BSP urges public to circulate, properly handle P20 coins

ABS-CBN News

Posted at Oct 17 2020 05:07 PM

BSP/Handout

MANILA — The Bangko Sentral ng Pilipinas (BSP) on Saturday urged the public to circulate and learn how to properly handle P20 coins released in December last year in place of the banknote.

The bicolor P20 coin has a nickel-plated steel core and a bronze-plated steel ring which would undergo oxidation after some time, the BSP said. 

It aimed to replace the banknote form of the currency.

"The Bangko Sentral ng Pilipinas (BSP) enjoins the public to properly handle and circulate 20-Piso New Generation Currency (NGC) coins that were released to the public in December 2019," said the BSP in an advisory. 
 

“By nature, copper-based metals like bronze undergo oxidation when exposed to the environment as indicated by a change in color shade or toning of the coin ring,” the central bank said.

The BSP said the public should do the following to preserve and prolong the luster of the coins: 

  •  Keep the coins clean and dry
  •  Avoid putting adhesives on the coins
  •  Avoid soaking the coins in liquids for long periods of time
  •  If needed, clean coins using weak acid, e.g., citric acid from calamansi/lemon. Rinse with water and wipe it with a dry cloth or paper towel
  •  Do not use chemicals that contain oxidizing agents such as bleach, or strong acids such as muriatic and sulfuric acids. If coins were accidentally exposed to these chemicals, immediately rinse with water and wipe them with dry cloth or paper towel

The central bank encouraged the public to cooperate and preserve the integrity of the country’s currency. 

As of end August, 2.09 million pieces of the P20 NGC amounting to P41.85 million are in circulation, it said.

The P20 coin is also the most used denomination for payments in the country, the BSP earlier said.