Tuesday, February 7, 2023

BSP Launches New P20 coin, enhanced P5 coin

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The Bangko Sentral ng Pilipinas (BSP) officially launched the new P20 coin that would replace the banknote, and also launched an enhanced P5 coin.

Photos from the Bangko Sentral ng Pilipinas (BSP)

The new 20-Piso NGC coin shall co-exist as legal tender with the currently-circulating 20-Piso NGC banknote, which will be removed from circulation through natural attrition,” The Bangko Sentral ng Pilipinas said in a statement.

The P20 coin retained major elements that can be seen from a P20 banknote. The coin’s front side featured Manuel L. Quezon, while its reverse side featured the BSP logo and the Malacañan Palace.

Consistent with the New Generation Currency (NGC) Coin Series, the P20 coin featured Nilad, a plant that was originated from the name of the country’s capital, Manila.

The P20 coin has two colors that can be easily distinguishable from other coins in the NGC coin series. It also has microprints and an identifiable edge that can put off counterfeiting.

New P20 Coin | Photo from the Bangko Sentral ng Pilipinas

The BSP also launched the enhanced P5 New Generation Currency coin with nine sides in order to make it much different from other denominations in the coin series.

The 5-piso coin also retains the design elements of the round NGC coin, with Andres Bonifacio, the father of the Katipunan, on the front side and the Tayabak plant, on the reverse,” BSP also said in a statement. “It also retains the security features of the round coin, including the microprints ‘Republika ng Pilipinas’ and ‘Bangko Sentral ng Pilipinas’.

Enhanced P5 coin | Photo from the Bangko Sentral ng Pilipinas

The design of the new P20 coin and an enhanced P5 coin was approved by the President of the Philippines. The BSP earlier announced that these coins will release in circulation by 2020.

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