The Bangko Sentral ng Pilipinas on Wednesday dismissed reports of a new coin series in response to posts circulating on social media.
Images of coins being shared on social media are part of the “Ang Bagong Lipunan” coin series issued by the BSP in 1975 and have been demonetized in 1998. This means that such coins can no longer be used as payment.
"The Bangko Sentral ng Pilipinas informs the public that it has not released a new Philippine coin series," the central bank said.
The latest legal tender coin series released by the BSP is the New Generation Currency which was first introduced in 2018.
"The NGC coins are significantly more difficult to counterfeit due to their stronger security features," the BSP said.
Filipinos are advised to check the validity of reports on Philippine banknotes and coins on the central bank's website.
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