Banknote error: blank reverse

Here is an interesting banknote error we encountered in ebay - the reverse of the 1,000 peso banknote was not completely printed! The image above shows the banknote with error (top) and how a normal banknote should have appeared (bottom).

The reverse of the error banknote is almost blank. Upon close inspection, it appears that all the lighter background colors were applied on the reverse in the litho printing step. What's missing is the dark-blue intaglio print which makes up most of the design.

, but the printer seems to have run out of the dark blue ink. This should give us an idea on how our paper money are printed.

Do you want to own this banknote? Hurry, before the auction ends! Buy it here.

Poll results: Which coins should be phased out?

After the voting period, a total of 27 casted their votes and here's what they have to say.

• 17 (62%) do not want to phase out any coin
• 10 (38%) want to phase out at least one coin wherein
• 10 (37%) want to phase out the 1 centavo coin
• 7 (25%) want to phase out the 5 centavo coin
• 6 (22%) want to phase out the 10 centavo coin
• 1 (3%) want to phase out the 25 centavo coin

Most of the voters do not see the need to phase out any coin. The preference to phase out a coin also decreases with an increase in its face value. Only one voted to phase out the 25 centavo coin, understandably because it is still widely used.

While our voters have chosen to keep all the coins legal tender, it does not prevent these small coins from being forgotten in piggy banks, drawers, and bag pockets.

In case you have a heap of coins cluttering your home or office, the Bangko Sentral has an award-winning program that aims to recirculate those coins and raise funds to provide computers to public schools.

The program's slogan sums it up: Ang Barya Mahalaga, Lalo na Kapag Pinagsama-sama

100-piso note with UP Oblation officially launched!

photo from BSP website

The Bangko Sentral ng Pilipinas has finally issued 100-piso banknotes with an overprint of the iconic UP Oblation to commemorate the centennial of the University of the Philippines (UP). Bangko Sentral printed 10 million pieces of the 100-piso banknotes with the oblation overprint. At its launching, Bangko Sentral ng Pilipinas Governor Amando Tetangco, Jr. presented to UP President Emerlinda Roman a whole sheet with 32 pieces of the 100-piso UP centennial banknotes.

According to UP President Roman, the 4-piece uncut notes being sold for P1000 a set took P500 to produce. That means for every set you buy, you are also contributing P500 for the development of UP.

Order your own collectible centennial notes now! The collectible uncut notes will be sold for P1,500 a set after June 30!

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.

2500 Peso Gold Commemorative Coin - Corazon Aquino / Ronald Reagan

Twenty Five Hundred Piso Gold Proof Coin
1986 State Visit of Corazon Aquino to the United States

photos courtesy of PandAmerica Corp.

Obverse: Corazon Aquino, Republika ng Pilipinas, 1986, 2500 Piso
Reverse: Ronald Reagan, Official Working Visit, Washington DC, September 1986

Shape: round
Material: Gold
Mintage: Approximately 1000
Date of minting: December 10, 1986
Months after the People Power Revolution of 1986, Philippine President Corazon Aquino made an official working visit to Washington DC to meet with President Ronald Reagan and other US Government officials. Regarded worldwide as a symbol of democracy, President Aquino's state visit must have been of historic importance that the Franklin Mint of the United States struck this gold proof coin to commemorate the event.