Bangko Sentral ng Pilipinas (BSP) just unveiled the new P20 coin and redesigned P5 coin, according to ABS-CBN News.
Part of the new generation currency coin series, the P20 coin will be rolled out in the first quarter of 2020. It will co-exist with the P20 bill, which will be “removed from circulation through natural attrition.”
The P20 coin features Pres. Manuel L. Quezon, the Malacañang Palace, and the nilad plant.
According to ABS-CBN News, BSP Gov. Benjamin Diokno said it costs P10 to make the new P20 coin, which is estimated to last for 10 years. In comparison, it costs P2 to make the P20 bill, which lasts for six months. “We estimate current P20 bills will be in circulation until 2021 before it's completely replaced by new coins.”
Along with the P20 coin, the redesigned P5 coin will go into circulation in the first quarter of 2020. The new P5 coin features nine sides to make it more distinguishable from other coins.
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