BSP releases new coins

  • Page Views 2998
  • The Bangko Sentral ng Pilipinas (BSP) yesterday released the full set of the New Generation Currency (NGC) Coin Series comprised of the 10-Piso, 5-Piso, 1-Piso, 25-Sentimo, 5-Sentimo and the 1-Sentimo into circulation.

    The BSP said that the NGC Coin Series design features enhanced the aesthetics and security of the coins.

    In particular, micro-printed details using laser-engraving technology were included in the two highest denominated coins, the 10-Piso and 5-Piso, which makes it difficult for these coins to be duplicated using traditional coin counterfeiting methods, the central bank said.

    The metallic composition of the NGC coins also discourages the illegal practice of hoarding large quantities of coins for the extraction of their metal content.

    The BSP said that the coins, which appear as metallic silver, are made from durable nickel-plated steel that possess very good wear and corrosion resistance.

    The change in material addresses concerns on discoloration predominantly observed for copper-based metals.

    Coins in the NGC Series will feature the new BSP logo, three national heroes in the 10-Piso, 5-Piso, and 1-Piso coins, a stylized three stars and a sun in the 25-, 5- and 1-Sentimo, and endemic flora consistent with the design of the NGC Banknote Series that highlights Philippine fauna.

    The BSP said that the existing coins shall remain as legal tender and can be used alongside the NGC Coin Series for day-to-day transactions to pay for goods and services, until such time as the BSP calls for their demonetization.

    “There is no date yet for demonetization for the old series. The two series will co-exist,” said Diwa Guinigundo, BSP deputy governor.

    Malaya

    Share

    New Posts Recently publish post More

    • 16 September 2021
      1 day ago No comment

      Millions cast advance vote as race tightens in September 20 election

      Elections Canada estimates that roughly 5.8 million Canadians cast their ballot at advanced polls for the September 20 federal election. The advance polls were open from September 10 to September 13. Preliminary figures provided by Elections Canada showed that there was an 18.5 percent rise in advanced voters compared ...

    • 09 September 2021
      1 week ago No comment

      Metro Vancouver Bicolanos endorse Leni Robredo for next PH president

      We are Bicolanos and Bicolanas working and residing in Metro Vancouver and express our positive support to Leni Georna-Robredo to become the next President of the Republic of the Philippines. We feel the pains of our fellow Filipinos and we equally share the burden. And being away from the ...

    • 09 September 2021
      1 week ago No comment

      Conservatives lead in homestretch to September 20 vote

      Is Canada going to have a new prime minister on September 20? Results of two surveys released as Philippine Asian News Today went to press Wednesday (September 8) show the Conservative Party of Canada led by Erin O’Toole leading the Liberal Party of Prime Minister Justin Trudeau. Global News ...

    • 09 September 2021
      1 week ago No comment

      What’s wrong with Kim Chiu?

      Many are worried with Kim Chiu not being her usual bubbly self on recent episodes of “It’s Showtime.” Some fans even took to social media to remark about it. “Anyare kay Kim? Bakit walang kibo?” “Di ako sanay na tahimik si Kim…” “What’s happening it’s showtime? Ano ginagawa ninyo ...

    • 02 September 2021
      2 weeks ago No comment

      ‘Elections are important’: Janine Gutierrez urges eligible voters to register

      Actress Janine Gutierrez called on Filipinos to “make use of the next month wisely” in response to reports that the voter registration for the 2022 elections will no longer be extended despite suspension during lockdowns. The 32-year-old Kapamilya talent on August 24 responded to a news item shared on Twitter which ...

    %d bloggers like this: