Piloncitos

Piloncitos (also known as Bulawan) are tiny engraved gold coins found in the Philippines from the Archaic period (pre-Hispanic era).

Trade among the early Filipinos and with traders from the neighboring islands was conducted through Barter. The inconvenience of barter later led to the use of some objects as a medium of exchange. Gold, which was plentiful in many parts of the islands, invariably found its way into these objects that included the Piloncitos, small bead-like gold bits considered by the local numismatists as the earliest coin of ancient Filipinos, and gold barter rings.

Piloncitos is presumably an offshoot of the silver and may have evolved into the bullet or pod-duang coinage of Sukhothai in Thailand.

Since the ancient times, gold has been one of the main products of the islands. Both ancient and modern day goldsmiths exude exquisiteness in their craftsmanship in making pieces for trade or for personal vanity and prestige.

Piloncitos is the earliest form of precious metal based currency of the Kingdom of Tondo, Namayan and Rajahnate of Butuan in present day Philippines. It is likely made of pure gold with a weight ranging between 0.5 grams to more or less than 3 grams. Piloncitos are tiny engraved bead-like gold bits unearthed in the Philippines. They are the first recognized coinage in the Philippines circulated between the 9th and 12th centuries. They emerged when increasing trade made barter inconvenient.

Piloncitos are so small—some are of the size of a corn kernel—and weigh from 0.09 to 2.65 grams of fine gold. Large Piloncitos weighing 2.65 grams approximate the weight of one mass. Piloncitos have been excavated from Mandaluyong, Bataan, the banks of the Pasig River, Batangas, Marinduque, Samar, Leyte and some areas in Mindanao. They have been found in large numbers in Indonesian archeological sites leading to questions of origin. Were Piloncitos made in the Philippines or imported? That gold was mined and worked here is evidenced by many Spanish accounts, like one in 1586 that said:

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