Large hoard of peso coins recovered in Philippines

davidlhyde63366

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A good article on a raid netting a large number of Philippines pesos , ( bear in mind it takes about 50 pesos to 1 USA dollar. ) Would love to look through them for any rare or valuable ones. Sure i could find a few i need for my collection. https://www.bworldonline.com/bsp-ca...C2p-KccbpQYhJC5BY2JC_wrebtTXJDXMS0OBC7Gxqn0R4 and https://philnews.ph/2021/10/02/authorities-seized-p50-m-worth-of-coins-luxury-cars-in-qc-warehouse/

You could hope they might auction them off by the bag and you could bid on one :lol:
 
Coin horde in Philippines

KT is sure glad He does not live in the Phillipines! They would be after Him for certain for His Royal Silver Half Horde! :laughing::laughing::laughing:

The really funny thing was them hording such a low value coin to start with, a Peso which is their dollar, is worth about 2 cents in American money , won't buy much. While there have been silver Peso coins in the past (i have quite a few ) i espically love the 1903-1912 silver Peso issued by the USA/Philippines . The ones they horded would be common clad ones (https://en.numista.com/catalogue/pieces17107.html ) Would be like some one trying to horde clad common pennies. Most criminals would of converted them to USA 100 dollar bill which are very popular over there. Lots of money changers over there and you can get a better exchange rate if you have brand new 100 dollar bills. My best guess is the pesos came from the number rackets where people bet on a daily lottery. I played it over there for fun when i was there. :laughing:
 
The really funny thing was them hording such a low value coin to start with, a Peso which is their dollar, is worth about 2 cents in American money , won't buy much. While there have been silver Peso coins in the past (i have quite a few ) i espically love the 1903-1912 silver Peso issued by the USA/Philippines . The ones they horded would be common clad ones (https://en.numista.com/catalogue/pieces17107.html ) Would be like some one trying to horde clad common pennies. Most criminals would of converted them to USA 100 dollar bill which are very popular over there. Lots of money changers over there and you can get a better exchange rate if you have brand new 100 dollar bills. My best guess is the pesos came from the number rackets where people bet on a daily lottery. I played it over there for fun when i was there. :laughing:

Interesting! Thanks for the insight! :D
 
scrap metal value of coins

Interesting! Thanks for the insight! :D

They had a article on why some of the coins are being horded , though if that is the case most of their lower value coins centavos which are still issued by law are pretty much worthless in buying power . Would take a big bag of them to buy a soda . Article below

MANILA, Philippines—Hoarding coins? You could be penalized. But if you’re only saving up in a piggy bank, don’t fret.

The Senate has begun hearing a bill seeking to penalize individuals or groups engaged in the large-scale hoarding and export of coins.


Banking authorities conceded that the hoarding of coins for melting into raw materials for mobile phones, computers and other gadgets was a “big problem.”

All Philippine coins are made of copper, brass, nickel, aluminum or steel. The rising values of these metals have encouraged syndicates to hoard and export the coins, leading to a coin shortage that began in 2004. Sicat said the BSP could set a limit, say P5,000 for small savers, and another limit for retailers who keep coins for change.

The bill, known as the proposed “Anti-Hoarding of Philippine Legal Tender Coins Act,’’ imposes a penalty of eight years’ imprisonment and a fine of not less than the face or intrinsic value of the coins, not exceeding P300,000, for coin hoarding.
 
Yeah, that looks like someone getting ready to scrap coins based on the metal value. Illegal like melting pennies in the US but people still sell copper pennies in bulk in the US for triple face value...
 
scrap value of Peso .

Yeah, that looks like someone getting ready to scrap coins based on the metal value. Illegal like melting pennies in the US but people still sell copper pennies in bulk in the US for triple face value...

most of those would be nickel platted steel not sure how much the value of scrap for that would be. On this site give information on them. https://en.numista.com/catalogue/pieces17107.html they also pointed out some thing interesting , (Interestingly, the 1 Piso coin is almost an exact match in size, weight, and composition with the (more than 10 times more valuable) 1 dirham coin from the United Arab Emirates. Because of the large Filipino population working in the U.A.E., this fact was quickly discovered and is now widely used to exploit vending machines. https://gulfnews.com/uae/hey-presto-a-pesos-as-good-as-a-dirham-1.38628 )
 
Coin operated tolet paper dispensers in the Philippines , use those Peso coins

Peso coins will still buy you a few sheets of single ply tolet paper from a vending machine in public restrooms in the Philippines ,https://static.wixstatic.com/media/...66d0_7104fed9617048328c3a0653e9251960~mv2.jpg . I found out the hard way to always bring some with you , when out and about. Also figured out why the women always had about a 1/2 roll of tolet paper folded up in their purses. :laughing:
 
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