‘No new PHL coin series released’

T@Bcuaresmabm

HE Bangko Sentral ng Pilipinas (BSP) clarified on Wednesday that they are not issuing new coin series, contrary to reports seen circulating on social media.

In a public advisory, the central bank said it is informing the public that it has not released a new Philippine coin series.

“Some images of coins circulating on social media are part of the ‘Ang Bagong Lipunan’ coin series issued by the central bank in 1975, and demonetized in 1998,” the BSP said in a statement. “Demonetized coins are no longer accepted as payment for goods and services.”

The New Generation Currency (NGC) is the latest legal tender coin series released by the BSP. The NGC coin series composed of the 10-Piso, 5-Piso, 1-Piso, 25-Sentimo, 5-Sentimo, and 1-Sentimo were launched in March 2018, while the 20-Piso and enhanced 5-Piso were introduced in December 2019.

The NGC coins are significantly more difficult to counterfeit due to their stronger security features.

The BSP advises the public to always verify information found in social media regarding Philippine banknotes and coins.

The BSP also recently launched a webpage to increase public awareness of the new 1000-Piso polymer banknote.

The website showcases the polymer banknote’s design, benefits, and security features; guidelines on proper handling; and timeline of release of more notes into circulation. It also contains images of the new polymer banknote from varying angles to provide the public an opportunity to explore its key features.

Educational materials, such as information sheets and frequently asked questions, are also posted on the new webpage.

“The BSP intensifies its efforts to raise public awareness on the new polymer banknote to safeguard the integrity of Philippine currency and promote its proper use,” the BSP said.