New ₱5 Coin Features Andres Bonifacio
The new ₱5 coin set featuring Andres Bonifacio was unveiled by the Bangko Sentral ng Pilipinas (BSP) to commemorate Bonifacio’s 154th birthday.
The new coin, which is one of the New Generation Coin Currency (GNC), was unveiled a day before the country commemorated the father of the revolution’s 154th anniversary on November 30. The new coin will be released this December. Earlier this month, BSP also issued a limited edition ₱10 coin in line with the 150th National Heroes Day, which showcase Antonio Luna. Only 10 million pieces of this commemorative coin were released.
BSP said the rest of the NGC Coin Series would be released for circulation in January 2018. These coins would feature the national heroes, an endemic flora, and the BSP logo. The design will be consistent with the NGC Banknote Series launched in 2010.
According to BSP, the GNCs will carry security features to prevent counterfeit, and its wear and corrosion resistance will also be improved. The coin series will adopt the latest technology in minting coins and is expected to cut down BSP’s minting costs, avoid risks arising from unexpected volatile swings in metal prices, and also deter the illegal hoarding of coins for melting and shipment to other countries.