The E-Sylum:  Volume 9, Number 47, November 19, 2006, Article 19

PHILLIPPINE COINS CIRCULATING AGAIN

A November 12th article in the Asian Journal describes a recent
coin shortage in the Philippines, but notes that coins seem to be
returning to circulation.  The article also mentions the counterfeit
coins we discussed last month in The E-Sylum:

"The recent call of the Central Bank of the Philippines for the
public to still circulate the coins seems to have worked. Previously,
store-owners round the purchases to the nearest peso, not giving 25
to 50 centavo change. Now, I have an abundance of coins, not just the
25 or 50 centavo coins, but also 1, 5 and 10 peso coins as well. Yes,
Apolinario Mabini (the hero on the 10-peso bill) has retired and is
now a coin.

For the past weeks prior to my travel to Manila, news about fake
coins took the limelight. Apparently, millions of pesos worth of
coins were produced (officials are not sure how much of this amount
was circulated to the public) and some found their way to the pockets
of the working public.

Apparently, one needs a magnet to check if coins being given as loose
change are fake. If they are real, they won't get magnetized, but if
that shiny 10-peso coin gets stuck with your magnet, that's a hundred
percent chance that it's fake."

To read the complete article, see: Full Story

COUNTERFEIT COINS CIRCULATING IN THE PHILLIPPINES
esylum_v09n44a16.html

  Wayne Homren, Editor

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