New P5 coin series released in Visayas.
By Minerva BC Newman
Cebu City - The Bangko Sentral ng Pilipinas (BSP) office in the Visayas has released 150,000 pieces of the new series of R5 coins worth P750,000.
Leonides Sumbi, BSP regional director, showed the media the new P5coin Monday and explained its features.
Sumbi said the coin has Andres Bonifacio on its face, is silver in color and without ridges around it. The old series are gold plated and with a ridged edge, she said.
Sumbi said the new P5 coin was launched in Manila on November 30 during the commemoration of the National Heroes' Day.
She said there is always a limited supply of coins specifically the low denominations coins (25,10, 5 and 1). "Somehow coins are circulated but they don't come back to the BSP. Banks are not depositing coins with us, they are re-circulated hence, there's nothing to melt/mint," Sumbi said.
The BSP had to coordinate with barangay officials in collecting coins from the people and discouraging them from hoarding coins.
For every P100 worth of coins they gathered they get an equivalent commemorative coin, Sumbi said.
She also showed the media the changes and enhancements to the new generation money series.
She said the common change in the new design series bills is that all scientific names are now in italics following feedback from the public.
The P100 bill is now color purple, (it used to be green) to differentiate it from the P1000 bill which is green in color. Again, the change was based on people's feedback, Sumbi said.
Changes to the P200 banknote were made at the images in the obverse or front side, particularly those depicting the Declaration of Philippine Independence and Opening of the Malolos Congress.
At the obverse side of the P1000 bill, the image of the Order of Lakandula Medal and the phrase "Medal of Honor" were deleted from the new design series.
Sumbi called on the public to be aware of the presence of counterfeit money during holidays. She said one way to detect a counterfeit bill is to touch the "Republika Ng Pilipinas" on the bill.