Bangko Sentral ng Pilipinas on Monday launched P10 commemorative coins featuring Miguel Malvar, the last Filipino general who surrendered to the Americans during the Filipino-American war.
“The BSP will issue 10 million pieces of this commemorative coin,” Bangko Sentral Deputy Governor Diwa Guinigundo said in a news briefing.
Guinigundo said the production cost for the Malvar coins was P4.23 apiece, almost similar to the existing P10 coins. “The cost is much less than the face value,” he said.
President Benigno Aquino III approved the production of the Malvar coins on Oct. 1, 2015. Guinigundo said the coins would be available starting Dec. 22 at Bangko Sentral offices and branches.
The obverse side of the coin shows the portrait of Malvar and the markings “10-Piso,” “Republika ng Pilipinas” and “Heneral Miguel Malvar.” The reverse side has the new seal of the Bangko Sentral and the markings “150 taon,” “1865-2015,” and the “Monument of Malvar.”
The coin is made up of 75 percent copper and 25 percent nickel and weighs 8.7 grams with a diameter of 26.5 millimeters.
Malvar was the last Filipino general to surrender to the Americans during the revolution. After the capture of General Emilio Aguinaldo and the surrender of other Filipino generals, Malvar assumed full command of the revolutionary forces. Guinigundo said Malvar’s valor, resilience and patriotism served as inspiration to his fellow Filipinos.
Bangko Sentral commemorates significant events and heroic Filipinos in the country’s history through the minting of coins, medals or overprints on banknotes.
The most recent commemorative coins issued by Bangko Sentral were for the 150th year of national hero Jose Rizal in 2011, the 150th year of Andres Bonifacio in 2013, 150th year of Apolinario Mabini, 70th year of the Leyte Gulf landing and Bagong Bayani commemorative coins in honor of overseas Filipinos in 2014, and the pastoral/state visit of Pope Francis in 2015.
Guinigundo also said that Bangko Sentral was currently finalizing the specifications of the New Generation coins to be issued three years from now, wherein the old coins would be phased out.
Guinigundo said Bangko Sentral was studying which coins would be replaced and which would be retained.
