The Bangko Sentral ng Pilipinas (BSP) has issued a renewed warning to the public that melting, defacing, or deliberately damaging Philippine coins—including commemorative issues—is a criminal offense punishable under existing law.
In an advisory, Bangko Sentral ng Pilipinas reminded the public that Presidential Decree No. 247 strictly prohibits the willful defacement, mutilation, tearing, burning, or destruction of Philippine currency issued by the central bank.
This prohibition applies to both circulating coins used in daily transactions and commemorative coins produced to mark important national milestones.
Under the decree, violators may face imprisonment of up to five years and a fine of up to ₱20,000, underscoring the government’s intent to protect the integrity of the country’s legal tender.
The BSP stressed that coins are minted to facilitate everyday commerce and serve as a reliable medium of exchange. Commemorative coins, meanwhile, are issued to honor significant events in Philippine history, highlight national landmarks, and recognize the enduring legacies of distinguished Filipinos.
Any act that damages or destroys these coins undermines both their monetary function and their cultural value.
The central bank called on the public, businesses, and collectors to use coins responsibly and strictly for their intended purpose, emphasizing that safeguarding the integrity of Philippine currency is a shared responsibility essential to maintaining trust in the country’s monetary system.