Author Topic: Philippines - New series of coins by 2017  (Read 1695 times)

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Offline malawi

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Re: Philippines - New series of coins by 2017
« Reply #15 on: November 30, 2017, 11:16:20 AM »
finally new coins ! the current set is very ugly

Offline Bimat

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Philippines - New series of coins by 2017
« Reply #16 on: December 27, 2017, 03:30:36 PM »
Binay asks BSP to temporarily halt rollout of new P5 coins

Gaea Katreena Cabico

MANILA, Philippines — Sen. Nancy Binay on Wednesday urged the Bangko Sentral ng Pilipinas to put on hold the issuance of the redesigned P5 coins, citing the New Generation Currency coins create confusion among the public.

Binay said the new P5 coins do not only confuse the public but they also impact small business.

"It's best to keep an eye on those new P5 coins lalo na doon sa mga nanunukli ng barya sa tricycle, jeep, tindahan at mga maliliit na negosyo," Binay said.

She noted that some mistook the new P5 coins with P1 coins, which are closely similar in size.

The new silver P5 coins feature Andres Bonifacio on the obverse, replacing Gen. Emilio Aguinaldo who is featured in the old design still in circulation.

The reverse side of the coins features Tayabak, an endemic plant in the Philippines that climbs tall forest trees.

Binay noted that the ordinary Filipinos are the ones who will be inconvenienced by the circulation of NGC series.

"We welcome the new and fresh designs of the NGC. But did the Numismatic Committee ever consider the behavioral change it will create and the possibility of confusion between the merchants and the public?" she said. sought for BSP's comment on the matter but it is yet to reply to the request.

BSP has been rolling out the new P5 coins since December. It was unveiled a day before the commemoration of the 154th birth anniversary of the Bonifacio.

BSP said the rest of the NGC Coin Series will be released for circulation in January 2018.

Source: MSN
Caution. The low-hanging fruits are still there maybe for a reason.

Offline eurocoin

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Re: Philippines - New series of coins by 2017
« Reply #17 on: January 02, 2018, 03:30:04 PM »
Central Bank of the Philippines commented on the worries of Binay that can be seen in the message above that the confusion between the old P1 coin and the new P5 coin is unavoidable. BSP Deputy Governor Diwa Guinigundo rejected the appeal to stop the circulating of the new P5 coins, saying an information campaign “will not be effective because the public needs to see and hold and use the New Generation Currency (NGC) coins.” They also said they have a nationwide public information campaign through social media as well as print and broadcast media.

Although her request was rejected Binay today urged the Central Bank once more to delay the issuance of the new coins until April. She asks for a 4-month information campaign to avoid confusion. Certainly also for senior citizens and people with low vision issues. Furthermore she mentioned the ticket vending machines of public transport will not accept the new coins for at least the next 3 months as they have not been updated yet.

The other coins of the new generation are sheduled to be released January 18.