2017-07-24 Mon

Philippines will be releasing and circulating redesigned coins with new security features by the end of 2017. Officials also stated that they would be discontinuing the issuance of the 10-centavo coin. They will roll out the new coins after the bidding of one of the denominations works out. The old coins will be demonetised over a period of one to two years. They stated that it is more difficult to demonetise coins than bank notes. That’s the reason why they have kept a long window period for the public to get their old coins exchanged with new ones.