By February BSP Cebu to issue new commemorative coins

CEBU, Philippines - Cebuanos will soon have the chance to own any of the three new limited edition commemorative coins released by the Bangko Sentral ng Pilipinas last December 22.

BSP Cebu acting director Leonides Sumbi revealed the regional office is expecting to receive the new commemorative circulation coins later this month or on the first week of February.

“That’s the only time we will receive the coins,” Sumbi said.

The new coins include the so-called Bagong Bayani in honor of overseas Filipino workers on the 5-piso circulating coin; the 5-piso Leyte Landing coin in tribute to Philippine freedom during the World War II; and another 10-piso circulating coin in remembrance of the 150th year of Filipino Hero Apolinario Mabini. The three are considered legal tenders.

“As a matter of policy, the BSP commemorates significant events and heroic Filipinos in our country’s history through the minting of coins, medals or overprints on our banknotes,” the central bank said in a statement.

The BSP is also minting P50 and P500 commemorative coins for Pope Francis’ visit in the Philippines this week but these cannot be used as a legal tender, Sumbi noted. The pontiff is visiting the country today until January 19.

The director said the public can get these coins from the banks which will help in distributing the metal money.

“We will release them (coins) to the banks and kung gusto mo magpa-exchange, just go to the banks,” she advised the public. The coins will be sold at face value. The central bank previously said around 10 million pieces of the new coins would be made available for sale.

In 2013, the BSP released P10 commemorative coins for the 150th year of Filipino Hero Andres Bonifacio; it also unveiled P1 commemorative coins for the 150th year birth anniversary of National Hero Dr. Jose Rizal. (FREEMAN)