Reports circulating on social media about a new Philippine coin series have reached the Bangko Sentral ng Pilipinas (BSP), and it was quick to clarify that no such new issuances have been made.
“The Bangko Sentral ng Pilipinas informs the public that it has not released a new Philippine coin series,” a statement from the central bank said.
According to the BSP, images of coins that are being shared on social media are part of the “Ang Bagong Lipunan” coin series issued in 1975. These coins have already been demonetized in 1998, so they can no longer be used as payment for goods and services.
The latest legal tender coin series released by the BSP is the New Generation Currency (NGC), which was first introduced in 2018. It consists of the 10-Piso, 5-Piso, 1-Piso, 25-Sentimo, 5-Sentimo, and 1-Sentimo.
The new 20-Piso coin, whose obverse side features Manuel L. Quezon while the reverse side shows the BSP logo, the Malacañan Palace, and the Nilad plant, was released in March 2018. The enhanced 5-Piso coin, on the other hand, was introduced only in December 2019.
The NGC Coin series features enhanced design aesthetics and stronger security features, making it significantly more difficult to counterfeit.
Filipinos are advised to check the validity of reports on Philippine banknotes and coins on the central bank’s website.