BSP: Keep coins clean, dry

·2 min read

THE Bangko Sentral ng Pilipinas (BSP) has urged the public to properly handle and circulate the new P20 coins.

In an advisory, the BSP said that the New Generation Currency (NGC) bicolor P20 coin has a nickel-plated steel core and a bronze-plated steel ring.

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.

To preserve the integrity and prolong the luster of Philippine coins, the BSP advised the public to keep the coins clean and dry.

It also warned against putting adhesives on the coins like taping it with other denominations and to avoid soaking the coins in liquids for prolonged periods.

If needed, the BSP said the public can clean coins using weak acid, e.g., citric acid from lemon, rinse with water and wipe it with a dry cloth or paper towel.

The BSP said chemicals that contain oxidizing agents such as bleach, or strong acids such as muriatic and sulfuric acids should not be used on coins.

“If coins were accidentally exposed to these chemicals, immediately rinse with water and wipe them with dry cloth or paper towel,” the BSP said.

The BSP enjoined the cooperation of the public as part of its commitment to preserve the integrity of Philippine currency.

To recall, the BSP recently issued an advisory warning people from buying brilliant uncirculated P20 coins for sale.

Since its launching in December, some 2.09 million pieces of P20 NGC coins amounting to P41.85 million were circulated as of August 2020.

The coin was issued after a University of the Philippines study revealed that the P20 banknote is the most used denomination for payments across the country.

As a result, it is easily rendered unfit for circulation and returned to the BSP for replacement. (JOB)