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The history of Uncut Dollars in the Philippines is a closely guarded secret.  The most likely story is that the United States, while under President Ronald Reagan in the 1980s, purchased a large amount of gold from Philippine President Ferdinand Marcos.  This would have been a private purchase as the source of the Marcos gold would have been through his personal, private activity as a treasure-hunter.

It is quite likely that Reagan intended to circulate a new gold-backed US Dollar.  Although never officially announced, US banks began receiving a new currency in the late 1980s from the US Treasury that was printed in many colors.  It was called “rainbow money” by bank employees who were instructed not to mention them to the public.  The new money was never circulated.

Any plan to back the US Dollar with gold may have been abandoned in 1989 under the administration of President George H. W.  Bush.  We have been unable to find any photograph of the rainbow money, but we have interviewed former bank employees in the US who have attested to its existence.

Regardless of their purpose or origin, US Dollars were shipped to the Philippines (or, as some say, printed in the Philippines with US-loaned printing equipment) as uncut sheets.  One rumored idea is that Reagan had promised to ship cutting equipment to Marcos sometime after the money was shipped.  Reagan may have been certain that Marcos would soon be deposed, and therefore not very concerned about ever having to fulfill such a promise.  The promise would have been made to Marcos as a private citizen, and not as an obligation to the Philippine Government.  This scheme, if true, coupled with the idea of replacing the old money with the new rainbow notes, may have meant that Reagan had intended to deceive Marcos no matter what ensued.

Nonetheless, the US Treasury still recognizes Marcos-era Uncut Sheets as genuine and honors them as redeemable currency.  Unfortunately, as with any older US currency, the US Treasury will not receive them in the Philippines, and very limited clearances are granted to export them legally.  Our Group has such clearance. 

The Marcos-era Uncut Sheets (also known as Treasury Uncut Currency) were printed as 32-subject (4 wide, 8 down).  The Serial Number progression for a typical 5000-skip sheet and each note’s Plate Position are shown here:

00000000 A1	00020000 E1	00080000 A3	00100000 E3
00005000 B1	00025000 F1	00085000 B3	00105000 F3
00010000 C1	00030000 G1	00090000 C3	00110000 G3
00015000 D1	00035000 H1	00095000 D3	00120000 H3
00040000 A2	00060000 E2	00120000 A4	00140000 E4
00045000 B2	00065000 F2	00125000 B4	00145000 F4
00050000 C2	00070000 G2	00130000 C4	00150000 G4
00055000 D2	00075000 H2	00135000 D4	00155000 H4

The lower right serial number here is 155,000 greater than the upper left.  Thus, this sheet has a “skip” of 5000, calculated as 155,000 / 31 or simply the A1 number subtracted from the B1.

Contrary to the story circulated by scammers, Marcos never issued any Letter of Instructions regarding Uncut Sheets.  We have thoroughly researched all 1525 LOIs issued by Marcos from 22 Sept 1972 to 6 Feb 1986.  Each is numbered.  Curiously, these fake LOIs are not numbered.

Eventually, the US Treasury pays us 1 to 1 (100% of Face Value) for Uncut Sheets, but it is a long, complex, slow process.  Fortunately, our Group will pay Holders immediately for Uncuts here in the Philippines.   We require a discount to cover expenses such as licensing, insurance, shipping, banking fees, taxes, etc., leaving us with a very small but sure profit.

Here are the Uncut payouts (NO NEGOTIATING):

      1:1 SPLIT 60-10-10-20