Remark: The first Philippine coins came into existance around 1830. At that time many South American Spanish colonies became independent republics. However, they continued to trade with their former trade partners -- the Philippines being one of them -- but using their new coinage. The Spanish authorities were wary that these new coins, which did not bear the profile of the Spanish monarch but carried words like "LIBERTAD" (liberty), would incite a rebellion in the Philippines. To make them "Spanish" issues, they added the seal of the king or queen of Spain at the time: King Ferdinand VII and Queen Isabella II (hence, F7 and YII). These counterstamps were used to legitimize the coins that arrived (as Spain did not recognize those country's independence until several years after). Growing from the Philippines' practise of punching holes in coins (so as to attach them to money belts), coins which bear counterstamps on the holes are extremely rare and desireable.
Remark: Silver coins bearing Isabella's image were struck from 1864 to 1868, and then again from a few years after using the 1868 dies (hence the reason 1868 is the most common year for this series). Coins in this issue are very similar to their Spanish counterparts. The only difference was the denomination they had: centimos de peso instead of pesetas.
Remark: Silver coins bearing the image of King Alfonso XII (who succeeded Isabella) were struck from 1880 to 1885 and are similar to their earlier Isabella counterparts. Here too, minting continued for a few years using the 1885 die. Coins of this issue differ from their Spanish counterparts in the denomination and the fact that King Alfonso faces in the other direction.
Remark:A very small number of gold coins bearing Alfonso's image were minted. Many mintage years are reported, but only 1882 and 1885 are confirmed. All of these issues from any year are rare.
Remark: A new one peso coin was struck in 1897 with the profile of the boy King Alfonso XIII. This coin was only minted for 1 year, and is, at the same time, the first silver coin to bear the name of the Philippines (Islas Filipinas) and the very last coin issued by Spain in the Philippines.
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