BSP Warns About “Brilliant Uncirculated 20-Piso Coins” Sold Online

by

BSP Speaks About Online Offers of “Brilliant Uncirculated 20-Piso Coins”

BSP – Bangko Sentral ng Pilipinas warned the public about the “Brilliant Uncirculated 20-Piso Coins” that are being sold online.

Despite the presence of online or digital currencies now, bank notes and coins remain to be the ones used in purchases and most financial transactions in the Philippines. The management of its release and circulations is spearheaded by Bangko Sentral ng Pilipinas or the Central Bank of the Philippines.

There were several cases in the past when the top government bank released new bank notes. Due to many people handling them amid the massive circulation of money, paper bills get torn after a few years of usage.

The BSP implement changes not only on the bank notes but as well as coins. There are new coins and truths be told that many people are fascinated with the new ones.

BSP
Photo: Business Mirror

However, recently, the BSP warned the public about the “Brilliant Uncirculated 20-Piso Coins” that are supposedly sold online. In its advisory, the central government bank stressed that they did not release the said brilliant 20-Piso coins.

According to the top government bank in PH, they released the 20-Piso New Generation Currency (NGC) circulation coins since December 2019. These coins are “legal tender” and can be used in the every day financial transactions like payments for purchases to public and private establishments.

This is not the first time that BSP warned the public against a similar matter. In October 2020, they issued a similar advisory to the public.

The 20-Piso coin released by the bank starting December 2019 is a replacement to the bank note according to the Central Bank. Meanwhile, currently, both the bank notes and the coins are used by the public.

Leave a Comment