How to spot fake 5 and 10 Peso Coins
We all have heard of the news that certain syndicates are fabricating fake 5 and 10 peso coins. We now have to be more careful because most of us rich or poor use coins. So how do we spot these fake coins?
According to authorities, fake coins are rough in texture whereas genuine coins are smooth, and the 5 and 10 peso coins are composed of copper, nickel, aluminum and zinc while their fake counterparts are made of steel so they stick to magnets. So carrying a little piece of magnet around can help you check the coins that you have. If you suspect that you have a counterfeit coin, surrender it to the authorities right away. If you’re expecting for a reimbursement, you’re out of luck because the BSP won’t replace your fake coins with real ones.
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November 14th, 2006 at 2:29 pm
does one peso included on the reproduction of fake and how can
you detect fake does magnets work
November 15th, 2006 at 10:29 pm
I have 1 peso coins that are magnetic. So are they fake?
November 16th, 2006 at 12:42 am
what have BSP have to say about that counterfeit bill issue? Have they already released a guidelines for the said counterfeit 5 & 10 coins? What are the minimum sanctions upon possession of this coins?
November 22nd, 2006 at 8:00 pm
so magnets are a requirement, aren’t they??…i bet nobody would mind surrending the
coins to bsp..they would rather keep the fake ones than spend money to return the coins
when they know that there won’t be refunds….well, maybe not all..
November 22nd, 2006 at 11:33 pm
no need to test the 1 peso and 25 centavo coins because syndicates won’t waste time counterfeiting them.
December 25th, 2007 at 10:02 pm
no, not even the banks accept counterfeit notes. and no, one peso coins and .25 cent coins are not fake if it sticks to the magnet.
another info for all of you. be cautious also when receving change, especially those 20 bills that are torn in half. inspect if both serial numbers on the left and right are still the same, the banks won’t accept different serial numbers because that bill has no monetary value anymore. same on any denomination. i should know because i work in one :)
May 6th, 2008 at 4:05 pm
i’ve got 24pcs of 1peso coins which was given to me as a change to my 100bill after loading my phone 25pesos. i somehow suspect it to be fake. it was all shiny but were dated 2003-2004. when i was counting my coins, i was surprised that one of the coins stuck to the magnet of my wallet. i started to check if the other coins will stick too and they did! i am not really sure if my suspicion is right because some articles say that there are really some coins that stick to magnets for the reason that BSP changed its material.. i read a blog with the similar experience and he said that he recieved coins dated 2003-2004 but it was heavier and mine was lighter… pls help, i really dont know what to do cause there are some kind of inconsistency in the articles ive read.. thnx
May 6th, 2008 at 4:09 pm
…a nd one was even dated 1993
May 8th, 2008 at 12:17 am
hello mae. you’ll be sure its a fake coin if the small letters on the faces of the coins are unreadable. and the lines on the edge of the 1-peso coin are unnatural/unequal, like pinilit na magkalinya.
yes, it may be matrabaho to scrutinize these little coins but that’s one of the security features of the 1peso coin.
the magnets don’t work on 1- and .25- peso coins because these coins have elements that can make it stick to a magnet. in using magnets use big or chunky magnets, don’t just use those on your ref doors.