BSP issues 10M pieces of P10 Miguel Malvar coins

The central bank on Monday launched the limited edition of Miguel Malvar commemorative coins to celebrate the 150th birth anniversary of the Philippine hero.

The Bangko Sentral ng Pilipinas (BSP) is circulating 10 million pieces of the coin for a total of P100 million. The production cost the new coins is P4.23 apiece.

“He really deserves to be commemorated for this 150th birthday. He was very young, very courageous, very principled,” BSP Deputy Governor Diwa C. Guinigundo told reporters in a briefing at the central bank.

Malvar was the last Filipino general to surrender to the Americans during the revolution. He assumed the full command of the revolutionary forces after General Emilio Aguinaldo was captured and the other Filipino generals had surrendered.

“General Malvar’s valor, resilience and patriotism serve as inspiration to our fellow Filipinos,” the BSP said in a separate statement.

The commemorative coin shows the portrait of Miguel Malvar and the markings “10-Piso,” “REPUBLIKA NG PILIPINAS,” and “Heneral Miguel Malvar” in its obverse side.

On its reverse side, the coin shows the new seal of the BSP and the marking “150 taon,” “1865-2015,” and the “Monument of Malvar.”

The BSP commemorates significant events and heroic Filipinos in history by minting coins and medals or overprinting on banknotes.

“This is not the first time we came out with the commemorative coins,” Guinigundo noted.

Prior to the latest Malvar coins, the BSP commemorated the state visit of Pope Francis in January 2015. Last year, it commemorated the 150th year of Apolinario Mabini, the  70th anniversary of the Leyte Gulf landing and Bagong Bayani commemorative coins in honor of overseas Filipino. The he 150th year of Andres Bonifacio was commemorated in 2013. – VS, GMA News