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Manila Bulletin devider devider BSP-Dumaguete cites ways to identify new generation coins

BSP-Dumaguete cites ways to identify new generation coins

Published Jun 10, 2018 10:00 pm
By (PIA) Negros Oriental – Tactile and visual familiarization are keys to identifying the six New Generation Currency (NGC) coins, according to Bangko Sentral Ng Pilipinas (BSP) Dumaguete branch. In a press conference, BSP Bank Officer II Greg Baccay said the differences between the NGC coins and the existing BSP Coin Series can be best appreciated through visual means and tactile familiarization. The new coins which include P10, P5, P1, P0.25, P0.05, and P0.01 denominations are now being released into circulation. Baccay explained that the new coins have enhanced aesthetics and security, including the micro-printed details using laser-engraving technology in the two highest denominated coins, the P10 and P5. The new coins highlight the country’s endemic flora and national heroes, aside from the consistent BSP logo on it. Baccay has called on the public including the visually impaired to familiarize themselves and distinguish the new coins based on the diameter and feel of the edges. The P10 coins are milled with edge lettering while P5, 25 centavos and 1 centavo coins have plain edges. Likewise, P1 coins have intermittent reeds while 5 centavos have reeds. NGC Coin Series uses the latest technology in minting coins and features enhanced security to deter counterfeiting as well as improve wear and corrosion resistance capabilities. Baccay said BSP continues to organize an information campaign to educate the people in the provinces of Negros Oriental and Siquijor for them to apprise the NGC Coins. The existing coins, shall remain as legal tender which consumers may use together with the new coins to pay for goods and services, until the BSP issues the demonetization schedule.
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