Bangko Sentral binatikos dahil sa paglalabas nila ng bagong limang piso na nagpalito sa marami.

In a bid to update the banknotes and coins in circulation, the Bangko Sentral ng Pilipinas (BSP) revealed the redesigned five-peso coin last November, and was released to the public the month later. However, the coin was smaller and done in silver, bearing striking similarity to the existing Php1 coin currently used in trade. In fact, quite a few netizens took to social media in voicing out their concerns over the confusion caused by the coin’s new appearance.

According to the CNN report, the central bank explained that the new coin, released last December 1, is part of the New Generation Currency (NGC) Coin Series. The rest of the coin denominations will be put in circulation by January 2018.

Some online users pointed out that the silver color and smaller size of the five-peso coin made it harder for people to distinguish between it and the old Php1 coin, based on the KAMI report. Side by side and at first glance, there was no noticeable difference between the two denominations.

To give a heads up on the confusing coin, Gladece Peneyra Escober wrote on her Facebook: “Kung kasing sukat man sana ng piso, sana hindi nalang ipinares sa kulay ng nito. Marami po kasing malilito. #HelloNewFivePesoCoin #UmpisaNgPagkalitoNgMgaTao”

In fact, Senator Nancy Binay pointed out that the new five-peso coin causes confusion among the public, aside from the negative effects on small businesses that rely on barya for their daily operations.

“It is best to keep an eye on those new five-peso coins. Lalo na doon sa mga nanunukli ng barya sa tricycle, jeep, tindahan at mga maliliit na negosyo. Sobrang nakakalito ang bagong limang-piso na halos magkasing hawig at laki lang ito ng piso,” the senator said in a statement, according to the Inquirer report.

The lady senator sought for the suspension of BSP’s release of the new Php5 coins to the public. Moreover, Binay bemoaned the lack of information dissemination to educate the public regarding the fresh designs on newly minted coins. Her statement partly read:

“Sana po ay merong maayos na info drive, media campaign or advisories na ginawa ang BSP bago ilabas ang mga bagong barya. We welcome the change if it’s an issue of security but the problem lies on the circulation where the new coins will co-exist with the P1, P5, and P10 coins that are now more widely used by the public.”

According to the central bank, the security features of the NGC Coin Series were strengthened to prevent counterfeiting, as well as enhancing the coins’ wear and corrosion resistance capacity.

The newly minted five-peso coin features the Father of the Philippine Revolution, Andres Bonifacio, on the obverse, or ‘head’, of the coin, replacing the first Philippine President Emilio Aguinaldo on the previous pale gold coin. The reverse side shows the Philippine endemic plant Tayabak. Other coin denominations will show national heroes and include flora only found in the Philippines.

Here are some of the netizen’s reactions to the new five-peso coin: