New 5 Peso Coin issued by Bangko Sentral ng Pilipinas

Happy New Year to all !

I got a new Php 5.00 commemortive Php 5.00 coin issued by Bangko Sentral ng Pilipinas ( BSP) This will make numismatics around the world busy for a while.

This is to commemorate the 154th birthday of Andres Bonifacio and 120th anniversary of his death last November 2017.

The new design  was released by December 2017  under the New Generation Currency (NGC) Coin Series  with the rest of the denominations scheduled for next year.

5 peso commemorative coin

The obverse of the 7.5 gram coin bears the inscription, “Republika ng Pilipinas” and the name and profile of the Father of the Philippine Revolution.  The reverse of the coin features a Philippine plant called  (Strongylodon macrobotrys )commonly known as jade vine, emerald vine or turquoise jade vine with local name “Tayabak” with BSP logo. Aside from its fresh design, the coins boast of “corrosion resistance” abilities and were reportedly enhanced to prevent forgery.

At first glance the coin seems as big as the ordinary Php 1.00 coin and this looks very confusing. This will take a while for the ordinary public can get use to this coin.

It seems that the coins that BSP had been issuing are getting smaller and smaller as time passes by.

But holding the coins, there are some unique design features which a blind person can clearly distinguished.

Advertisements

Bangko Sentral ng Pilipinas issued a commemorative 150th Andres Bonifacio’s Ten Peso coin

Bangko Sentral ng Pilipinas ( BSP)

 150th Andres Bonifacio Php 10.00 commemorative coin-

The Central Bank of the Philippines issued a coin commemorating the 150th anniversary of the birth of Andres Bonifacio was issued Tuesday by the Bangko Sentral ng Pilipinas.

Bonifacio’s face on the obverse (front side) of the coin is accompanied by the words “Republika ng Pilipinas 2013“, while the reverse side of the coin carries Bonifacio’s signature, an image of the Bonifacio monument, and the words “Dangal at Kabayanihan.”

Features

a. Designs:
– Obverse: Portrait of Andres Bonifacio with the following markings:
“10 Piso”, “REPUBLIKA NG PILIPINAS”, and Yearmark “2013”
– Reverse: New Seal of the BSP with the following markings: “150 Years”, “1863-2013”, “Signature of Andres Bonifacio”, “DANGAL AT KABAYANIHAN,” and the Bonifacio Monument

b. Denomination / Face Value: 10-Piso

c. Specifications:
– Material: Existing 10-Piso coin blanks (bi-metal)
– Metallic Composition and Color:
a) Ring – 75% Cu, 25% Ni / Grayish White
b) Core – 92% Cu, 6% Al, 2% Ni / Yellow
– Shape: Round
– Weight: 8.70 grams
– Diameter: 26.50 millimeters
– Edge: Milled

d. Mintage (quantity): 10 million pieces, of which 20,000 pieces will be packed Brilliant Uncirculated coins

The issuance of the coin was recommended by the Monetary Board and approved by the Office of the President.

The regular P10 coin features the heads of Bonifacio and Apolinario Mabini. Mabini’s own sesquicentennial will be celebrated next year.

The circulation of the Bonifacio commemorative coin will “highlight the nationwide celebration” of one of the Philippines’ greatest heroes, the BSP said in a statement.

Links:

Bangko Sentral ng Pilipinas: http://www.bsp.gov.ph/

 

Faceless 50 pesos bill

There was a lot of media buzz and the hype about faceless Philippine peso bills in circulation that were posted by netizens in social media sites like Facebook, twitter. The story gradually caught some attention by local media like ABS-CBN channel 2 and GMA channel 7.

50pesos faceless bill.JPG

Php 50 pesos bill without face ( photo from the author- owner Mr. Dojie Lutera)

Mr. Dojie Lutera (a philatelist and numismatic collector) had shown us some crispy Php 50.00 peso bill he withdrawn from automated teller machine ( atm).  There is no President Sergio Osmena face in the bill.

Faceless Bill or Error in Printing

Some people thinks that his paper bill looks counterfeit, since there was a missing feature in the paper bill. BUT for long time collectors, This is a highly collectible item. During the printing, manufacturing and production process, there are cases where machine errors caused rare misprints. ( during the sorting process, the sorter might have overlooked on the paper bills)

Bangko Sentral ng Pilipinas printed millions of banknotes every day. Since this is highly collectible, the owner of this Php 50 peso bill will just keep this one for himself.

For those who might encounter faceless paper bills in the future, Do not attempt to fold the paper bill, Just keep it in a flat area and avoid holding them with bare hands.

Bangko Sentral ng Pilipinas advises the general public to surrender these banknotes if they have encountered one. BUT for collectors, They will keep this since it is rare and a collectible item.

 

 

 

Highlights of the ASEANPEX 2017

ASEANPEX 2017 had about 400 exhibit frames of non-competing stamp collection . The exhibition is dubbed ASEANPEX 2017 which featured ASEAN member countries that were displayed at Hall #1 SMX Convention Center in Pasay City.

DSCF6939.JPG

Highlights

The opening highlights includes a traditional bagobo and tiboli cultural dances by world reknown Bayanihan Dance Company and a ceremonial practice of blowing the conch shell dates back to the ancient times.

The opening started at about past 9:30 am with hundreds of PHLPOST employees, students, stamp collectors, international guests in attendance.

DSCF6941.JPG

After the brief ribbon cutting together with several ambassadors from Singapore H.E. Kok Li Peng, H.E. Thanatip Upatising of Thailand, H.E. Mr.  U Win Naing of Myanmar and India . There was another small cultural performance at the stage area.

DSCF6954.JPG

This year’s organizing committee includes PHLPOST, Post Shop, Philately and Museum Division, Business Lines Department with several government department having booths at the site.

DSCF6973.JPG

Mr. Dennis Dy Kho , Mr. Rodrigo Ong and Mr. Isidro Tan were among the local stamp collectors in attendance

The exhibition was sponsored by SM Investment CorporationFilmetricsMama Sita’s Foundation with the active support from Philippine Philatelic Federation, local stamp collecting clubs.

DSCF6962.JPG

Cultural show includes cultural performance by the world famous Bayanihan Dance Company, Meet and Greet with PHLPOST Living Legends, Talks and Activity on Philately, Stamp Launchings, ASEAN Cosplay among others.

DSCF7015.JPG

Filipino Olympians ( silver medalists) , Manny Pacquiao, Miss World 2013 Megan Young, Miss Universe 1969, 1973 and 2015 were among famous Filipino living legends that was featured in local Philippine stamps. It is quite rare of a living person to be featured in local stamps.

DSCF7009.JPG

Mr. Willard Cheng ( ABS-CBN channel 2 reporter and correspondent ) a stamp ambassador was also one of the invited guests during the occasion. Former president Fidel Valdez Ramos also went to the exhibition late afternoon of November 4 and shared his personal stories of his stamp collection.

DSCF6960.JPG

There were some stamp printer. one such booth is from The Netherlands. At some point especially in the late 1960’s and 1970’s, Some of the Philippine stamps were printed in that country.

DSCF6970.JPG

Bangko Sentral ng Pilipinas also got a booth at the ASEANPEX 2017. This makes the coin and paper bill collectors happy since some of them were not able to purchase the POPE Francis commemorative online.

DSCF6965.JPG

We bought some limited commemorative stamp ( King Bhumibol Adulyadei cremation ) from Thai POST and we also took time buying some Elvis Presley Sheet from an international dealer selling them at Php 50.00 per sheet.

DSCF6976.JPG

We also queue in line for some limited commemorative stamps from PHLPOST. Just like the previous ASEANPEX 1996. There was no entrance fees and one can roam around with hall 1 of SMX Convention Center for the whole day and enjoy the event.

I saw Philip Reyes, Crispulo Verbo Arquero, Dennis Dy Kho, Isidro Tan, Reynaldo Ong de Jesus, Josefina Cura, Alfonso Cruz, YPS members among others.

What is commendable are the local stamp exhibits from serious stamp collectors who shared their collections of technical knowledge thru the years or decades of collecting.

 

 

 

 

 

Tales of 1971 Piso Coin

A good feature story aired last sunday by Kapuso Mo Jessica Soho at GMA channel 7 featured some FB group buying sites and some coin collectors looking for the rare 1971 1 peso coin.

This trigger some online debates and discussion about this rare coin in circulation.  The 1970’s coins were in general use up until the early 1990’s before the coins were demonetized by the Bangko Sentral ng Pilipinas along with the Ang Bagong Lipunan bills. They are used for payments in jeepney fares and loose change in small sari-sari stores.

Started collecting these types of coins whenever i had a chance to see them, most are in poor condition and an aunt even gave me over a dozen pieces of the 1972 1 peso coin as some sort of Christmas gift. ( also in circulated condition )

The coins are larger compared to the flora and fauna series issued by BSP in the 1980’s and a smaller coin series ( flora and fauna series 1994)  which is very unpopular among collectors and masses since they are quite small.

There were some rumors way back in the late 1990’s that some of the 1970’s  Marcos era coins are worth something and they have some gold content. The uncirculated ones and the ones that were polished with modern metal polish would have a yellowish color glow that makes people believed that it had gold or had white gold content. Some gullible people began hoarding them. People believed in the story, since there are some sidewalk vendors making them as rings or accessories, soaking them in calamansi solution. Some of them are still around Recto, Divisoria and provinces until now peddling items made from these coins.  I should have taken some photos for record purposes.

Metallic Content

“All the coins issued by then Central Bank of the Philippines and the Bangko Sentral ng Pilipinas do not contain precious metals particularly, silver and gold. Moreover, the value of the metallic contents of the BSP coins is determined by world market prices of metals.” – Page 5, Item #20, Banknotes and Coins March 2015.

At the height of the frenzy, Some people began spreading rumors in some buy and sell sites that each coin can be bought around Php 100 each regardless of the condition to as much as Php 1,000 each or even more !

NOLI Me Tangere Obverse

Another rumor that circulated for decades was the rare 1971 1 peso series with a Noli Me Tangere obverse and such coins are worth at least Php 200 to 1 million pesos . I have seen a couple of these coins being sold before in Recto at a local coin dealer way back in 1999 . I always do some researches later to found out that there are some private individuals and unscrupulous coin dealers or medal makers that would counter stamp or re-strike these coins to sell maybe to unsuspecting local or foreign collectors who would collect these kinds of novelty items, some say fantasy issue. Banking on the so called rarity, exclusiveness of the issuance.

This is not a rare case for coins but for stamps and other items that are collectible.   P.D No. 247  and BSP Circular No 61

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to Proclamation No. 1081 dated September 21, 1972, Proclamation No. 1104 dated January 17, 1973, and General Order No. 1 dated September 22, 1972, and in order to effect the desired changes and reforms in the social, economic and political structure of our society, do hereby order and decree:

1. That it shall be unlawful for any person to willfully deface, mutilate, tear, burn or destroy, in any manner whatsoever, currency notes and coins issued by the Central Bank of the Philippines; and

2. That any person who shall violate this Decree shall, upon conviction, be punished by a fine of not more than twenty thousand pesos and/or by imprisonment of not more than five years.

Reason : Sales Gimmick or Failure to Issue on Time ?

The law created which does not have a fang. I have seen some banknotes overprinted with the Pope Francis visit.  Which is not an official souvenir item issued by the BSP ( I think some private individual issued these so-called fantasy or  counter-stamping issues for remembrance of the occasion and failure of BSP and even Post Office to issue sufficient number of stamps and coins during the visit of Pope Francis in 2015) or delayed issuance?

The BSP flawed online registration drew some negative comments especially among old time collectors which are not tech savy and does not have any email accounts. Worst case scenario is that it took several months before the coins from BSP were sold to en-mass. Even until 2017( two years after the Pope Francis visit) and with a new BSP head. Some of those who ordered via email still have to receive the coins.

For stamps, People had to wait for long lines at the Manila Central Post office for long hours and the delivery for the Pope Francis stamps and souvenir sheet was even delayed or several hours during the first day. The author is one of the several hundreds or even thousands of people who lined -up just to purchase the commemorative stamps.  Taking a leave of absence for two days and loss of productive time.

Personal Letter to BSP Governor Amando Tetangco

I personally wrote a letter address to the former BSP governor Amando Tetangco way back in 2015 for some of the old members who cannot order online – the limited Pope Francis coins ( we only ordered just few coins for our old members from the provinces and those who do not have access to internet ) ONLY to be rejected few months later, after BSP staffs have assured us of having the priority order. Even personally going to the office of the governor of the BSP in Manila. Sadly two died without even seeing the commemorative coin.

I would have shrug off the story aired by KMJS last sunday. I think it was more of an information dissemination to create a decent rating out of ONE in a Million or Treasure Hunting stories which surely will create some noise. Got several emails and inquiries in this blog about the coin.

Wrote this short article to inform people that there is no such truth about the rare 1971 issuance for those who wanted to know the number of coins that were made.

Technical Description 

Obverse : Shield of the Republic of the Philippines, Lettering:
REPUBLIKA NG PILIPINAS , REPUBLIKA NG PILIPINAS , * BANGKO 1972 SENTRAL *

Translation: Republic of the Philippines

Central Bank of the Philippines : 1972

Reverse : Head of Jose Rizal left 

Lettering: P I S O 1 JOSE RIZAL

Translation: 1 Piso Jose Rizal

Edge

Reeded

Quantities ( Number of Coins Made or Minted)

1972 -121,821,000

1974- 10,000 -proof set

1974- 45,631,000