Barter rings
{{Short description|Ancient Filipino currency}}
{{more citations needed|date=October 2021}}
{{Use Philippine English|date=March 2023}}
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File:Piloncitos ang gold rings.jpg.]]
File:Naturales 3.png royal couple with carious gold ornaments including the gold rings.]]
Barter rings (Tagalog: panika) are ring-shaped gold ingots used as currency in the Philippines until the 16th century. These barter rings are bigger than a doughnut in size and are made of nearly pure gold.
Description
The early Filipinos traded piloncitos along with barter rings.{{Cite web |url=http://www.metmuseum.ph/permanenttraveling.php?page=classicalgoldwork |title=Metropolitan Museum of Manila, Philippines: Art for All - www.metmuseum.ph |access-date=March 23, 2017 |archive-url=https://web.archive.org/web/20121215062936/http://www.metmuseum.ph/permanenttraveling.php?page=classicalgoldwork |archive-date=December 15, 2012 |url-status=dead }}
Barter rings varies in thickness with a dual purpose: round hollow circlets of gold used as earrings or anklets by kadatuan and high-ranking nobility, aside for money.{{cite news |title=Yaman |url=https://mb.com.ph/2021/06/28/yaman/ |work=Manila Bulletin |date=June 28, 2021}} They are also very similar to the first coins invented in the Kingdom of Lydia in present-day Turkey. Barter rings were circulated in the Philippines up to the 16th century.{{Cite web |url=http://www.metmuseum.ph/permanenttraveling.php?page=classicalgoldwork |title=Metropolitan Museum of Manila, Philippines: Art for All - www.metmuseum.ph |access-date=March 23, 2017 |archive-url=https://web.archive.org/web/20121215062936/http://www.metmuseum.ph/permanenttraveling.php?page=classicalgoldwork |archive-date=December 15, 2012 |url-status=dead }} As the discovery of gold deposits were seen by the locals, the precious metal was mined and worked in the Philippines, evidenced by many Spanish accounts like one in 1586 that stated:
{{Blockquote|“The people of this island (Luzon) are very skillful in their handling of gold. They weigh it with the greatest skill and delicacy that have ever been seen. The first thing they teach their children is the knowledge of gold and the weights with which they weigh it, for there is no other money among them.”{{cite news |last1=Ocampo |first1=Ambeth R. |title='Piloncitos' and the 'Philippine golden age' |url=http://opinion.inquirer.net/10991/%E2%80%98piloncitos%E2%80%99-and-the-%E2%80%98philippine-golden-age%E2%80%99 |work=INQUIRER.net |date=30 August 2011 |language=en}}}}
See also
- Piloncitos and Siamese photduang
- History of Philippine money
- Philippine peso, the currency of the modern Philippines.
- Philippine real
- List of historical currencies
References
{{reflist}}
External links
- https://asiasociety.org/new-york/exhibitions/philippine-gold-treasures-forgotten-kingdoms
- [http://www.bsp.gov.ph/bspnotes/evolution/page2.asp Central Bank of the Philippines – Money museum]
- {{Cite web |url=http://coin.filipinonumismatist.com/2011/06/piloncitos-treasure-of-philippine.html |title=Philippine Coin Information: PILONCITOS: The treasure of Philippine numismatic |access-date=October 5, 2021 |archive-date=February 19, 2020 |archive-url=https://web.archive.org/web/20200219181808/http://coin.filipinonumismatist.com/2011/06/piloncitos-treasure-of-philippine.html |url-status=dead }}
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{{succession box|title= Philippine currency
c.10th −16th century |before= No modern currencies
(Barter or Sigay) |after= Philippine real}}
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{{Philippine peso history}}
Category:Modern obsolete currencies