What does PILONCITOS stand for? 

Piloncitos

Piloncitos (also known as bulawan, and as "granitos de oro" in very early records) are small "bead-like" pieces of gold which were used as currency during the Philippines' Archaic period and in the earliest years of the country's Spanish colonial period. These gold pieces have been excavated from sites throughout the Philippine archipelago: Mandaluyong, Bataan, the banks of the Pasig River, Batangas, and Marinduque in Luzon; Samar and Leyte in the Visayas; and in some areas in Mindanao.The term "Piloncitos" is a contemporary word, used by modern day antique collectors, who thought that the cone-shaped pieces looked like a pilon of sugar. Early historical descriptions of the term include the spanish "granitas de oro" (small grains of gold), or simply by whatever local language terms were used to mean "gold" in those times, such as "bulawan."Piloncitos are presumably an offshoot of silver coinage and may have evolved into the bullet or pod duang coinage of Sukhothai in Thailand.

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