Philippines new 2,000-peso numismatic product confirmed

In 2000, five million 2,000-piso banknotes were printed featuing features the inauguration of President Joseph “Erap” Estrada at Barasoain Church in Bulacan on 10 June 1998. These notes were intended to be issued as legal tender in 2001, but President Estrada was ousted from office that year, so the notes were stored in the vaults of Bangko Sentral ng Pilipinas. As of 2010, the bank was considering destroying the bulk of these unissued notes (known as “New Millennium” or “Erap” notes), saving only 50,000 pieces which would be demonetized for “historical, educational, numismatic and other purposes.” It wasn’t until 2012 that the bank began selling this numismatic product in a folder that clearly stipulates that the notes are not legal tender.

2,000 pesos
Blue, violet, green, yellow, orange, and red. Front: Malolos Constitution scroll; Barasoain Roman Catholic church in Malolos City, Bulacan; Joseph “Erap” Estrada taking oath of presidency on 30 June 1998; bank seal. Back: Fidel “Eddie” Valdez Ramos waving flag to celebrate centennial of independence on 12 June 1998 at Aguinaldo Shrine in Kawit, Cavite. Windowed security thread with demetalized 2000. Watermark: Estrada and Ramos. Printer: Unknown. 160 x 66 mm.
a. 2001. Signature Joseph “Erap” Estrada and Rafael B. Buenaventura. Intro: 2012.

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