BSP circulates New Generation coins

Eight years after the release of the New Generation Currency (NGC) banknotes, the Bangko Sentral ng Pilipinas (BSP) has updated its coin design series for the 10-piso, 5-piso, 1-piso, 25-sentimo, 5-sentimo and the 1-sentimo.

BSP Deputy Governor Diwa C. Guinigundo said they have started circulation of the six coins, and some such as the 5-piso with the solo Gat Andres Bonifacio on its face, has already been released in advance last year to commemorate his 154th birthday (November 30).

The current coins of the old series do not yet have a demonetization deadline.

Guinigundo said the existing coins will be circulated along with the NGC coins for now, and will remain as legal tender “until such time as the BSP calls for their demonetization.”

In a statement, the BSP said the NGC coins have enhanced security and design with micro-printed details using laser-engraving technology for the 10-piso and 5-piso coins. “The metallic composition of the NGC coins discourages the illegal practice of hoarding large quantities of coins for the extraction of their metal content.” The coins are made from durable nickel-plated steel. “The change in material addresses concerns on discoloration predominantly observed for copper-based metals.”

While all the coins have prominent changes in designs, the 5-piso stands out.

The BSP explained that “aside from the differences in diameter, weight and thickness, improved design elements and security features were added to the 5-piso NGC coin such as microprints and mint mark.”

The 5-piso NGC coin also features the endemic plant Tayabak, the new BSP logo and Bonifacio, the founder of the Katipunan movement and for some historians, the first Philippine president. The existing 5-piso still has the old BSP logo and the country’s recognized American-period president, Emilio Aguinaldo, who is now on the obverse side of the 200-piso.

The New Design Series, which was replaced by NGC, were taken out of circulation at the end of 2015 and demonetized by January 1, 2017. (LCC)

Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo shows the new generation currency coin series in 10peso,5-peso,1peso,25-centavo,5centavos, and 1-centavo during a press conference at the Bangko Sentral ng Pilipinas main office in Manila. The...