Nancy Binay wants to temporarily stop new P5 coin rollout


Posted at Dec 27 2017 12:56 PM

MANILA - Senator Nancy Binay on Wednesday urged the Bangko Sentral ng Pilipinas to temporarily stop the issuance of redesigned P5 pending a public information campaign to avoid confusion.

Some consumers have mistook the P5 coins with P1 coins that share a similar size and silver color. The old P5 coin design is gold in color.

The new P5 coins features revolutionary leader Andres Bonifacio in its front while Gen. Emilio Aguinaldo is featured in the old design.

"It is best to keep an eye on those new five-peso coins. Lalo na doon sa mga nanunukli ng barya sa tricycle, jeep, tindahan at mga maliliit na negosyo," the senator said in a statement.  

"We welcome the new and fresh designs of the NGC. But did the Numismatic Committee ever consider the behavioral change it will create, and the possibility of confusion between merchants and the public?," she added. 

The BSP should mount information drives and issue advisories before releasing new coins, she said.