photo from photospill.comThe 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:
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.
A few clues on how to spot these fake coins:
- The fake coins are dated either 2001 or 2002. Be more careful with coins bearing these dates.
- 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.
- 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.
- The fake coins are lighter. Again, this is because they are made of a different metal.
- 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.
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.
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.
ReplyDeleteP.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. :)
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
ReplyDeletethanks 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.
ReplyDeletecan we exchange those ten peso coins that has dates of 2000 and 2001 on the BSP???
ReplyDelete@nookie: Yep, or with any other bank. However, they will only exchange it with money of the same value.
ReplyDeleteIf you're wondering about its 'gold' content, check this out.
philmoney.blogspot.com/2008/04/gold-in-10-peso-coin.html
is it true that the previous 1 peso bill is being smuggled becuz of its nickel content?
ReplyDeletei have collected a can of 25 cents (and some 10 cents as well)
ReplyDeletei wonder which are fake and not. Thanks for having this blog actively posted.
I have ten piso 2002 2011 2001.. i have 5 piso 2001 2001 2001 1998.. i have 25 sentimo 1998 1996.. All COINS NO MAGNET
ReplyDeleteWhy did'nt think about error in minting? It always happen. And if these so called counterfeit using common sense it will never profit the culprits to make such coins of less value and how many millions should they make to get back the worth of minting such coins. Would they never think that everything will come to an end in a short period of time? It is also odd when there are no counterfeited 10P by the millions in circulation for the accusation. You could only find a pc or two in a hundred thousands pieces of 10 pesos.
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ReplyDelete