- BSP releases the new P5 coin featuring Andres Bonifacio
- The coin is the first to be released in the central bank’s New Generation Currency coin series
- Other denominations will be rolled out starting January next year
The Bangko Sentral ng Pilipinas (BSP) timed the advanced release of its new P5 coin featuring hero Andres Bonifacio as the country celebrates his 154th birth anniversary.
BSP made the release on November 29, a day ahead of Bonifacio Day. The P5 coin is the first to be released from the New Generation Currency (NGC) coin series. The other denominations will roll out for circulation starting January next year.
The front side of the coin features the iconic profile of the Great Plebian while the reverse side highlights a Tayabak plant. According to the BSP, the plant is endemic to the Philippines that climbs through forest trees.
“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,” said BSP.
The coin has a diameter of 25-millimeters and weighs 7.4 grams.
“The NGC Coin Series adopts the latest technology in minting coins,” it also said.
And continued: “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.”