Destroying coins? BSP, PNP wants you to rethink. Here’s why

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THE Bangko Sentral ng Pilipinas (BSP) and the Philippine National Police (PNP) said that they have filed criminal complaints against the six individuals arrested for the deliberate destruction of Philippine coins.

In a statement released on Monday, February 3, 2025, the BSP confirmed that the arrests were made through separate entrapment operations conducted by its Payments and Currency Investigation Group, in collaboration with the PNP Criminal Investigation and Detection Group in Siquijor and Boracay.

The BSP’s Payments and Currency Investigation Group (PCIG) and the PNP Criminal Investigation and Detection Group (CIDG) submitted the charges to the Siquijor Provincial and Aklan Provincial Prosecutor’s Offices, respectively.

One of the suspects was identified as “Jess”, who went viral on social media after he destroyed a 10-peso coin to turn it into a ring in Siquijor.

“I was lying on Paliton Beach in Siquijor in the Philippines when someone came over to me and asked me if I like art. Obviously my answer was yes,” said the tourist who posted the encounter on her Instagram.

She said that she was offered to have a ring made out of a 10-peso for the price of PHP1,500.

Meanwhile, another individual was arrested in Boracay for the same offense.

Under the Presidential Decree No. 247, the law forbids the willful defacing, damaging, tearing, burning, or destruction of Philippine banknotes and coins. It is punishable by five-year imprisonment and a fine of up to PHP20,000.

“The BSP reminds the public to handle all Philippine banknotes and coins with due respect and dignity, and to protect their integrity as part of the country’s rich culture and heritage,” said the central bank.