History of the Philippine Monetary System
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Questions and Answers

The name 'Peso' is derived from the Mexican peso.

False

Chinese merchants primarily traded spices with the precolonial Filipino tribes in the barter system.

False

Gold barter rings were used in the Philippines during the 16th century.

False

The Piloncitos are bead-like gold coins with round sides.

<p>False</p> Signup and view all the answers

Magellan's expedition brought Chinese porcelain to the Philippine shores in 1521.

<p>False</p> Signup and view all the answers

The Mexican coins called cabo de bara de plata were widely circulated during the reign of King Philip II.

<p>False</p> Signup and view all the answers

The first coin minted in the Philippines was put into circulation during the reign of King Philip V.

<p>True</p> Signup and view all the answers

The barillas were produced by the monarchy of Spain when there was a shortage of fractional coins.

<p>False</p> Signup and view all the answers

The Spanish dos mundos coin, featuring twin crowned globes, circulated only in the Philippines during the height of the galleon trade.

<p>False</p> Signup and view all the answers

The colderillas were quickly replaced by another version of the barilla bearing the bust of Carlos III.

<p>True</p> Signup and view all the answers

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