In 1565- Galleon Trade started during the colonization of the Philippines and it lasted for 250 years.It transformed Manila into a trade center for oriental goods.Two odd-shaped silver coins used in this era: Cobs Macuquinas
In 18th century- the Royalty of Spain authorized the production of copper coins by the Ayuntamiento or Municipality of Manila in response to the acute shortage of fractional coins.In 1728- the production of copper coins appeared and was called barillas.
Counterstamps- the first Philippine coins came into existence around 1830.
Silver and Gold CoinsIn 1857- Queen Isabela II issued a degree, ordering the founding of the Casa De Moneda De Manila in the Philippines with the sole purpose of coining gold.Then it was established in 1861.
Silver coin bearing Isabella’s image were struck from 1864-1868.
Silver coins bearing the image of King Alfonso XII (who succeeded Isabella) were struck from 1880-1885.
A new one peso coin was struck in 1897 with profile of the boy King Alfonso XIII.
This coin was only minted for one year, and at the same time, the first silver coin to bear the name of the Philippines “Islas Filipinas”.This was the very last coin issued by Spain in the Philippines.