PHILIPPINE COINS TO HAVE ELECTROMAGNETIC SIGNATURE

The Bangko Sentral ng Pilipinas (BSP) said yesterday said the proposed new generation coins would feature the electromagnetic signature (EMS) to guard against tampering and counterfeiting activities.

BSP Deputy Governor Diwa Guinigundo said the central bank’s Numismatic Committee has already completed a study on the various security features, design, and dimensions of the new generation coins.

“We will be finalizing all our recommendations for the approval by the Monetary Board. As provided by the BSP charter we will also be going to Malacañang for the presidential approval of the proposed design, security features, dimensions of the new generation coins,” he said.

To strengthen the security features of the new coins, Guinigundo explained the proposed coins would feature the EMS technology as high value coins are used in vending machines or payment for different services.

“We are also concerned about the so-called integrity of our coins. We must guard against possible tampering and issuance of counterfeit coins so we are introducing the so-called EMS that will allow the vending machines to reject counterfeits,” he said.

To read the complete article, see:
New coins to feature EMS technology – BSP (www.philstar.com/business/2015/10/30/1516253/new-coins-feature-ems-technology-bsp)

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