New 20-Piso and Enhanced 5-Piso Coins Released by the Bangko Sentral ng Pilipinas
The Bangko Sentral ng Pilipinas (BSP) released the new 20-Piso and enhanced 5-Piso coins last December 17, 2019. The coins are the latest to be circulated under the New Generation Currency (GNC) Coin Series of the BSP. The 20-Piso coin is now the highest denomination in the NGC series that was launched last 2018.
The 20-Piso coin will be more cost-efficient in terms of production and will have a longer circulation life than the 20-Piso banknote. In a study conducted by the University of the Philippines, the 20-Piso banknote is easily rendered unfit for circulation and returned due to it being the most-used denomination for payments in the country.
The new 20-Piso coin
The coin retains the major features of the 20-Piso banknote including the image of Manuel L. Quezon, the first president of the Philippine Commonwealth. Former President Quezon was the one who advocated the adoption of the national language, the creator of the National Economic Council, and one who worked for Philippine independence.
The reverse side, on the other hand, shows the BSP logo and the Malacañan Palace.
As the NGC Coin Series highlights native flora, the new coin showcases the Nilad, a plant whose name is believed to be the name of the country’s capital, Manila. Additionally, the new coin is bi-colored, making it distinguishable from other coins in the series. Further, it is also highly secure as it features microprints and an identifiable edge to combat counterfeiting.
The BSP also released an enhanced 5-Piso coin that is also a part of the NGC. The enhanced version was released with nine sides to make it more distinguishable from other denominations.
The enhanced 5-Piso coin
The 5-Piso coin retains the image of Andres Bonifacio and the Tayabak plant. The coin also retains security features including the microprints “Republika ng Pilipinas” and “Bangko Sentral ng Pilipinas.”
The new coins will co-exist with the current coins and notes as a legal tender until its removal through natural attrition.
Source: The Bangko Sentral ng Pilipinas
Images grabbed from the official website of the Bangko Sentral ng Pilipinas.
