Philippine Peso Coins and Banknotes

Philippine Coins and Banknotes

Fake 10 Peso Coins

photo from photospill.com

The Central Bank never thought someone would actually bother counterfeiting 10 peso coins. To their big surprise, some syndicates did take up the challenge and minted fake 5 and 10 peso coins. In one raid, they even seized 5 million pesos worth of 10 peso coins.

A few clues on how to spot these fake coins:
  1. The fake coins are dated either 2001 or 2002. Be more careful with coins bearing these dates.
  2. Fake coins stick to magnets. While the genuine coins are made up of an alloy of aluminum, copper, nickel, and zinc, the counterfeit ones are made of steel.
  3. The fake coins tend to rust, real ones don't. This is because of their metal composition. The image above shows rust on the outer ring.
  4. The fake coins are lighter. Again, this is because they are made of a different metal.
  5. Fake coins are not well minted. Upon closer examination, the fake coins miss out some details. Click on the image above and you will see the "B" in "Bonifacio" to be distorted. The other letters are also indistinct. The edge of the inner metal (yellow) is also uneven.
Possession of these fake currency is illegal so surrender them to the nearest bank. Don't expect them to refund you!

Take note that only 10 and 5 peso have been counterfeited so far. Some 1 peso and 25 centavo coins stick to magnets, but this is because the Bangko Sentral changed their composition to prevent their smuggling. That's another topic.

7 comments:

Trina said...

Actually, I got one of these, too, from a jeepney driver. My husband spied it on my desktop and unwittingly used it to buy a cup of taho.

P.S. Thanks for visiting my son's homeschooling blog. Do come and drop by the BSP Money Museum when you visit Manila. And don't forget the Met museum also in the BSP grounds--take special note of the gold jewelry which also served as currency in our ancestors' times. :)

Rex said...

You're welcome. I really hope I could visit the Money Museum someday... someday. I have tons of questions for the people there! I also heard they provide guided tours to where they print the money and mint the coins..o sounds too good to be true! :D

--- lheya --- said...

thanks for the info....was never cross my mind someone will really make an effort to fake a 10 peso coin...omg...been quite a while i havent been home so dont know what's going on..i collect ph banknotes and coins & etc.

nookie said...

can we exchange those ten peso coins that has dates of 2000 and 2001 on the BSP???

Rex said...

@nookie: Yep, or with any other bank. However, they will only exchange it with money of the same value.

If you're wondering about its 'gold' content, check this out.
philmoney.blogspot.com/2008/04/gold-in-10-peso-coin.html

ja.. said...

is it true that the previous 1 peso bill is being smuggled becuz of its nickel content?

Anonymous said...

i have collected a can of 25 cents (and some 10 cents as well)
i wonder which are fake and not. Thanks for having this blog actively posted.