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 Dojie Lutera (a philatelist and numismatic collector) had shown us some crispy Php 50.00 peso bill he withdrawn from automated teller machine ( atm).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.

 

 

 

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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.

5 Important Ways How to Start A Coin Collection

Starting a collection is something one must have passion , dedication or something of sentimental value . One of the most common items collected are coins , paper bills, stamps and postcards. They are easily transported via land, baggage and air.

There is a popular television show Kapuso Mo Jessica Soho last June 4 episode, who featured a coin collector ( Barya Milyones segment ) from Nueva Ecija province, The featured collector collect  loose change from her brother who was a seaman .

They were able to collect a lot of coins with the special feature about the Sacagawea dollar.  There was a high expectation on the part of the coin collector that it was worth millions of pesos,  until the president of Philippine Numismatic and Antiquarian Society (PNAS) was invited to appraise the coins ( face value Php 49. 36 as of June 5 exchange rate) . Much to the dismay of the coin collector.

Japanese coins from different era- personal collection of the author 

Here are the 5 Important Ways to Start a Coin Collection

1.) Motivation – The motivations for collecting are varied. Possibly the most common type of collector is the hobbyist, who amasses a collection purely for fun with no real expectation of profit. This is especially true of casual collectors and children who collect items on the basis of chance and personal interest.

2. ) Passion -Have a passion and try to collect them from KKK – Kaibigan , Kakilala at Kamag-anaks – These connections are necessary to start a collection. Starting a collection may not be an expensive hobby at first, as relatives and friends would always give handy and loose change . Eventually sorting them and making a theme , out of your collection – American regime, Commonwealth, Kings, Queens, Popes etc…

proof set coins minted by Franklin Mint , USA circa late 1970’s  sold before the Central Bank of the Philippines ( with certificate of authenticity)

3.) Research–  Try to do some research on the coins or items, There are some second hand coin catalogs for sale at several flea market and second hand bookstore . They are categorized by country or by time period. Joining a reputable collecting club is another option . There are a lot of people that have the same passion and hobby .

Some are helpful and will lend a helping hand , BUT some will just tell stories ala Indiana Jones and will sell over priced items.  Joining FB groups , forum sites and peer group will also help.

There are also good places in the Philippines to visit , Money Museum within the Bangko Sentral ng Pilipinas compound at Harrison Plaza in Manila had an interesting collection of coins , banknotes and pre-hispanic items. Appointment is a MUST for those who wanted to visit the museum.

Remember that in the field of numismatic also includes medals, tokens and private issuance of companies. There are also counterfeits of coins, tokens and paper money since time immemorial . Sometimes, they are more expensive than the real counterparts.

There are a lot of coins made in China , India and other parts of the world intended for unsuspecting tourist. My uncle bought some silver coins allegedly from a dealer in Bangkok in one of his foreign trips. The silver coins are supposedly was minted in the late 19th century and early 20th century. Unsuspectingly bought them without properly inspecting the items. It was kept in a bank vault for several decades until his death.

Initially, it was intended to be sold to cover his funeral expenses but upon close inspection, all of the silver coins are fake and with very little silver content. Apparently, they are made using the old techniques of molds.

Even a seasoned coin collector would have a hard time with these items, there were thousands or even millions made to lure unsuspecting tourists.

 Personally , I do not recommend searching some buying sites, since they are  sometimes overpriced and does not reflect the real market value.

Bagong Lipunan bills – mint condition

4.) 4 C’s of Coin Collecting – After amassing the desired quantity, One can start sorting the coin collecting.

Common Themes- It can be based on per country, year collection,mint, period , era and theme.

Condition – Seasoned collectors will always look for the best condition of coins, so avoid holding coin with bare hands and try to buy coin holder , They are available in ordinary cheap paper holder to more expensive ones. They can be bought at a specialty stores in US, UK or HK .

One must also know if the coin are minted as to commemorative or special issuance, One must note that some issues are highly collectible since they commemorate an event and limited in quantity . Government issues like Central Banks are highly sought after by collectors, as to compared to private institutions.

Modern commemorative proof set coin issuance are normally sealed in nice containers with certificate of authenticity issued by the issuing government entity. Do not attempt to remove the coins or items on the containers as they are sealed and will quickly loose its value.

Coins with metallic or intrinsic values like gold, silver, platinum and bronze are collectible and desired by collectors.

Capacity – Remember that at one time , one will buy collectible items. One must always think of the person’s capacity and market value.  Do not try to over buy or hoard items.

Cleaning Coins – Generally , It is not acceptable to clean old coins especially more than 50 years-old and above. Just keep it as is and do not attempt to use abrasive coin cleaners. ( Done that with a couple of silver coins before with my ROTC metal polish before !) ordinary baking soda with mild detergent power will do wonders.

It is also not always the case that an old coin is worth more than the modern coin. There are billions or millions of coins minted and thus sometimes they are not that expensive.  ( author was able to bought a couple of Roman era coins worth about a hundred pesos )

5.) Collect for the Fun and Knowledge – Met a lot of collectors which started with full of zest with their collection.  Buying a lot of  items at flea market , club auction and online sites. Buying them by bulk as if there was no tomorrow.

One collector would even post a weekly update on his facebook page , buying package full at several sites and falsely telling stories that they were heirloom family collection .

I was told that the collector somehow lost his interest in collecting is now selling the items he hoarded.

I used to be a member of the Bank Note Society of the Philippines (BNSP ) for a couple of years during the incumbency of President Cecilio Hodreal . His son is now active in collecting banknotes, coins and stamps.

Note : The author does not engage into buying and selling  of these items.  Only had limited number of coins and paper bill collection. 

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/

 

Gat Andres Bonifacio 150th birth anniversary stamp and coin launching

Monumento Caloocan City- Philippines

President Benigno Simeon Aquino III together with Hon. Ceasar Sarino of the Philippine Postal Corporation during the presentation of the 150th birth anniversary commemorative stamp issued by the post office.

(Photo courtesy of  Robert Viñas / Malacañang Photo Bureau)

I arrived shortly after 6:30 am near the Monumento Circle,  EDSA avenue and some streets were closed by MMDA and the traffic bureau . There were a lot of police men, army , presidential security guards , local city government officials from Caloocan, local schools , descendants of  Gat Andres Bonifacio , foreign dignitaries , National Historical Commission of the Philippines employees and passers-by.  This year’s theme : “Bonifacio: Dangal at Kabayanihan.”

President Benigno S. Aquino III receives a Bonifacio Commemorative Coin from Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco, Jr., during the commemoration of the 150th Birth Anniversary of Gat Andres Bonifacio at the Bonifacio National Monument in Caloocan City on Saturday (November 30, 2013). In photo is Caloocan City Mayor Oscar Malapitan. (Photo by Robert Viñas / Malacañang Photo Bureau).

President Benigno S. Aquino III  short speech

(Photo  courtesy of Ryan Lim / Malacañang Photo Bureau).

Mr. Wildredo Bas ( center) and the National Historical Commission of the Philippines employees and technical staffs

I saw some NHCP employees and technical staffs and they gladly obliged to take a group photo despite of their hectic work load.

Ms. Kathy San Gabriel and Professor Xiao Chua of PTV channel 4

I was able to meet Professor Xiao Chua and Ms. Kathy San Gabriel of PTV channel 4 . After a short chat with them – I showed some of the 150th commemorative Andres Bonifacio stamps which they aired LIVE.

Ms. Kathy San Gabriel holding the commemorative 150th birth anniversary commemorative stamp during the LIVE telecast

Hon. Amado Tetangco ( Bangko Sentral ng Pilipinas governor) Hon. Cesar Sarino ( Philippine Postal Corporation president)

Atty. Gregorio Bonifacio together with NHCP chairperson  Dr. Maria Serena Diokno  presentation of the 150th birth anniversary Andres Bonifacio commemorative stamps

Presidential Communications Development and Strategic Planning Office – Manuel  Quezon III  ( undersecretary )  , NHCP chairperson Dr. Maria Serena Diokno, Atty Gregorio Bonifacio ( descendant )  and Mr. Dante Distrito ( descendant )

descendants of Gat Andres Bonifacio together with Undersecretary Mr. Manuel L. Quezon III , Dr. Maria Serena Diokno , NHCP Executive Director Mr.  Ludovico Badoy

descendants of Gat Andres Bonifacio

I had the opportunity to meet some of  Gat Andres Bonifacio descendants from Procopio Bonifacio ( brother ) they are very active with the 150th anniversary preparations in Novaliches . Novaliches is one of the most important stronghold for the Katipunan movement and a lot of prominent old- families like Kabesang Serrano are members of the Katipunan.

Mr. Edardo Bonifacio together with Heroes del 96 Community members

Note: Commemorative 150th Gat Andres Bonifacio coin are available for SALE at the Bangko Sentral ng Pilipinas while the Commemorative 150th Gat Andres Bonifacio stamp are available for SALE at the Philatelic Division – Manila Central Post Office , Liwasang Bonifacio – Ermita , Manila

 STAMP Technical Description

Kind of Issue                              : Commemorative

Perforation                             : 14

Denomination and Quantity     : P10.00 ……..150,000 (4 designs)

Printing Process                   : Litho – Offset (4 colors)

Souvenir Sheet                          : P150.00 ……8,000 pieces ( quantity)

Paper                                      : Imported Unwatermarked

Date of Issue                              : November  30, 2013

Printer                                     : Amstar Company, Inc.

Last day of sale                         : November  30, 2014 (as stock allows)

Layout Artist                           : Mr. Victorino  Z. Serevo

Sheet Composition                                   : 12 (3 x 4)

Size of stamp                             : 30 mm. x 40 mm.

Size of Souvenir Sheet              : 102.5 mm. x 68 mm.

Designs                                     :

Stamp 1 –   Roderick C. Macutay, Pasig City, winner, Open Category

Stamp 2  –   Julius R. Satparam, Legazpi City, Albay, winner, Open Category

Stamp 3  –  John Mark Nathaniel Troncales, TUP, winner, Student Category

Stamp 4  –   Marrion Dabalos, FEU, winner, Student Category

Note” I would sincerely ” THANK ” NHCP  people for their accommodation during the event.

Website links:

Philippine Postal Corporation: https://www.phlpost.gov.ph/

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