BSP says no new coin series released, Bagong Lipunan coins demonetized

ABS-CBN News

Posted at Jul 07 2022 11:03 AM

MANILA - The Bangko Sentral ng Pilipinas has clarified that it has not issued a new “Bagong Lipunan” coin series contrary to images circulating on social media. 

“Some images of coins circulating on social media are part of the “Ang Bagong Lipunan” coin series issued by the central bank in 1975, and demonetized in 1998. Demonetized coins are no longer accepted as payment for goods and services,” the BSP said in a statement on Wednesday. 

The central bank said the latest coin series it released is the New Generation Currency (NGC), which has stronger security features and more difficult to counterfeit. 

Bagong Lipunan coins no longer legal tender, BSP clarifies 1
Bagong Lipunan coins no longer legal tender, BSP clarifies 2

The BSP says Bagong Lipunan coins have been demonetized and are no longer legal tender.

The BSP says the New Generation Currency coins are the latest it has released.

“The BSP advises the public to always verify information found in social media regarding Philippine banknotes and coins,” the central bank said.

It also advised the public to fact-check information on coins and bills through the BSP’s official website. 

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