No new coin series released, says BSP

The Bangko Sentral ng Pilipinas (BSP) on Wednesday said that it has not released a new coin series.

The BSP issued the advisory after some images of demonetized coins were circulating on social media.

The central bank clarified that the said images of coins were part of the “Ang Bagong Lipunan” coin series in 1975 and were demonetized in 1998.

“Demonetized coins are no longer accepted as payment for goods and services,” the BSP said.

The central bank said its New Generation Currency (NGC) is the latest legal tender coin series released by the BSP. 

The NGC coin series, composed of the 10-Piso, 5-Piso, 1-Piso, 25-Sentimo, 5-Sentimo, and 1-Sentimo, was launched in March 2018, while the 20-Piso and enhanced 5-Piso were introduced in December 2019. 

The NGC coins are significantly more difficult to counterfeit due to their stronger security features, the BSP said.

The central bank advised the public to always verify information found on social media regarding Philippine banknotes and coins.

“To fact-check such information, the public may visit the Notes and Coins section of the BSP’s official website,” it said. —VBL, GMA News