RETIREMENT OF ALL EXISTING CENTRAL BANK CIRCULATION COINS

CIRCULAR NO. 81 Series of 1995

RETIREMENT OF ALL EXISTING CENTRAL BANK CIRCULATION COINS

English Series:10-centavo denomination Pilipino Series:1-piso, 50- 25- 10-, 5-, 1-sentimo denominations Ang Bagong Lipunan (ABL) Series: 5-, 1-piso, 25-, 10-, 5-, 1-sentimo denominations Flora and Fauna (FF) Old Series:5-, 2-, 1-piso, 50-, 25-, 10-, 5-, 1-sentimo denominations Flora and Fauna (FF) Improved Series:2-, 1-piso, 50-, 25-sentimo denominations

Pursuant to Section 56 of Republic Act No. 7653, otherwise known as the New Central Bank Act, Central Bank Coins of the English, Pilipino, Ang Bagong Lipunan (ABL), Flora and Fauna and Improved Flora and Fauna Series shall be surrendered to the Bangko Sentral ng Pilipinas (BSP) or to its authorized agent banks, commercial banks, thrift banks (savings banks, development banks and stock savings and loan associations) and rural banks, for replacement or exchange at par with Bangko Sentral new coins starting January 2, 1996.

Said old series of Central Bank coins shall be legal tender for a period of one year ending January 1, 1997. After this period, they shall cease to be legal tender but may be exchanged or replaced at par without charge with legal tender currency at the BSP Cash Department or any BSP Regional Offices/Cash Units or agents duly authorized by the BSP for this purpose, during the following year ending January 2, 1998.

After January 2, 1998, the aforementioned Central Bank coins which have not been exchanged shall cease to be a liability of the Bangko Sentral ng Pilipinas and shall be considered demonetized.

GABRIEL C. SINGSON Governor