1908: Banco Español Filipino issued notes.^[4]
1918: Philippine Treasury Certificates issued with a portrait of William McKinley. Design revised from 1929 to also include the portrait of George Dewey.
1920: BPI issued notes.^[5]
1936: PNB issued notes.^[6]
1937: Philippine Commonwealth issued treasury certificate. Features the portraits of William McKinley and George Dewey on both sides of the obverse.^[7] This series were later overprinted with the word "VICTORY" on the reverse after the liberation of the Philippines under Japanese rule in 1944.^[8]
1942: Japanese government issued series.^[9] Features a farmer in a forest on the right of the obverse, with the number "5" on the center. Another version, this time featuring the Rizal Monument on the right of the obverse, was released in 1944. The banknotes ceased to be legal tender after the liberation.
1949: The five peso bill issues whoever in "VICTORY, CENTRAL BANK OF THE PHILIPPINES" at back

Version history

	Philippines (1936-1941)	Victory Series No. 66 (1944)	Victory-CBP Banknote Series (1949)
Obverse
Reverse

Independence

English series (1951–1974)

Features the portraits of Marcelo H. Del Pilar and Graciano Lopez-Jaena, two important figures of the Propaganda movement before the Philippine revolution, on the obverse. The reverse features the official newspaper of the propaganda movement, the La Solidaridad.^[10]

Pilipino series (1969–1974)

In 1967, Andres Bonifacio replaced the portraits of Del Pilar and Lopez-Jaena. The note is now predominantly green in color. On the reverse, it now features the scenario of how to be a member of the Katipunan through signing a contract by their own blood. The design of the obverse was later revised, the font for the text Republika ng Pilipinas and Limang Piso was changed, the color of the portrait of Bonifacio was changed from brown to green and geometric lines were added on the sides and the watermark area of the bill. This design was later used when the Bagong Lipunan series was released in 1973.^[11]

Ang Bagong Lipunan series (1973–1996)

In 1973, the "Ang Bagong Lipunan" text was added and was overprinted on the watermark area.^[12]

New Design series (1985–2018)

In 1985, the bill was completely redesigned and Emilio Aguinaldo replaced Bonifacio in this series.^[13] The NHCP historical marker in the Malolos Cathedral indicating the foundation of the First Philippine Republic in Filipino language, which Aguinaldo became its president) along with a cannon can be seen on the right side of the obverse. On the reverse, a scene from the Declaration of the Philippine Independence is featured. This was previously featured on the reverse of the Ang Bagong Lipunan series two peso banknote.^[14] The banknote was designed by Romeo Mananquil.

After the creation of the "Bangko Sentral ng Pilipinas", its new logo was incorporated on all the New Design series bills in 1993.

In 1995, the printing of this banknote was stopped after the Bangko Sentral ng Pilipinas released the new ₱5 coin denomination that coincided the launching of the Improved Flora and Fauna series coins and due to the release of the BSP series ₱5 coin on that same year.^[15] Because of this, it is the only banknote in the New Design/BSP Series to do not feature the printing year as it was only implemented in 1997 (10-peso notes) and 1998 (rest of the banknotes in the series) when production for the five peso note was already stopped two to three years earlier.^[16] Only 303,000,000 banknotes were produced at the time when the BSP Series name is now used (with the 1993 BSP logo) which were printed from 1993 to 1995, with the notes using the letters "MQ" in red text and 1993 logo being the last prefix used and batch of banknotes printed during its production.

However, existing banknotes, along with 10 peso banknotes, continued to be seen commonly in circulation from 1995 to 2004, and from 2004 until the demonetization of main banknotes under the New Design Series on January 3, 2018, it still had a liability of the BSP (with January 2018 submission of old banknotes are only for those who secure a receipt showing that they went to the central bank before the December 29, 2017 final deadline of submission due to not being able to accommodate several individuals who tried to exchange their notes because of the unexpected number of people who arrived) although now rarely circulated.^[17]

Version history

	English Series (1951–1974)	Pilipino Series (1969–1974)	Ang Bagong Lipunan Series (1973–1996)	New Design/BSP Series (1985–2018)
Obverse
Reverse

Commemorative issues

Throughout its existence, the five peso bill was often overprinted to commemorate certain events, namely:

State visit of President Corazon Aquino to the United States of America: In 1986, Bangko Sentral ng Pilipinas released a commemorative banknote for the commemoration of state visit of President Corazon Aquino to the United States. The overprint features the seal of the Philippine President with the words "PAGDALAW NG PANGULONG CORAZON C. AQUINO SA AMERIKA" and the date "SET. 15-23, 1986" is displayed below.^[18]
Canonization of Lorenzo Ruiz: The overprint features the first Filipino saint named San Lorenzo Ruiz with the words "KANONISASYON NG PINAGPALANG SAN LORENZO RUIZ" and the date "OKTUBRE 18, 1987".^[19]
40th anniversary of the Bangko Sentral ng Pilipinas: BSP released the overprint in commemoration of its 40th anniversary. It is printed in red, has the words "IKA-40 ANIBERSARYO" and "BANGKO SENTRAL NG PILIPINAS - 1949-1989" and features its building in Manila.^[20]
Commemoration of Women's rights: The overprint features a portrait of a woman holding a Philippine flag and around it has the words "KABABAIHAN PARA SA KAUNLARAN - 1990".^[21]
Plenary Council of the Philippines: Features a cross, the Philippine map on the lower-right corner of the circle, and the PX monogram. Around it are the words "UNITE ALL THINGS UNDER CHRIST (EPH 1:10)", "II PLENARY COUNCIL OF THE PHILIPPINES", and below it is the date "20 JANUARY TO 17 FEBRUARY 1991". This is the only time the overprint is in English language and the only commemorative banknote that features the signature of BSP governor Jose L. Cuisia, Jr.^[22]

Printing years

Banknote series	Year	President of the Philippines	BSP Governor
English Series	1951–1953	Elpidio Quirino	Miguel Cuaderno Sr.
	1953–1957	Ramon Magsaysay
	1957–1960	Carlos P. Garcia
	1961	Carlos P. Garcia	Andres V. Castillo
	1961–1965	Diosdado P. Macapagal	Andres V. Castillo
	1970	Ferdinand E. Marcos	Gregorio S. Licaros
Pilipino Series	1969–1970		Alfonso Calalang
Pilipino Series	1969–1970		Gregorio S. Licaros
Ang Bagong Lipunan Series	1973–1981		Gregorio S. Licaros
	1981–1984		Jaime C. Laya
	1984–1985		Jose B. Fernandez Jr.
New Design Series	1985–1986
	1986–1990	Corazon C. Aquino
	1990–1992	Corazon C. Aquino	Jose L. Cuisia Jr.
	1992–1993	Fidel V. Ramos	Jose L. Cuisia Jr.
	1993–1995	Fidel V. Ramos	Gabriel C. Singson