BSP Reminds Public: Destroying Coins Is Illegal

Photo courtesy of Balita

The Bangko Sentral ng Pilipinas (BSP) reiterated the illegality of destroying coins, emphasizing the legal consequences outlined in Presidential Decree No. 247. Announced on Thursday, January 5, the BSP warned that those caught intentionally damaging, ripping, or burning both paper bills and coins could face up to five years in prison and a fine reaching ₱20,000. The BSP urged the public to responsibly use coins for daily transactions, preserving the integrity of the national currency.

This reminder comes amidst rising concerns over the misuse of currency, with the BSP highlighting the importance of treating money with respect. The law serves as a measure to maintain the economy's functionality and prevent monetary wastage. Despite technological advancements in digital payments, physical currency remains crucial for many Filipinos in everyday transactions.

Experts stress the need for continued public awareness campaigns to educate citizens on the legal framework surrounding currency use. The BSP has launched various initiatives to promote awareness and responsible currency handling. They also released commemorative coins celebrating cultural events, including the "Sinulog festival" coin in January 2026 and the "Tan-ok ni Ilocano" coin in February 2026, marking the 208th anniversary of Ilocos Norte.

Looking forward, the BSP plans to implement more programs aimed at enhancing public knowledge of currency laws. These initiatives will complement ongoing efforts to celebrate cultural heritage through special coin releases. The hope is that through education and engagement, the public will better appreciate and care for the nation's currency, reported Balita.

Key Takeaways

• Destroying currency is illegal under Presidential Decree No. 247.

• Violators may face up to five years in prison and a ₱20,000 fine.

• BSP promotes public awareness and cultural heritage through coin programs.

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Adapted by ASEAN Now from Balita 2026-02-05