buried treasure found

jeff of pa

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Ah, alas, some real treasures of the Philippines! This article may even provide some much needed historical context since its from 1899, as to why legends, such as the Yamashita treasure came about. With stories of countless "treasures" (local peoples buried life savings) found during the revolution period and now engrained in the lore of the land, it would be ripe for a legend such as Yamashita's gold to grow in the imagination some 45 years later, despite there being no credible evidence of such treasure.

It doesn't say whether it's converted from the native peso at the time, but since this was buried to hide it from the foreign occupiers and before the American's uncovered it in the burnt towns, it was likely peso's. Not sure of the exact conversion rate, but about half it to convert to US dollars.

Revolutionary Period (1898-1899)

The 1898 Declaration of Independence brought a short-lived revolutionary currency replacing the Spanish-Filipino Peso. The first Philippine president, General Emilio Aguinaldo, issued its own coins and paper currency under the Malolos Constitution.

Two types of two-centavo copper coins were introduced into the system. Revolutionary noted in denominations 1, 5, and 10 pesos were printed and hand-signed by Pedro Paterno, Mariano Limjap, and Telesforo Chuidian.

Revolutionary currency was withdrawn from circulation and declared illegal currency after the arrival of the Americans in 1898 and the eventual surrender of General Aguinaldo to the Americans.

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