CIRCULAR LETTER
Series of 1996
TO : All Banks
SUBJECT : Acceptance of Old Central Bank Coins Due for
Demonetization for Replacement/Exchange Pursuant to
BSP Circular No. 81, Series 1995
In view of the complains from the consumers/public that banks do
not accept old coins due for demonetization for replacement/exchange in
accordance with BSP Circular No. 81, Series of 1995 re: Retirement of all
Central Bank Circulation Coins (copy of primer attached), we wish to remind
you that old coins which will cease to be legal tender on January 1, 1997
shall still be acceptable by all banks for replacement/exchange or deposit
at face value without charge until January 2, 1998 in accordance with said
BSP Circular. Therefore, you are hereby enjoined to accept all old Central
Bank coins in any amount surrendered to you on or before January 2, 1998
shall all banks refuse to accept these old coins as they shall have ceased
to be liabilities of the Bangko Sentral by said date.
For strict compliance.
EDGARDO P. ZIALCITA
Deputy Governor