FALSE: New designs of Philippine peso coins out

Rappler.com
The BSP is not releasing new designs of legal tender, except for the upcoming P20 coin

Claim: A Facebook user posted 5 photos of 7 different Philippine peso coins with a caption saying that those are the new designs of the country’s minted fiat currency.

Eto na daw bagong pera ngayon. Grabe ginawa na nila lahat barya,” the caption read. (This is the new money now. Wow, they already made it all coins.)

The amounts of the coins in the post are P5, P50, P100, P500, P1,000, P1,500, and P5,000. The post was shared on October 27, 2019.

As of writing, the post got over 30,000 shares, 1,100 reactions, and 619 comments. Claim Check, Facebook’s dashboard monitoring tool that identifies potentially dubious content spread across the platform, flagged the post for fact checking.

Rating: FALSE

The facts: The coins in the post are not new designs but are mostly commemorative coins officially released by the Bangko Sentral ng Pilipinas (BSP) for a limited time in the previous years. The central bank also did not announce any new design of coins, except for the P20 coin which is expected to be revealed in December

The P500 coin in the post was a slightly altered version of the papal coin that was released to commemorate the state and pastoral visit of Pope Francis in 2015.

Likewise, the P50, and P1,000, and P1,500 and P5,000 coins included in the post are commemorative legal tenders released for the 3rd and 5th anniversaries, respectively, of the Marcos administration’s “Ang Bagong Lipunan” (New Society Philippines). The BSP announced the demonetization of these coins in 2018.

Meanwhile, the P5 coin in the post is the design that was recently released by the BSP and is currently being used in circulation.

The last time the central bank released new designs was in March 2018, when they launched the new generation currency coin series. – Pauline Macaraeg/Rappler.com

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