BSP ensures security features in new coins

 The Banko Sentral ng Pilipinas (BSP) ensured that security features are embedded and considered in the production of the recently introduced New Generation Currency (NGC) coins.
BSP-Bacolod new branch head and Deputy Director Joanne Marie Castelo, in a press briefing, said the BSP Bacolod Branch has already started distributing the NGC coins to banks in the city.
The BSP has enhanced the design features, the wear and corrosion-resistance capabilities of the NGC coins for greater security features and discourages illegal practice of hoarding.
For the P10 piso and P5 piso coins, BSP incorporated micro printed details using laser engraving technology which protects the integrity of the coins making it hard to duplicate using the traditional counterfeiting method unlike the old coins which uses only the plating method.
The metallic composition of NGC coins also discourages the illegal practice of hoarding large quantities of coins for the extraction of metal contents where unlike the old coins in circulation which contains the metal nickel.
The NGC coins are nickel plated steel, no precious metal content, which possesses very good wear and corrosion-resistance capabilities while the previous coins are prone to corrosion.
The denominations for the NGC coins are P10 piso which is 27 millimeter in diameter and edged with Bangko Sentral ng Pilipinas lettering; the P5 piso which is 25 millimeter in diameter and has smooth, plain edging; the P1 piso has intermittent reeds in the edges and is 23 millimeter in diameter; the P.25 sentimo has 20 millimeter in diameter and smooth edging; while the P.5 and P.1 sentimos have 16 millimeter and 15 millimeter respectively in diameter and the latter has reeded edging versus the smooth edges of the later.
According to BSP-Bacolod Bank Officer II Dori Mae Cañeso, the NGC coins needs visual and tactile familiarization, so look and touch these coins before using them.
Castelo, on the otherhand, seek the support of the media to work together to spread the awareness on the characteristics and security features of the NGC coins.
“These (NGC coins) are beautiful, durable and has value in our communities.Let us all learn to appreciate the values of these coins as these are national symbols of our Philippine heritage,” Castelo added. (EAD/PIA Negros Occidental)
source : pia.gov.ph
Like Tweet Pin it Share Share Email

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *