BSP to public: No new coin series released, fact-check info found on social media | Inquirer Business
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BSP to public: No new coin series released, fact-check info found on social media

/ 07:14 PM July 06, 2022
The photo shows the BSP which reminds the public that it did not release new Philippine coin series and urged them to fact-check any information they find on social media

Photo courtesy of Bangko Sentral ng Pilipinas Facebook Page

MANILA, Philippines — No new Philippine coin series were released, the Bangko Sentral ng Pilipinas (BSP) clarified Wednesday.

According to the BSP, the images circulating on social media were part of the “Ang Bagong Lipunan” coin series that the bank issued in 1975.

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However, they were demonetized in 1998, meaning they are no longer accepted as payment for goods and services, the BSP said in a statement.

The BSP said New Generation Currency (NGC) is the latest legal tender coin series it released.  The NGC is composed of 20-Piso, 10-Piso, 5-Piso, 1-Piso, 25-Sentimo, 5-Sentimo, and 1-Sentimo coins.

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“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 regarding Philippine banknotes and coins found on social media.

“To fact-check such information, the public may visit the Notes and Coins section of the BSP’s official website www.bsp.gov.ph.,” BSP said. – Christine Annie Asistio, INQUIRER.net intern

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TAGS: BSP, coin, currencies, money, Peso, social media
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