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BSP to release ‘easily distinguishable’ P20 coin in December
The P20 coin to be launched in December will be easily distinguishable from the rest of the denominations currently in circulation, the Bangko Sentral ng Pilipinas (BSP) said Monday.
It is set to launch before the end of the year the P20 coin, retaining the major elements of its banknote version but having identifiable features to separate it from other coins.
“The latest addition to the NGC (new generation currency) series shall retain major elements of the 20-piso banknote,” it said.
“The design and features of the new 20-piso coin shall make it easily distinguishable from the rest of the denominations in the NGC coin series,” the central bank noted.
Citing a study conducted by the University of the Philippines, the BSP noted that because the P20 banknote is the most-used denomination it is easily rendered unfit for circulation and returned for replacement.
“As such, the issuance of a coin in lieu of a banknote is more cost-efficient in terms of currency production in the long run,” the BSP said.
The central bank earlier said the P20 coin will retain the face of former President Manuel Quezon, but further details and prospective photographs were not immediately available.
“Official photographs and specifications of the 20-Piso New Generation Currency (NGC) coin shall be presented by BSP Governor Benjamin E. Diokno during its launch. To date, the BSP has not released any official image regarding the proposed 20-piso coin,” it said.
Aside from the P20 coin, the BSP will also release an “enhanced” P5 coin to make it “more distinct” from other denominations.
“The changes were based on studies on the design, security features, and specifications of the new coins,” it added.
The central bank released NGC coins in March 2018, with enhanced aesthetics and security features. —Jon Viktor Cabuenas/VDS, GMA News
