The Bangko Sentral ng Pilipinas in Negros Oriental has appealed to the public to accept the new series of coins, which many people have complained about for apparently causing "confusion".
Consumers and public utility vehicle passengers have noted that the new PHP5 coin is of the same size as the old PHP1, thus the confusion.
Dr. Gregorio Baccay, who heads the Economic and Financial Learning Center of the BSP in the province, said, “We are appealing to the public to accept and get used to the new series of coins as these will replace the old coins” when they are demonetized.
At the same time, he explained to the public how to get used to the new coins.
“Regarding our new coins, our basis to identify is to look and feel,” he said.
To look means to see the sides of the new coins, as these have new designs, and to feel, meaning to check on the edge if they are plain or with ridges, he added.
Baccay also said that the new series of coins has added security features such as micro-prints and mint marks.
He clarified, however, that the old peso coins are still legal tender as the new series of coins has already been released.
“Right now, the old series of coins continue to be in circulation until such time that the Bangko Sentral will recall these,” he said.*PNA
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