New 5-peso coins now in circulation
In time for the Philippines’ commemoration of the 154th birthday of Andres Bonifacio, which is celebrated in the country every 30th of November, the Bangko Sentral ng Pilipinas (BSP) revealed a New Generation Currency (NGC) five-peso coin design that features the Filipino revolutionary hero.
IMAGE Bangko Sentral ng Pilipinas Facebook page
The new five-peso coin, released for circulation by the BSP last December 1, bears a portrait of the hero with inscriptions of “ANDRES BONIFACIO,” “REPUBLIKA NG PILIPINAS,” and “5 PISO” on the obverse. The reverse features the tayabak or jade vine, which is indigenous to the Philippines, and the BSP logo.
The new coin is also now enhanced with wear and corrosion resistance capabilities and enhanced security to prevent counterfeiting.
Other notable changes to the five-peso coin are the switch from gold to silver and the smaller size, which makes it confusingly similar to the current one-peso coin. This recently prompted Senator Nancy Binay to ask for a temporary suspension of the new coin’s circulation, stating that it has caused confusion to the public. She added that the BSP could have done more in-depth design studies.
The old five-peso coin (left) featured General Emilio Aguinaldo.
The old five-peso coin, which has been in circulation since 1991, used to show the image of the Philippines’ first president General Emilio Aguinaldo.
Sources: Rappler, Manila Bulletin, CNN
