►► you're reading...
bsp, In the news

PH’s new generation coin series by 2014


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.

Reference:
Prinz Magtulis – The Philippine Star

Discussion

One thought on “PH’s new generation coin series by 2014

  1. Does BSP realize the new series banknotes are less durable than the older series.

    Posted by Ron Singson | 6 January 2013, 6:51 PM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Like us! Follow us! Subscribe!

Enter your email address to subscribe and receive the latest & hottest post.

Join 2,420 other followers

Blog Stats

  • 141,840 informed readers

Calendar

August 2012
S M T W T F S
« Jul   Sep »
 1234
567891011
12131415161718
19202122232425
262728293031  
read more

Monthly Archive

TOP READS

Bring this page on your mobile!

This is a QR Code containing the address of our mobile site. If your mobile has a barcode reader, simply scan this code to launch the site.
%d bloggers like this: