Why Bangko Sentral redesigned P20, P5 coins


Posted at Jan 08 2020 09:52 AM | Updated as of Jan 08 2020 10:18 AM

The new P20 coin is shown in this file photo taken at the Bangko Sentral ng Pilipinas on Dec. 17, 2019. It will go into circulation in this first quarter of 2020. Jonathan Cellona, ABS-CBN News

MANILA -- The newly designed P20 and P5 coins that will go into circulation at the start of the year will result in "big savings" for the government while making it easier for consumers to tell them apart, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Wednesday.

The P20 coin will last for 10-15 years, compared to the P20 bill that it will replace, which lasts for 3 to 6 months, Diokno told ANC's Headstart.

The P20 is the most used denomination of Philippine money, he said.

The new design P5 coin is shown beside the P1 and P10 coins in this photo taken on Dec. 16, 2019. The nine sides of the P5 coin will help consumers differentiate it from others, according to the central bank. Bruce Rodriguez, ABS-CBN News

The nine-side design of the P5 coin will help the public differentiate it from the P1 and P10 coins, he said.

Unveiled at the end of 2019, the new design P20 and P5 coins will go into circulation in the first quarter of 2020.

Watch more in iWantTFC