We have taught by our beloved teachers about the Barter during those times. It is the way trade among the early Filipinos and with traders from neighboring islands was conducted. 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. The word is derived from Spanish "Piloncitos", meaning "little weights."

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

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. That gold was mined and worked in the Philippines is evidenced by many Spanish accounts, like one in 1586 that stated: “The people of this island which is Luzon, are very skillful in their handling of gold. They weigh it with the greatest skill and delicacy that have ever been seen. The first thing they teach their children is the knowledge of gold and the weights with which they weigh it, for there is no other money among them.”

As of this writing, say 2020, the price of Gold in the Philippines is Php 3,000 more or less per gram. Depending on the quality, someone could sell a Piloncito for as much as Php 100,000. On an auction, one 2.65 gram Piloncitos was sold at Php 125,000.

Trying to collect Philippine Coin? You might consider looking for a Piloncito, along with Alfonsinos and Alfoncito Corto.

Cheerio!