Bunye: Jose Rizal Commemorative Coin

Sunday, December 18, 2011

IT IS a gift befitting a hero of his stature.

For his 150th birth anniversary, our national hero Dr. Jose Rizal received a special gift in the form of the one-piso commemorative Rizal coin.

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A special collaboration between the Rizal Foundation and the Bangko Sentral ng Pilipinas (BSP), the coin features one of the most popular portraits of Rizal.

The BSP produced 10 million pieces of the round, grayish, nickel-plated steel coin. The BSP started releasing the commemorative one-piso coins last week.

The face of the coin features the portrait of the hero and the markings, “150 years,” “Republika ng Pilipinas,” and “1861-2011.” The reverse side, on the other hand, shows the new BSP seal, “1-piso” and “2011.”

It has the same size (24-millimeters in diameter) and weight (5.35 grams) as the one-piso coin currently in circulation.

Dr. Paterson Encabo, head of the BSP’s Mint Refinery and Operations
Department (MROD), said the Rizal Foundation (made up of the relatives of our national hero) had proposed the idea of minting a commemorative coin in honor of Rizal’s 150th anniversary.

The hero’s relatives initially wished that a young Rizal be portrayed on the coin. In the end, however, a more recognizable photo of the hero was used.

The BSP also decided that the new BSP seal be showcased on the coin’s reverse side.

“We believe that this is the opportune time to introduce to the Filipino people, by way of this coin, the BSP’s new seal,” Encabo said. (Current coins in circulation carry the old seal.)

After the MROD finished the coin’s design, it passed through various stages of approval by the BSP Numismatic Committee (I sit as Advisor
of the Committee), the Monetary Board, and finally, the Office of the President.

Just a little refresher on the BSP’s new seal: The Monetary Board had chosen the Philippine Eagle, our national bird, as the seal’s central symbol. The Philippine eagle is reputed to be the world’s largest eagle and stands as a symbol of strength, keen vision, and independence–qualities which the BSP aspires for in its quest to become a world-class monetary authority.

The logo also includes three stars, representing the three pillars of central banking: 1) price stability, 2) a stable banking system, and
3) a safe and reliable payments system.

The three stars can also be interpreted to represent BSP’s equal concern for the impact of its policies and programs on all Filipinos–whether they are in Luzon, Visayas, or Mindanao.

The use of non-serif, bold fonts for “BANGKO SENTRAL NG PILIPINAS” suggests solidity, strength, and stability. It also portrays the no-nonsense professional manner of doing business at the BSP.

Lastly, the logo’s round shape stands for the BSP’s continuing and unending quest to become a world- class monetary authority committed to improving the quality of life of Filipinos. This round shape is also reminiscent of Philippine coins, the basic units of our currency.

Aside from the December 2011 release of the commemorative one-piso
coin, the BSP paid tribute to Rizal earlier this year through the exhibit, “Rizal in our Midst: A Homage to Greatness.”

The July 17, 2011 exhibit, showcased coins and banknotes (where
Rizal’s image or monument appear), ranging from five centavos to 100 pesos, that were issued since 1903.

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