Coin confusion: BSP highlights P5, P1 coin differences | ABS-CBN
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Coin confusion: BSP highlights P5, P1 coin differences
Coin confusion: BSP highlights P5, P1 coin differences
ABS-CBN News
Published Dec 28, 2017 03:51 PM PHT
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Updated Dec 28, 2017 04:01 PM PHT
MANILA - The Bangko Sentral ng Pilipinas on Thursday highlighted the differences between the new P5 coins and P1 coins to avoid confusion among consumers.
MANILA - The Bangko Sentral ng Pilipinas on Thursday highlighted the differences between the new P5 coins and P1 coins to avoid confusion among consumers.
The new P5 coins are thicker and heavier compared to the P1 coins, said BSP managing director for currency management Carlyn Pangilinan. The two coin designs are similar in shape and color.
The new P5 coins are thicker and heavier compared to the P1 coins, said BSP managing director for currency management Carlyn Pangilinan. The two coin designs are similar in shape and color.
"The P5 coin is heavier. It is 7.4 grams. It is thicker, 25 millimeters in diameter, and slightly larger than the P1 coin. Moreover the P5 coin sides are smooth while the P1 coin has ridges," she said.
"The P5 coin is heavier. It is 7.4 grams. It is thicker, 25 millimeters in diameter, and slightly larger than the P1 coin. Moreover the P5 coin sides are smooth while the P1 coin has ridges," she said.
The face of revolutionary leader Andres Bonifacio and the image of the tayabak plant are among the obvious differences of the P5 coin from the P1 coin.
The face of revolutionary leader Andres Bonifacio and the image of the tayabak plant are among the obvious differences of the P5 coin from the P1 coin.
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The confusion between the P5 and P1 coins earlier prompted Senator Nancy Binay to propose a recall of the newer P5 design.
The confusion between the P5 and P1 coins earlier prompted Senator Nancy Binay to propose a recall of the newer P5 design.
Pangilinan said the P5 coin was redesigned to commemorate Bonifacio's birth anniversary and to alleviate an "artificial shortage" due to coins being kept in coin banks.
Pangilinan said the P5 coin was redesigned to commemorate Bonifacio's birth anniversary and to alleviate an "artificial shortage" due to coins being kept in coin banks.
"It is also to address greater coin demands during the Christmas season," Pangilinan said.
"It is also to address greater coin demands during the Christmas season," Pangilinan said.
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