Philippine Peso Coins and Banknotes

Philippine Coins and Banknotes

Poll: Which coins should be phased out?

Do you think it is practical to use the small centavo coins? Most of these 1, 5, 10, and 25 centavo coins are probably hidden away and forgotten in piggy banks and donation boxes. What can you buy with them anyway? Please vote on our poll at the right side of this blog. You may choose more than one option.

Other than some established supermarkets in the country, most stores would round-down your change to the nearest 25 centavos. Some would even substitute candy as change because they don't have enough of the small coins. Why? Simply because the small centavo coins hardly circulate since people don't bother to use them anymore.

Why mint these small coins if they have no practical use? With high metal prices, they have become expensive to mint and prone to smuggling. Facing similar problems, other countries already phased out their lower denominated coins and mandated that transactions should be rounded off to the lowest available coin (e.g. 5 cents).

Should the Bangko Sentral insist on producing these small centavo coins? Or should it focus on its Coin Recirculation Program instead? Please vote on our poll.

This poll has ended. See the results.

2 comments:

jhon said...

i think we can still use them but then again few people accept them anymore but if they are going to be phase them out for real keep some maybe in years those coins will be worth thousands

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