- Philippines released a 100,000 peso bill in 1998 for the commemoration of 100th Philippine Independence
- The said note was the largest in the world in terms of size, with the size of 14x8.5 inches
- Central Bank printed a thousand pieces of the note and a specimen is currently displayed in the Bank’s museum
Philippines printed a 100,000 peso bill and it is the biggest in the world, not by its denomination, but by its size. The bill is reportedly has the size of 14x8.5 inches, which is an inch larger than a legal bond paper.
The 100,000 bill was made in 1998 as a commemorative bill in the celebration of 100th anniversary of the Philippine Independence. The scene at the back of the note shows the declaration of Philippine Independence of Gen. Emilio Aguinaldo in Kawit, Cavite similar to the scene depicted on the bank of the decommissioned five peso bill. Meanwhile, the front shows the scene in Sigaw ng Himagsikan or the Sigaw ng Pugad Lawin.
In 1998, the bill costs 180,000php, which is 80,000 higher than its denoted value. However, the price may go up depending on how much the collectors are willing to pay for it. Moreover, the condition of the bill affects its value. If it is in mint condition, its value is definitely higher.
Although it is unconfirmed, it was reported that only a thousand pieces of this note were printed. The specimen of the note is currently housed in the Bangko Sentral ng Pilipinas.
Meanwhile, other countries frown on making and using high denomination bills. For example, US previous issued a $10,000 bills during the Prohibition Era in 1920s, but it was used by gangsters as mode of payment for the illegal sale of alcohol. Criminal groups prefer to transact with cash.
In European Union, 500 euro note was commonly used by organized crime to its transactions. It is easier to transact with high denomination bills, especially when we are talking about large sums of money. It is less conspicuous and easy to transport. Those are the main reasons why criminals prefer high denomination bills.