PHILIPPINES. Piloncito, ND (ca. 10th-11th Century). NEAR MINT.
Weight: 2.28 gms. Legarda-pg. 8; Legarda & Bantug-pg. 3; Philippine Numismatic Monograph -#18 1973, Pg. 25. This bead-like pre-Hispanic gold coin is no larger than a pea and shaped like a round cone, with what appears to be an upside down "R". The upside down "R" is from the ancient Tagalog script representing the syllable "MA". From our research the significance of this has not yet been determined. It has been suggested that the syllable could stand for "Ma-I" (or Ma-Yi or Ma-it), the name by which one of the Philippine islands was known in pre-Hispanic times. Other possible interpretations include "Madjapahiti", or even for "Mas", the standard weight of gold used all over Southeast Asia. The largest Piloncito corresponds in weight almost exactly to the weight of one mas (2.65 g) and the smallest known weigh 0.09 g. These gold bits may have been named "Piloncito" due to their similarity in shape to the receptacles for sugar known as a "Pilon". It is noteworthy that this particular character appears only on the Philippine Piloncitos and differentiates it from the almost identical counterpart pieces from Java and Siam. The uniformity of appearance makes it plausible that they indeed represent a form of coinage used by the ancient Filipinos.
Estimate: $1200.00 - $1600.00