The new Php 5 coin has adopted the latest technology in minting coins, saves on minting costs, and even prevents illegal hoarding.
Circulated beginning December, the 5-piso New Generation Currency (NGC) coin features on the obverse, Gat. Andres Bonifacio. The Bangko Sentral ng Pilipinas (BSP) advance release of the 5-piso New Generation Currency (NGC) coin highlights the 120th death anniversary of the Filipino patriot this year and his 154th birthday on November 30.
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Widely regarded as one of the Philippines’ greatest heroes, Bonifacio was a fearless leader who founded the Katipunan, the secret society that ignited the flames of the revolution which finally led to the declaration of Philippine independence in 1898. Bonifacio died on 10 May 1897.
Thus, considered as the Father of the Philippine revolution, Bonifacio’s portrait is etched on the obverse of the coin, along with the markings, “ANDRES BONIFACIO”, “5-PISO” and “REPUBLIKA NG PILIPINAS” in bold font and in microprints, and the mint mark.
The reverse side, meanwhile, features the Tayabak, a Philippine endemic plant that climbs tall forest trees, the BSP logo and “Bangko Sentral ng Pilipinas” in microprint. The 5-piso NGC coin is 25-millimeters in diameter and weighs approximately 7.4 grams.
The Php 5 coin is part of the NGC Coin Series which bears security features to deter counterfeiting.
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The NGC coins feature the electromagnetic signature (EMS) to guard against tampering and counterfeiting.
“We are also concerned about the so-called integrity of our coins. We must guard against possible tampering and issuance of counterfeit coins so we are introducing the EMS that will allow the vending machines to reject counterfeits,” BSP Deputy Governor Diwa Guinigundo said.
The security features also improve wear and has corrosion-resistance capabilities.
The minting cost is also reduced, and allows the BSP to avoid risks arising from unexpected volatile swings in metal prices.
The enhanced features also deter the illegal hoarding of coins for melting and shipment to other countries.
The Php 5 and the new coin series bear security features akin to that of the NGC banknotes.
Coins in the NGC Series will feature the BSP logo, national heroes and endemic flora, consistent with the design of the NGC Banknote Series, launched in 2010, which also highlights Philippine fauna.
The rest of the denominations of the NGC Coin Series will be released by the BSP for circulation in January 2018.