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Philippines |
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Gold coins and other museum treasures |
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Source: Inquirer |
Author: Ambeth Ocampo |
Date: 2000-08-04 |
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WASHINGTON, D.C.--What draws
people to particular exhibits when
they enter a museum? Is it the
historical or artistic value of the
object on display, or is it the
monetary worth of an artifact? At the National Gallery, I
watched a woman take a snapshot of the only work of Leonardo
da Vinci this side of the United States. I wanted to suggest that
it would be cheaper and better to buy a postcard, but that was
rude so I quietly observed her. When the guard approached I
expected him to reprimand the camera bug about flash
photography and how it contributes to the deterioration of old
paintings.
To my surprise the guard asked the woman hurrying on the way
out, ''Do you know how much it is worth?" Stopped from
heading off to the next item on her souvenir photo hunt, the
woman gasped when told the painting was worth $150 million.
Only then did she give the Da Vinci a second glance. She even
had to be prodded to see the back of the painting where Da
Vinci paid more praise to the beauty of his sitter. I guess Da
Vinci, in the popular mind, is associated more with the star of
the movie ''Titanic'' than the great Italian painter.
When I send students to the collection of pre-colonial artifacts
in the Central Bank, they make a quick tour of the earthenware
pottery, but are awed by the pre-colonial Philippine gold.
Museum-goers are probably the same everywhere whether it be
Manila or Washington, D.C. At the National Museum of
American History, I walked through a hall filled with coinage
and banknotes from around the world. Money always attracts
attention so the hall was filled with visitors. Naturally, gold
attracted more people than paper money and a multitude of
coins made of lesser metals. In a small room filled with gold
coins, I was drawn to the Spanish coins as these reminded me of
tales of maps, pirates and buried treasure I read avidly when I
was a boy. Though the profiles of Spanish Kings Carlos III and
Ferdinand VII were everywhere, I was surprised to find out that
many of these coins were minted outside Spain. How these gold
onzas came from Spain's South American colonies and traveled
to the Philippines is a story in itself. The coins reminded me of a
time when the Catholic kings could boast of an overseas empire
where the sun, literally, did not set.
My interest in Philippine gold coins stemmed from the Manila
visit of Bill Gates some years ago. What do you give a man who
has everything? Well, the Ayala Corp. presented Gates with a
boxed set of gold coins minted in the 19th-century Philippines.
There were three coins of .875 gold in varying sizes depending
on the denomination: the smallest at P1 weighed 1.6915 grams,
P2 at 3.3830 grams and the biggest at P4 weighing 6.7661 grams.
All coins carried the bust profile of the pudgy Spanish Queen
Isabel II on one side and the Spanish coat of arms on the
reverse. These gold coins are sometimes referred to as
"Isabelinas."
If you want to see a statue of Isabel II in Manila you will find
her standing outside Puerta Isabel in Intramuros facing the
Bureau of Immigration and the National Press Club. A
fascinating etymological aside from Alejandro Roces is that
Isabel, notorious for her lovelife, gave us pera, the Philippine
word for money. Roces says that when 19th-century coinage
carried the likeness of Isabel II, her detractors referred to her as
la perra (the bitch) and this simply caught on to become our
pera.
A royal decree in 1861 established the Casa de Moneda in
Manila that melted down gold onzas from South America
circulating in the Philippines and converted these into the gold
Isabelinas that proudly carried the name "Filipinas" on the
reverse of the coin below the Spanish coat of arms. Officially,
Isabelinas were minted from 1861, the year the Casa de Moneda
was founded, to 1868 when Isabel was deposed. Coins carrying
the profile of Alfonso XII were minted but according to
tradition, people preferred Isabelinas which were thus
continuously minted in Manila till 1877 but kept the minting date
1868. This explains why 1868 Isabelinas are relatively easy to
find today. The international value of Isabelinas varies
according to rarity and condition. One coin catalogue puts the
following price ranges for Isabelinas: P4 can be had for as low
as $100 and as high as $8,000. Two pesos from $50 to $3,000 and
P1 from $45 to $1,000. Whatever they are worth in terms of gold
value, Isabelinas are important not only as the first gold coins
minted in the Philippines, but Isabelinas also mark the first time
the country's name "Filipinas" appeared on its coinage.
While the Philippines is one of the major sources of gold in the
world--once upon a time we were one of the top 10 producers of
gold worldwide--we hardly see or use gold coins today. When
the Isabelinas ceased to be minted, gold continued to be
panned and mined in the Cordilleras or Paracale, yet the
Philippines did not mint gold coins from the 19th century till
1970 when a commemorative coin was struck to mark the Manila
visit of Pope Paul VI. Where did all that Philippine gold go?
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