Philippines revealed the new design for the 7.4 grams P5 coin belonging to the New Generation Currency Coin Series, a day before the 154th birth anniversary of the father of Philippine Revolution. The date also denotes Bonifacio’s 120th death anniversary. Bonifacio started the secret society Katipunan, whose revolution led to the declaration of the Philippine Independence in 1898.
The silver coins featuring Gat Andres Bonifacio on the obverse will be released in December. Other inscriptions on the obverse include "Andres Bonifacio," "5-Piso," "Republika ng Pilipinas" and the mint mark. The reverse features a Tayabak which is a Philippine plant that grows on forest trees. Other inscriptions in microprint include BSP logo and "Bangko Sentral ng Pilipinas".
The former President Emilio Aguinaldo is featured on the current P5 gold coloured coins. Other coins in the series will be circulated n January 2018. The new coins will depict the BSP logo, national heroes and endemic flora, similar to the theme followed by the NGC Banknote Series that began in 2010.
Latest minting technology will be used for producing these coins. They also come with improved security features along with wear and corrosion resistance. It might reduce BSP minting costs and combat fluctuations in metal prices. This will prevent illegal hoarding of coins for melting and trading.