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    Authorities urge Filipinos to stop hoarding coins

    MANILA, Philippines (AP) — The Philippine central bank is appealing to the public to stop hoarding coins, saying the habit is forcing it to mint more money at a high cost.

    Deputy bank governor Diwa Guinigundo lamented on Sunday a shortage of coins in the country and noted that some Filipinos drill holes in coins and use them instead of more costly tokens for video games in violation of laws.

    He says other people keep change and later give it to charities. The hoarding is hurting monetary authorities, who have to spend at least 2 pesos (4 cents) for every coin that is not used.

    He says the central bank would save hundreds of millions of pesos (millions of dollars) if there were more coins in circulation.

     

    216 comments

    • Gina Gie  •  9 mths ago
      wala lang po kasing concern sa ating bansa ang bawat isa...puro lang kayabangan ang nalalaman..may freedom nga po tayo pero sobra nmn ang kaluwagan..pilipino manloloko..mandaraya...itaas nmn natin ang sarili nating bansa...alisin ang korupsiyon...isara ang mga night clubs kung saan teenagers ang mga prostitute na inaabuso ng mga manyakis na pulitiko..magtrabaho po tayo lalo na mga tamad na lalaki kumilos kayo.diba kayo nahihiyang asawa niyo nasa abroad tapos kayo ay nakaupo lang at naghihintay ng padala ni misis...what a shame..may mga mayayamn din millionaires magpatayo kayo ng mga charity 4 the strret childrens..share the blessings that you have to the poor and god bless you...
    • Andru  •  9 mths ago
      I save coins. I'm guilty, but as a Finance student, I know what to do...

      Still, coins are much more appealing to kids, and they are easier to save.
      • iSyndica8 9 mths ago
        then you should spread out your coins and keep your bills.. haha..
    • JM  •  9 mths ago
      yan din ung nagpapayaman kay henry sy...madalas walng barya pangsukli...halimbawa, walang 25cents...isipin mo, sa 4 milyong tao na namimili sa SM Group ang hindi nasuklian ng tama o eksakto bawat araw, malinaw na 1 million pesos agad and kinita nya na walang kahirap hirap...hehehehe...wise dba
    • Thucx  •  9 mths ago
      The Chinese were the one siphoning our coins coz they were using it in making cellphone parts and other manufacturing gadget! the BSP intelligence are in cohorts with these scheme if they don't know this! They are the one exporting our coins, You never know this things how come?
      • julius 9 mths ago
        very true indeed... in return for much cheaper cellphone compared to branded cp from europe
      • Christian 9 mths ago
        d po nagagamit ung coins as cellphone part sir..mostly sa cellphone, silicon or germanium ginagamit which is not found in coins..ahahahaha
      • Adam Elayan 9 mths ago
        ???
    • Edol  •  9 mths ago
      Maybe the trouble is not hoarding but people throwing away coins below one peso for nobody accepts them.
    • A Yahoo! User  •  9 mths ago
      Y does BSP keep on producing 1 cent, 5 cents and 10 cents if they are not accepted by retail stores. furthermore, chek nyo ang mga transpo fares, kapag sa taripa may mga 1, 5 and 10 cents pero pagbinigay mu sa driver or konduktor, rounded up to the nearest 25, 50 or 75 cents.
    • Allah  •  9 mths ago
      Don't Filipinos have their own symbols for writing? Why use western alphabets?
      • red 9 mths ago
        fak u chinese ... why is it that your name is jackson....and why do u write in western alphabet..... fak u again chinese in your face.......
    • Ai Leen  •  9 mths ago
      problema din ang hindi pagtanggap ng jeep, bus at maraming tindahan ng mga barya. choosy pa e pera naman binabayad mo. pinangsusukli pro di tinatanggap n pambayad.. di tulad sa UK, barya tinatanggap khit saan..
    • melodia  •  9 mths ago
      should u try studying or rather having a survey why we are hoarding coins?
      • iSyndica8 9 mths ago
        Asians has this trait of keeping or saving their money.
    • Earth  •  9 mths ago
      Who knew a topic about coins could force so much racists out of their rocks.

      And for me, coins play a big role in my daily life compared to a bill. For a start, I use coins in paying for transportation. Most Tricycle/Jeepney drivers don't accept bills especially in the morning run so I carry a couple of coins for that.

      Little do they know, I have a hard time counting the change. Kind of makes me wonder how they can pull off these simple calculations fast enough to immediately give changes to their passengers ;P
    • Earth  •  9 mths ago
      Money circulates :P
    • jobags  •  9 mths ago
      di nga tinatangap sa tindahan ang 5 at 10 cents, pati 25 cents nagrereklamo pa.. ^_^
    • RICHARD S  •  9 mths ago
      So they want the people to place their money in banks, in a country noted for * not * having the most honest financial system in the world ....
    • Paul P  •  9 mths ago
      may kilala ako, ka office ko wala na syang kapera pera, nagkalkal lang ng mga barya para makapasok....
    • aubrey b  •  9 mths ago
      maraming nag-ho-hoard ng coins dito sa amin. kasi sobrang uso dito sa amin ang computer shop na ang tawag ay "hulog-piso." kung saan parang alkansiya ang stilo ng paggamit ng naturang machine para makagamit ng internet.
    • kozz  •  9 mths ago
      give every Filipino a bank account and a debit card and they won't have to mint any coins at all.
    • Pink Me  •  9 mths ago
      walang sukli na coins ang SM and Galleria....
    • old nasty  •  9 mths ago
      You neglected to mention,that most of the people only have coins,because .their so poor!
    • Brenda Inte  •  9 mths ago
      si panot ang mahilig magtago nyan nilalaro nila ni joshua.
    • mirage  •  9 mths ago
      i suggest,alisin ung mga coins na hindi nmn tlga gngamit..esp cents..like ung 5cents na butas..nkakalat lang un kung saan2..
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