2 piso 1981

Common. This commemorative note had a substantial circulation print run typical of Philippine Central Bank issues from the 1980s. The eBay price history shows consistent sales in the $1-3 range for UNC examples from 2013-2023, with occasional PMG-graded examples reaching $15-33, but the modal price point and frequency of listings indicate this is a readily available note in the collector market. The 2019 catalog value of $2 for UNC condition confirms common status. While commemorative in nature, it was not a limited or short-run issue, and examples remain widely available.

This commemorative issue celebrates two pivotal moments in Philippine history: the portrait of Jose Rizal, the national hero and intellectual father of Philippine nationalism, and the reverse depicting the June 12, 1898 Declaration of Independence proclaimed from Aguinaldo's mansion balcony. The 1981 overprint marking Pope John Paul II's papal visit represents a significant moment in Philippine religious and political history, overlaid on the standard 2 Piso design (P-159) to create this limited commemorative edition.

The obverse features a left-facing profile portrait of Jose Rizal, the 19th-century Filipino nationalist, writer, and martyr, rendered in blue ink against a multicolor background incorporating ornamental botanical motifs in orange/gold tones and fine geometric line work in light green/teal. A circular seal of the Bangko Sentral (Type 4) appears at center-right, bearing heraldic imagery including a cross and institutional markings. Denomination numerals '2' are positioned in the upper left and lower right corners. The reverse depicts the historical scene of General Emilio Aguinaldo proclaiming Philippine independence on June 12, 1898, shown as a formal gathering of multiple figures on the balcony of Aguinaldo's mansion, with colonial-style architecture including columns and railings rendered in fine engraving. Circular medallions containing the numeral '2' flank the top, with ornamental geometric borders and fine line-work backgrounds completing the design in blue and gold/orange on a cream base.

FRONT SIDE: 'Republika ng Pilipinas' (Republic of the Philippines) — 'Ang salaping papel na ito ay isang bayarin ng Bangko Sentral at lubos na pinaanagutan ng Pamahalaan ng Republika ng Pilipinas' (This paper money is a legal obligation of the Central Bank and is fully guaranteed by the Government of the Republic of the Philippines) — 'Jose Rizal' (identifying the portrait subject) — 'Pangulong ng Pilipinas' (President of the Philippines) — 'Bangko Sentral' (Central Bank) — 'Dalawang Piso' (Two Piso) — Serial number 'RY213075'. BACK SIDE: 'Pahayag ng Kasarinlan ng Pilipinas noong Hunyo 12, 1898' (Declaration of Independence of the Philippines on June 12, 1898) — 'Balkonahe ng Mansiyong Aguinaldo' (Balcony of the Aguinaldo Mansion) — 'Dalawang Piso' (Two Piso) — 'Piso' (Piso).

Intaglio engraving (copperplate/steel engraving), evidenced by the fine line detail work visible throughout both sides, particularly in the portraiture of Rizal and the historical scene engraving on the reverse. The multiple color effects (blue, gold, green/teal, cream) indicate multicolor printing, likely accomplished through sequential multiplate intaglio registration or a related advanced security printing technique employed by the Central Bank of the Philippines' contracted security printer. The complexity of geometric patterns, fine line security features, and sharp definition throughout suggests professional banknote-grade intaglio production.

This is a commemorative overprint variety of the standard P-159 (2 Piso 1978 design) featuring a black commemorative overprint at center-right marking Pope John Paul II's February 17-22, 1981 visit to the Philippines. The note uses Central Bank Seal Type 4. Standard prefix letters appear before the serial number (observed as 'RY' in the example); replacement notes feature a '+' prefix before the serial number. This specific variety has the same catalog designation P-166 and was issued only in 1981 for this commemorative purpose.