Filipinos are not happy with new coin designs released by the central bank

Photo from Bangko Sentral ng Pilipinas Facebook page.
Photo from Bangko Sentral ng Pilipinas Facebook page.

Yesterday, the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, officially launched the designs for the country’s new coins. And while they now have additional security features, Filipinos are less than pleased about how the coins look.

I mean, isn’t this confusing?

Photo from Bangko Sentral ng Pilipinas Facebook page.

Even with this breakdown, it’s obvious that it’s not going to be easy to distinguish which coin is which. All have similar colors, identical layouts, and some are only a few millimeters bigger than others. For example, the PHP10 coin is only 2 millimeters bigger than the PHP5 — imagine having to examine each coin in your purse while riding a jeepney.

The New Generation Currency (NGC) coins, as the BSP calls them, includes redesigned PHP10, PHP5, PHP1, 25-centavo, 5-centavo, and 1-centavo coins that now all have micro-printed details made by laser-engraving technology that are more difficult to replicate.

But Filipinos online aren’t happy about having to use them.

As a comparison, this is how the current coins look:

So much easier right?

But in a DZMM radio interview earlier today, the BSP’s Deputy Governor for the Monetary Stability Sector, Diwa Guinigundo, defended the new designs and said that they are the result of a two-year study.

“When you read or look closely, the ‘5’ is clear in the PHP5. When you look at the PHP1, the ‘1’ is also clear. So the public shouldn’t be confused if they only look at the denomination,” he said in Filipino.

Yeah, except most people like knowing what denomination it is at first glance, which is how coins are supposed to work.

According to the BSP, the old coins can still be used alongside the new coins until it announces a demonetization.

Here’s a closer look at the new coin designs:

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