The Bangko Sentral ng Pilipinas (BSP) issued an advisory Wednesday, reminding the public that melting and damaging Philippine coins, as well as commemorative coins, is punishable by law under Presidential Decree No. 247.
The decree prohibits individuals from “defacing, mutilating, tearing, or partially burning or destroying” any BSP-issued currency.
Individuals found guilty of these acts could be imprisoned for up to five years and fined with an amount not exceeding P20,000, it said.
The BSP said that coins are intended as payment for daily transactions, while commemorative coins are issued to highlight the significance of Filipino culture.
“The BSP urges the public to help safeguard the integrity of the Philippine currency by using coins responsibly and only for their intended purpose,” it said.
