Sense of Cents

Ama Fe S. Galang

Time and again we hear stories from our elders about the value of money that are less than one peso in denomination and most of the time we find it amusing because nowadays we only see these on the streets. According to BSP, there are about 31.8 billion pieces (bpcs) of coins valued at PHP39.5 billion issued by the BSP as of 31 March 2019, excluding commemorative coins. About 54 percent of the 31.8 bpcs of coins in circulation are lowdenomination coins (i.e., 1-, 5-,10- and 25-Sentimo). There are sufficient low denomination coins in circulation that may be used by business owners in providing exact change to the public. Why do they keep circulating these coins if they seem to be worthless? Working as an administrative assistant who’s involve in the liquidation process, a cent has a value. Rounding off numbers in accounting is very important especially if you’re dealing with big amount of money. Buying from grocery stores and not getting your exact change should not be taken for granted because if you will save all the low denomination coins that you’re supposed to get, it definitely has a value. These are just instances that shows the sense of cents. Worthless as it may seem we have to learn how to value them for small things sometimes mean a whole lot.

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The author is an Administrative Assistant III at Northville High School – Division of City of San Fernando