Philippine coins: Trivia about the New BSP Series 10 Piso Coin

Here are 10 interesting facts about our 10 Piso coin.

10 PISO New BSP Series
OBVERSE REVERSE
2000 10Piso New BSP Series Obverse 2000 10Piso New BSP Series Reverse
  1. 10 Peso coin was made to replace the 10 peso banknote that was traded so frequently that the life span just got too short for its use to be economical. This coin came into being to eliminate the need to frequently print 10 peso banknotes. Coins last much much longer than banknotes.
  2. 10 peso coins with the year 2000 are all commemorative coins. BSP minted the 10 peso coin in 2000 to celebrate the new millennium.
  3. 10 peso coins dated 2001 onward are regular circulation coins. Save for the year mark, the design is the same as the year 2000 commemorative coins.
  4. This is the first bi-metallic coin of the Philippines. The coin has an aluminum-bronze center in a copper-nickel ring.
  5. It is part of a series called New BSP Series, but minting of the lower denominations, 1 Sentimo to 5 Piso, started in 1995. The 10 peso coin was a late addition to the series.
  6. This coin has been cointerfeited.
  7. Its been rumored that the center of the coin contains gold. Don’t believe it, its not true.
  8. Its also been rumored that 10 peso coins with the year mark 2000 and 2001 contain the highest concentration of gold, up to 10 karats. Again, not true.
  9. 10 peso coins with the year mark 2000 are being sold online for as much as 300 Pesos because of the rumors (7 & 8). Its a scam! you’ve been warned.
  10. Still related to number 7 and 8, people have tried melting the center of the coin to make them into rings and allegedly pawning them for profit. By the way, its illegal to deface money. So stamping out the center of this coin is quite literally, a crime. You may refer to Presidential Decree 247.

Enjoy!

~ by MAV on August 23, 2015.

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