THE Bangko Sentral ng Pilipnas (BSP) on Wednesday, November 29, announced that it will release the new P5 coin ahead of the other denominations of the New Generation Currency (NGC) Coin series.
The new P5 coin, which will feature Gat. Andres Bonifacio on the obverse, will be legal tender for circulation starting December, the central bank said in a statement posted on its website.
Its release highlights the 120th death anniversary of Bonifacio this year and his 154th birthday on November 30.
Bonifacio, considered as the Father of the Philippine revolution, was the founder of the Katipunan, the secret society that ignited the flames of the revolution which finally led to the declaration of Philippine independence in 1898. Bonifacio died on May 10, 1897.
Bonifacio’s portrait is etched on the obverse of the coin, along with the markings, "ANDRES BONIFACIO", "5-PISO" and "REPUBLIKA NG PILIPINAS" in bold font and in microprints, and the mint mark.
The reverse side, meanwhile, features the Tayabak, a Philippine endemic plant that climbs tall forest trees, the BSP logo and “Bangko Sentral ng Pilipinas” in microprint. The 5-piso NGC coin is 25-millimeters in diameter and weighs approximately 7.4 grams.
The new coins adopt the latest technology in minting coins.
The security features of the NGC Coin Series are enhanced to deter counterfeiting, improve wear and corrosion resistance capabilities, saves the BSP minting costs, avoids risks arising from unexpected volatile swings in metal prices, and also deters the illegal hoarding of coins for melting and shipment to other countries.
Coins in the NGC Series will feature the BSP logo, national heroes and endemic flora, consistent with the design of the NGC Banknote Series, launched in 2010, which also highlights Philippine fauna.
Other denominations of the NGC Coin Series will be released for circulation in January 2018. (VoxPop Philippines)