The Central Bank of the Philippines has reminded the public that melting and other acts that damage Philippine coins, including commemorative coins, are punishable under the law. Under Presidential Decree No. 247, it is unlawful to willfully deface, mutilate, tear, burn, or destroy Philippine currency issued by the Bangko Sentral ng Pilipinas, with penalties of up to five years’ imprisonment and a fine not exceeding PHP 20,000. The central bank reiterated that coins are intended for everyday payment transactions, while commemorative coins are issued to highlight significant events in Philippine history, landmarks, and the legacies of notable Filipinos, and urged the public to use coins responsibly to help safeguard the integrity of Philippine currency.
Central Bank of the Philippines 2026-02-03
Central Bank of the Philippines warns melting or damaging coins can lead to up to five years’ imprisonment and a PHP 20,000 fine
The Central Bank of the Philippines has reiterated that damaging Philippine coins, including commemorative ones, is illegal under Presidential Decree No. 247, with penalties of up to five years' imprisonment and a fine not exceeding PHP 20,000. The bank emphasized the importance of using coins responsibly to maintain the integrity of the currency.