Philippine 20-peso coin is a finalist at international currency contest

The new P20 coin has barely made its way into the pockets of most Filipinos but it is already getting recognition from abroad, with the International Association of Currency Affairs (IACA) naming it as a finalist in its Excellence in Currency 2022 Awards.

The Bangko Sentral ng Pilipinas (BSP) said the new P20 coin emerged as one of the finalists from a field made up of 39 projects from 20 central banks, three commercial bank note issuers, nine banknote industry suppliers, and a banknote distribution system. The new P20 coin is part of the bank's new generation currency (NGC), which include banknotes issued from 2010 onward and coins issued since 2018.

On its website, the IACA described the Currency Awards as “designed to promote and recognize excellence in the industry.” The IACA will announce recipients of the awards on February 22, 2022.

The P20 coins are getting a more positive reception compared to the BSP's other new generation currency - the P1000 bill. The new bill recently received a lot of media attention and criticism because of the BSP's plans to replace the three Filipino heroes on it.

Descendants of the Filipino heroes Josefa Llanes Escoda, Vicente Lim, and Jose Abad Santos, were very vocal about their displeasure, speaking about it in interviews and posting on their respective social media accounts.

Jose Maria Bonifacio Escodo, a nephew of Josefa Llanes Escoda, suspected that it was a move orchestrated by Japan to cover up its atrocities. He also remarked that the removal was more painful than the Japanese killing his aunt as this is being done by fellow Filipinos.

Jose Abad Santos' great-grandniece, Desiree Ann Cua-Benipayo, questioned the necessity of removing the three heroes from the bill when the Philippine Eagle could have been put on the back of the bill instead.

A podcast on Philippine military history, Kronika Militar, also denounced the move, calling it an attempt by the BSP to “erase history and denigrate genuine Filipino heroes and martyrs.”

The Bangko Sentral ng Pilipinas had earlier announced that the redesign removed the three heroes to “focus on flora and fauna in the Philippines” and will apply to the limited polymer bills to be released by April 2022.

In some cultures, coins are considered good luck symbols mainly because of their shape and what they represent: money. Aside from coins, some colors are also considered lucky, check them out below: