(Eagle News) – The Bangko Sentral ng Pilipinas announced the release in advance of the new P5 coin that will feature the portrait of Philippine revolutionary hero, Gat Andres Bonifacio, instead of the previous image of Emilio Aguinaldo who is officially recognized as the first Philippine President.
The BSP said that five peso coin in the New Generation Currency (NGC) Coin Series which featured Bonifacio on the obverse or front side “highlights the 120th death anniversary of the Filipino patriot this year and his 154th birthday on November 30.”
The new P5 Bonifacio NGC legal tender coin will be released in advance of the other NGC coins, starting this December.
“Widely regarded as one of the Philippines’ greatest heroes, Bonifacio was a fearless leader who founded the Katipunan, the secret society that ignited the flames of the revolution which finally led to the declaration of Philippine independence in 1898. Bonifacio died on 10 May 1897,” a BSP release said.
“Thus, considered as the Father of the Philippine revolution, Bonifacio’s portrait is etched on the obverse of the coin, along with the markings, ‘ANDRES BONIFACIO’, ‘5-PISO’ and ‘REPUBLIKA NG PILIPINAS’ in bold font and in microprints, and the mint mark,” it said.
“The reverse side, meanwhile, features the Tayabak, a Philippine endemic plant that climbs tall forest trees, the BSP logo and ‘Bangko Sentral ng Pilipinas’ in microprint. The 5-piso NGC coin is 25-millimeters in diameter and weighs approximately 7.4 grams.”
The BSP said the NGC Coin Series adopts the latest technology in minting coins.
“The security features of the NGC Coin Series are enhanced to deter counterfeiting, improve wear and corrosion resistance capabilities, saves the BSP minting costs, avoids risks arising from unexpected volatile swings in metal prices, and also deters the illegal hoarding of coins for melting and shipment to other countries,” the BSP release said.
Coins in the NGC Series will feature the BSP logo, national heroes and endemic flora, consistent with the design of the NGC Banknote Series, launched in 2010, which also highlights Philippine fauna.
The rest of the denominations of the NGC Coin Series will be released by the BSP for circulation in January 2018.
The BSP unveiled the new P5 coin on Wednesday, Nov. 29, a day before Bonifacio’s 154th birth anniversary and on the 120th year of his death.
Historical accounts and records showed that Andres Bonifacio, along with his brother, Procopio, was executed on May 10, 1897 upon orders of Aguinaldo’s government which charged Bonifacio with treason and with conspiracy to murder Aguinaldo.
Some historians even considered Andres Bonifacio to be the rightful first President of the Philippines instead of Aguinaldo.
Historians have also condemned the trial of the Bonifacio brothers as unjust, as the jury was entirely composed of Aguinaldo’s men.
(Eagle News Service)