5 or 10 centavo coins

If you have seen some of the bills floating around, especially the 20's you would quickly realize there is no way to further deface the currency. A Table would be a welcome resting place for some under appreciated ....coins!

 

I think they heard about your plans?

Penalty for coin hoarding sought

Manila, Philippines --- The unscrupulous hoarding of coins will be penalized once a bill filed at the House of Representatives is enacted into law. In filing House Bill 1662, Iloilo Rep. Jerry Trenas expressed concern that such practice "is tantamount to economic sabotage, and is creating an artificial shortage of coins."

"The bill seeks to maintain the stability of the Philippine currency by discouraging private hoarding of coins and by encouraging the people to deposit their money in banking institutions. It aims to re-circulate the hoarded Philippine legal tender coins collected and kept by syndicates currently hoarding coins with impunity in the Philippines, which are in turn smelted and converted into another materials of various industrial uses," Trenas said.

Under HB 1662, which once enacted will be known as the "Anti-Hoarding of Philippine Legal Tender Coins Act of 2013," violators face a penalty of eight years imprisonment and a fine not exceeding P300,000. If the offender is a corporation, partnership or association, the penalty shall be imposed upon its president, managing director, managing partner, managers, or person charged with the administration, the bill said. "In all cases, the coins hoarded shall be confiscated and forfeited in favor of the government," Trenas said.

What amount is considered a "hoard" of coins anyways?

I'm sure if one counted all of the coins in a bank or large retail establishment it could be considered a "hoard".

Anyhow, if caught I would simply explain that I am NOT hoarding coins, but saving them for use at a later date. :p

 

I bet if you stop at just about any sari sari store you could get a lot of those coins. My mother in laws store has 2 change containers and they both have about an inch of those things on the bottom. Her way of savings?

 

Peso coin is easy to get. Pay with a 100 peso bill and ask for 50 peso coins, it works all the time. Good Luck!

 

Not at my mother in laws store, she doesn't make change. Need to make a purchase.

 

How often does your mother in law make a 100% profit? A 100 hundred peso bill for 50 pesos in return is a good deal.

 

Never, it was supposed to be humorous.