According to a recent article from The Philippine Star, studies for a new generation of coins are currently being conducted by the Bangko Sentral ng Pilipinas (BSP) and probably be unveiled in 2014.
From an interview BSP Deputy Governor Diwa Guinigundo said that we’ll soon to have a set of new generation of coins.
Security features, the size and the dimension, among others BSP are now looking into. Designs are also “already old,” Guinigundo said, explaining that “new technologies” would not only protect the coins from counterfeiting but would also save BSP costs.
“Although coins now are not likely to be counterfeited since it will no longer be profitable to do so,” he clarified. He pointed out that BSP has been using steel instead of the more expensive nickel in making coins.
For almost two decades in circulation, the present coin series are way past their supposed life of 5 to 10 years and should be replaced to “reflect the many events that have happened”
Guinigundo said the central bank is in the process of determining “what denominations will be dropped and what will be retained.”
Earlier reports in 2010, the BSP announced that the new coins would feature Philippines’ national symbols.
Prinz Magtulis – The Philippine Star