New 20-Piso and Enhanced 5-Piso Coins
- Bloop TV
- Dec 17, 2019
- 1 min read
Updated: Jun 16, 2020
The Bangko Sentral ng Pilipinas (BSP) released today the new 20-Piso and the enhanced 5-Piso coins which are the latest to be circulated under the BSP’s New Generation Currency (NGC) Coin Series.
Video: Courtesy of Bangko Sentral ng Pilipinas
The use of the 20-Piso coin—which is now the highest denomination in the NGC Coin Series launched in 2018—is more cost-efficient to produce as it will have a longer circulation life than a 20-piso banknote. According to a study by the University of the Philippines, the 20-Piso banknote is the most-used denomination for payments across the country. As a result, it is easily rendered unfit for circulation and returned to the BSP for replacement.
Image: Courtesy of Bangko Sentral ng Pilipinas
The 5-piso coin also retains the design elements of the round NGC coin, with Andres Bonifacio, the father of the Katipunan, on the front side and the Tayabak plant, on the reverse. It also retains the security features of the round coin, including the microprints “Republika ng Pilipinas” and “Bangko Sentral ng Pilipinas.”
Image: Courtesy of Bangko Sentral ng Pilipinasas
The design of the country’s newest coins is approved by the President of the Philippines. The BSP enjoins the public to properly use and recirculate our Philippine coins for their economic and cultural value.
Source:
Comments