The Bangko Sentral ng Pilipinas (BSP) on Wednesday warned the public on a “Brilliant Uncirculated P20” coin that is has not minted or issued,
“The Bangko Sentral ng Pilipinas advises the public that it has not issued Brilliant Uncirculated 20-Piso coins. The BSP reminds the public to beware of online sellers advertising Brilliant Uncirculated P20 coins for sale,” it said in a statement.
Instead, the BSP said that it issued P20 New Generation Currency (NGC) to the public in December last year.
“As of end-August this year, it said 2.09 million pieces of P20 NGC coins amounting to P41.85 million are in circulation,” the BSP said.
Shown in photo are the P20 NGC coins, which are legal tender and can be used for commercial transactions. On the other hand, the Brilliant Uncirculated P20 coins are not legal tender.
The BSP is issuing the P20 NGC coins since it has a longer life than the paper-based bills P20 that are still widely in use.