new Php1.00 Rizal coin

The Bangko Sentral ng Pilipinas (BSP) has released new Php1.00 coins late last year to commemorate the sesquicentennial of Jose Rizal's birth. Rizal, the Philippines' national hero, was born in June 19, 1861 and was executed in December 30, 1896 by the Spanish authorities for his subversive writings. His death is one of the many events that sparked the revolution that overthrew the more than three centuries of Spanish rule in the Philippines.

The coin's obverse shows markings such as "150 years," "Republika ng Pilipinas," and "1861-2011." It also bears a portrait of Rizal that is noticeably bigger. He is also not facing sideways this time. The reverse side shows the new BSP seal and "1-Piso" and "2011" etchings. The nickel-plated steel coin however, has the same size (24 millimeter) and weight (5.35 grams) as the current Php1.00 coin in circulation.

My friends and I were able to literally pick up a few pieces of the new Php1.00 coin over the weekend. Our friend who is currently connected with BSP, tossed a whole bag of these to usher in prosperity in his new home. We sure did our best to behave like mature adults during that afternoon frenzy. But I know that our excitement would eventually wear off, when the 10 million commemorative pieces that the BSP released would be widely circulated in the next few months.