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 Your Thoughts on the New Banknote Designs?

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Kalookan

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PostSubject: Your Thoughts on the New Banknote Designs?   Sat Dec 18, 2010 9:27 am

My initial reactions to the new notes:

The portraits have a distinctive three-dimensional appearance.

The 500 piso note clearly represents the greatest change among the new designs, not only because of Cory's portrait, but also the symbolism of the background on the front of the note, and the theme, "Icons of Democracy." Interestingly, the portrait of Cory appears to come from her post-presidential life.

The portrait of Sergio Osmena seems to be a major departure from the previous versions on the 50 piso notes.

The full-color coat of arms, the new BSP seal, and the outline map on every note are striking!

The "natural wonders" theme is imaginative.

The only downside seems to be placement of the wildlife in the center of the note - its highest wear area. Overall, I would give the designs a score of 10 out of 10!
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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Sat Dec 18, 2010 12:46 pm

The BSP had a real chance to show the world what banknotes should look like, but instead they rehashed the old ones after a 20 minute photoshop upgrade. I am glad Gloria's gone from the P200 (1 out of 10). Has anyone noticed how all the ex-presidents have seem to grown younger since their last "banknote photoshoot"?
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abe

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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Sun Dec 19, 2010 7:38 pm

I would like to design to be a combination of flora/fauna and "Philippine icons" like the jeepney, kalesa, gesture of pag mamano. etc.

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josie



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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Tue Dec 21, 2010 11:47 pm

Just posting.

http://www.gmanews.tv/story/208769/scientific-names-on-new-peso-bills-written-incorrectly

http://www.asiantribune.com/news/2010/12/20/another-look-new-philippine-banknotes

http://www.google.ie/search?client=firefox-a&rls=org.mozilla:en-GB:official&channel=s&hl=en&q=philippines%20coin&um=1&ie=UTF-8&tbo=u&tbs=nws:1&source=og&sa=N&tab=wn

http://news.google.ie/news/more?client=firefox-a&rls=org.mozilla:en-GB:official&channel=s&hl=en&q=philippines+coin&um=1&ie=UTF-8&ncl=detqg53vxZ6HGbMNlfCoiY_qAN6yM&ei=7d0QTaKKB4OGhQfm9K24Dg&sa=X&oi=news_result&ct=more-results&resnum=1&ved=0CCQQqgIwAA

http://www.mb.com.ph/articles/294276/another-look-new-philippine-banknotes

What are they are using for printing Plates.how expensive is those master plate?

Dont how the BSP will print the parrot with three primary color RBG red blue green.

Printing takes several layer if it is multi coloured it will be hard blue is the hardest or dak syline blue dont know what pigment they will use if the color blue in the parrot is just like a lapiz lazuli it might be expensive.

There are several printing background,then design then the serial number or overprint,I think.

the 1000 peso bill is colorfull but with much security than other bill the color of the coral is with different color in much detail than the other bill or banknote.

While the 20 peso bill the rice terrace is not green instead it yellow same as the detail on the parrot.

More detail will takes several printing or with several printing plate.

Lots of repair and tooling for the master plate,they can have another printing plate from those printing plate that are worn down to reuse it to have more detail it might be expensive.

Beside they will have another master die or printing plate when the signatories change maybe anoher design for the next president after next election.

Just like coins issued during roman times new coin for new emperor.

Also it will add new security feature for every term of the president.

Dont know how BSP will do it a multi color parrot red,yellow,green,blue.

http://en.wikipedia.org/wiki/Blue-naped_Parrot

http://www.avianweb.com/bluenapedparrots.html

http://www.abs-cbnnews.com/nation/12/23/10/designer-defends-errors-bank-notes

If the BSP can combine those color on the size of that parrot its hard to countefiet the note it will be a security feature,maybe a breaktrhough if someone didnt do it yet in a banknote,just a comment.

It is good to have a model of widlife represented in notes to copy,its easy to have a model a eagle a rare endangered bird in the philippines,dont know about other wildlife the problem is if the model animal died.

http://lifestyle.inquirer.net/sundaylifestyle/sundaylifestyle/view/20101219-309748/Coming-up-the-redesigned-Philippine-currency

Good design,All the best.

http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20101223-310518/Error-filled-new-peso-bills-are-blind-friendly

images of past Presedent and heroes differ other countries choose picture in younger years some when they old to make it realistic,maybe they can choose picture in a particular momentous event that will be a commemeration.


There can bea lot of themes in banknotes and coins.

They can have a new design every year or special issues just like all those coin before the centennial celebration.

Lost games of filipino.

Holen,taguan and others.

Or history of every city per province.

Or kind of work what filipino do at home and abroad.

Or like abe the good manner and tradition of filipino.

Dont know the history of mano.

Dont know what is like to vow to a foriegner.

Just a comment.



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Newbie



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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Wed Jan 12, 2011 9:24 pm

Napapangitan ako sa mga bagong pera ngayon. Saka tingin ko ay mas magastos gawin ang mga bagong pera ngayon kumpara sa luma??? Dapat siguro ay gawing coins na lang ang bente at sikwenta pesos para matipid.

Bakit kaya hindi mag-overprint ng marami ang bsp para maraming mangolekta ng paper money??? Dami kasi akong nakikitang overprint na gawa ng mga pribadong tao at pinagkakakitaan pa nila yon....bakit hindi gawin din ng BSP???
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DIC

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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Thu Jan 13, 2011 1:18 am

Newbie wrote:

Bakit kaya hindi mag-overprint ng marami ang bsp para maraming mangolekta ng paper money???n din ng BSP???

Because too much money circulating would increase inflation. Smile BSP as much as possible tries to keep the inflation at 3-4% by managing the supply of money.
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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Thu Jan 13, 2011 4:37 am

Hey Dic, Your lucky mate, in Australia the Reserve Bank doesn't keep the inflation at 3-4% by managing the supply of money. it does it by raising or lowering the interest rates on loans. If you have a large house loan you break into a cold sweat every time the Reserve Bank board has it's monthly meeting. I might add the RBA is NOT controled by the government. To prove it's independence it has even put rates up during an election campaign, which "pissed off" the government heaps. It "pissed off" the people even more...The government got voted out!
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DIC

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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Thu Jan 13, 2011 11:35 am

pinoynotes1 wrote:
Hey Dic, Your lucky mate, in Australia the Reserve Bank doesn't keep the inflation at 3-4% by managing the supply of money. it does it by raising or lowering the interest rates on loans. If you have a large house loan you break into a cold sweat every time the Reserve Bank board has it's monthly meeting. I might add the RBA is NOT controled by the government. To prove it's independence it has even put rates up during an election campaign, which "pissed off" the government heaps. It "pissed off" the people even more...The government got voted out!

Adjusting interest rates is also one of the many things that it does to manage inflation. but it can only do so much. It is still very much highly affected by regional and global forces. But i guess unlike in australia, the BSP is under the department of finance if i remember correctly so it is controlled by the government.

BTW, glad to see you're alright. I've seen images and clips of the floods up north. The look absolutely devastating.
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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Wed Jan 19, 2011 11:11 am

The new notes in my opinion are too bright and looks like toy money rather than real money. I think the Government's intention behind the redesign note is not to improve security and for the benefit of the people but to ease up debt because it is demonetization. Like in other countries around the world, they are also changing the design of their money to balance their debt.
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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Wed Jan 19, 2011 4:23 pm

For me, the notes are unappealing and lacks authority. Unlike that of classical design notes which shows strength and stability. But as long as the peso does not become a WEIMAR currency, that is ok with me. I mean, look at the German Weimar issued notes. They are very attractive, the designs are very appealing, the colors are just right, and the sizes are magnanimous, and they were issued in every denomination that you could imagine. But the point is---- they are WORTHLESS. Money should serve its purpose.
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Kalookan

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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Sat Jan 22, 2011 9:42 am

I respectfully disagree with Kanor and our moderator. Sure GMA and the rest of the media can attract viewers by finding fault. After all, their popularity depends on creating controversy and improving their ratings. Just look at the magic TV has done for the reputation of a former Vice President!

Many of the complainers among the public will find fault just because the notes are new - nothing else. They will make their arguments, but in truth they complain largely because they are stubborn and resistant to change.

Instead, look at the notes numismatically. They are distinctively Filipino. The portraits were refined. Again, some will disagree, but an honest attempt was made to render more lifelike portraits. Gloria now sits inconspicuously in a corner. The security devices were upgraded to current technology.

Demonetization? I hardly think so. Old notes are exchangable at par over a period that exceeds the useful life of most of the notes, with the possible exception of the 1000 pisos. If you wait, you lose. Otherwise you have lots of time to redeem the old notes. In my case, I will keep them in my collection.

In the bigger picture, notes retain their value better when inflation is low. That is one thing that WON'T change...

Kalookan
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kanor



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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Sat Jan 22, 2011 11:27 am

Kalookan wrote:


Demonetization? I hardly think so. Old notes are exchangable at par over a period that exceeds the useful life of most of the notes, with the possible exception of the 1000 pisos. If you wait, you lose. Otherwise you have lots of time to redeem the old notes. In my case, I will keep them in my collection.

In the bigger picture, notes retain their value better when inflation is low. That is one thing that WON'T change...

Kalookan

My apology for disagreeing with your opinion but that is the sad fact. What is happening in our currency is demonetization by design. Collectors may consider my statement as bold, frank, and direct but that is how Central Banks around the world is giving solution to the current global currency crisis. Banknotes are I.O.U.'s and you could read that explained in small letters printed in your notes. Once the currency had been demonetized, banks will not redeem nor even accept those notes. The change of design of notes is not exclusively happening in the Philippines only but in almost every part of the globe including the USD.

The term "redesign" in banker's jargon means "demonetize", which explains why the USD has never changed its design since the US government abolished the gold and silver standard when the FEDERAL RESERVE took over the US monetary system.

"Exchangeability of notes at par over a period" is subjective and is not always reliable. It depends on several factors like economy, population of collectors, reference available, publicity, etc. For us, a starnote 500-piso Aquino-Tetanco signed may be worth twice as much its value but in Zimbabwe, their 100 Trillion dollars can only be bought for $2 on ebay right now. That is how unreliable "collectors value" is.

Have you ever wondered why printing more money creates inlfation but minting coins does not?

Paper money does not actually retain its value, what appreacites why old notes, rare notes, and error notes appreciate in value is because there are collectors who are willing to pay for it, and there are reference catalogs that guides us to buy it at that price. Thank you.
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PostSubject: A Revealing Interview   Sun Jan 23, 2011 9:39 am

From The Manila Times, today:

BG Hernandez and the new generation Philippine banknotes
BY KARLA ANGELICA G. PASTORES EDITORIAL CONSULTANT

IT was a momentous occasion in Philippine history when the Bangko Sentral ng Pilipinas (BSP) launched the “New Generation” series of Philippine bank notes in December 2010. It had been more than 25 years since the BSP launched a new series of legal tender. The process of redesigning the notes began three years ago. As technology was becoming more and more advanced, the security features on the existing bank notes were becoming outdated. Skilled swindlers found it much easier to produce counterfeit money with the outdated security features.

A bidding was held and two local design agencies were tapped to redesign the new money: Studio 5 Designs, led by President and Chief Executive Officer Marily Orosa, and Design Systemat, led by President Peachy Buñag. They were both brought in to come up with six new designs for the six banknotes.

Both design agencies have carved names for themselves in the creative industry. Studio 5 is known recently for their coffee table books that have won a number of awards. Orosa’s son BG Hernandez, Studio 5’s vice president for Creatives, designed three of the six banknotes: the P20, P50, and P1,000 bills.

A management graduate of De La Salle University, Hernandez has been with Studio 5 since it was started over 30 years ago by his mother. They have churned out more than 25 coffee table books, including a Philippine Centennial series from 1996 to 1998.

In this feature for The Sunday Times Magazine, Hernandez talks about his experience working with BSP to produce the new bank notes, which is generating a loud buzz among Filipinos both on the streets and in cyberspace.

How were you chosen by the Bangko Sentral to create the new banknotes?
There were several agencies (in the bidding), but the nice thing about it was that they tapped local design agencies for it. Normally, when a banknote is designed it is usually handled by bank designers or bank printers, usually multinationals abroad, big companies who already specialize in “money printing”. (But BSP) decided that it would be nice to have a twist, to have a local agency do it. We did the banknotes for more than a year. It went through a lot of stages; it went through a lot of brainstorming, throwing of ideas, presentation upon presentation, revision upon revision.

Was the general concept for the design formulated by the entire team?
It’s like this, Bangko Sentral already had a theme; they already had something in mind. It was just up to us to visualize it, and, of course, add our own interpretation of it. For example, there was an idea, a theme, to use our national artists. It would have been nice. There were also other themes that were passed around. But after Bangko Sentral did its research and testing, (they discovered that) the best theme—para naman din hindi magulat lahat (so that no one gets shocked) that it’s an entirely new bill with new faces—they decided to retain the colors and the Philippine presidents. But we added the historical events, very important events, around the note. Medyo matagal at madugong process (it was a long and meticulous process). We talked to several committees, from Bangko Sentral, a historical committee . . . so many. In fact, BSP did not only choose one designer, they chose two designers.
Everybody was involved in a long process; they liked parts of one designer and parts of the other, so they decided to merge them into one. It was more challenging and more exciting. We learned a lot of things from them.

What was your most favorite part of the design process?
When it was launched already. Because from there, it’s a different feeling. When we were designing for more than a year, you get used to it. But once it’s already printed and they show the actual bill to you, it’s a different feeling na parang tanggal ang pagod mo (all the stress is gone). My other favorite part would be the research. There are so many nice things here in the Philippines. There are so many things we can be proud of. And once you understand each element in the bank note, it’s like, wow! It’s so easy to take our money for granted. You see it everyday, you see the face, for example, of Rizal every day.
(And you think), bakit siya nilagay sa piso (why was he put on the P1 coin)? Isn’t he the national hero?
But the BSP decided that Rizal should be on the P1 coin because it’s more accessible to people. If he’s on the P1,000 bill, it’s not accessible to all of us. It’s better to put him on the most accessible (denomination). Even other countries do that as well.

Are there also plans to change the design of the coins?
We’re actually in the process of changing them, redesigning them also. We’re in the research stages now, because there are so many things to consider. The bills are nice—I wouldn’t say it’s easier—but they’re nice because they have color, security features, it’s paper. But the coins . . . you only need one element, so which one? Or who? Or what? That requires a bit more decision-making. And you’re only confined to a small space, so you have to consider every single detail.

What were the interesting comments you’ve received on the new design?
Recently, there were so many comments, especially in the newspapers and the Internet. But the best comment that I had was actually when I showed the money to my 6-year-old daughter. She told me,
“Oh Pa, you designed the money, can I have baon today? Can you just print it on the computer? I need a thousand pesos. And can you put my face there?” And I said, “I can’t do that!” And she said, “No, how come? I want my face there!”

Other comments were all very nice. The usual question that I get is “How do you feel about the comments that were thrown at you over cyberspace?” I just say, “Everybody is entitled to an opinion.”
On our part there were just so many processes and so many steps that were taken and considered and there were of course limitations to what we can do, design-wise and printing-wise. (I just want people to) know that it went through a very thorough, very long process. Most of the comments that came out (were from people who) haven’t seen the money yet. Most of them, they just see it on the Internet or the newspaper as a photo. It’s different when you see the money itself. In fact, I bumped into a blogger who really had so many comments about the bills. They were asking me, “How do you feel about the money? There’s so many comments, it’s so negative.” So I pulled out a P20 bill and handed it over to them. And in about two seconds, they were just, “Grabe ang ganda! [It’s so beautiful!]” and then I took it back, put it back in my wallet and said, “Thank you very much!” That’s it. It’s different when you feel the paper, there’s a sense of, like a responsibility to it, so many history about what goes into there. I’m glad that there are so many comments. People are interested. Some of them really wanna learn more.
Those are the good things that I see throughout this whole design (process).

The new bank notes also have what they call a “bioguard.” Money, when it’s passed around—through the jeepney drivers, the palengke, to the bank—pick up so many germs. But the bills now have this feature called the bioguard, which actually kills bacteria. We were joking, “Oh, you can clean your hands, just rub them on the money, malinis ka na.” They say it can last up to more than 10 years. Once your fingers get into contact with the money, it kills the germs.

Do you have a favorite designer or a role model?
For design, I’m more of a researcher-type of person. I like searching for things. I found out that my “role model” is the culture and all the Filipinos. It’s so rich. I like Juan Luna, I like Amorsolo, but I also like the new guys like Raul Isidro. There are so many artists around, that in their own right, in their own perspectives, in their own beliefs, really have a huge contribution to design. I wouldn’t say really that there’s one person (I look up to), but it’s actually everybody. It’s nice to just be a designer. Of course there are Western influences and those from Europe, but Filipinos really are so gifted. We’re so makulay (colorful). From there I guess for me it’s really an inspiration just to look at the whole country.

How’s your family? How have they shown their support for you?
I have two children, a 14-year-old son and my daughter who just turned seven. The eldest is into music, he plays the piano and guitar. My daughter also plays the piano. And she’s very interested in art. In fact she wants to be a designer and work here in Studio 5. (Their support for me) . . . How do I put this? All of a sudden, I’m in their Facebook. I’m cool pala! My son was an instant celebrity for a few weeks. He told all his friends that we were part of the team. My wife is just . . . she can’t get over it. Iba eh, iba ang art (Art is different). It’s one thing to design something. I’ve designed so many things already, but to actually be part of something important, very historical, kumbaga for the books, there’s no amount of money, there’s nothing that can compare to the satisfaction of being able to be a part of it.

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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Sun Jan 23, 2011 12:41 pm

"Studio 5 is known recently for their coffee table books" .....Is it just me thinking they should of stuck with coffee table books, and left the banknote design to people who know what they're doing?
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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Thu Jan 27, 2011 7:43 pm

Others can write a book from it from the start from the request to the congress to the distribution,just a comment.

All notes today are legal tender a note or paper signed by the authority to back the banknote by the goverment,most of the comment are true about IOU.

If the BSP will have its machinery it is better much better than spain put a mint in the Philippine much better than the prespanic mint there currency on that time.

It is much better to reduced the banknote to 100 peso and Philippine mint silver coin,to reverse what happen on decimalization,Philippine are among the few countries who are using silver coin on that time.

Banknote is just like IOU back by the goverment that I own someone with 1000 pesos of low metal coin.that the sweat on the face coming from filipino is manifested and represented in low metal that the highest amount is in banknote of IOU.

The design of the banknote is a start,Carefull lang baka mabulaga bumalik ulit sa silver coin and mundo sangdamukmok pag naiwan tayo,just a comment.
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PostSubject: Re: Your Thoughts on the New Banknote Designs?   Sat Jun 25, 2011 10:24 am

pinoynotes1 wrote:
"Studio 5 is known recently for their coffee table books" .....Is it just me thinking they should of stuck with coffee table books, and left the banknote design to people who know what they're doing?

That's pretty harsh, man. I agree the new baknote designs aren't perfect, but the guys who made them didn't just download pics from the internet and spend 30 minutes photoshopping faces of national icons and tourist spots. A lot of research and hard work was actually put into it.

I tried designing my own banknote when I was like 10 and it totally looked like, well, something a ten-year old would have drawn (it had a dog's face in front and the definition of the word "money" at the back), but the pride I had after I finished it (and had it laminated) was priceless.

What I'm trying to say is, try to cut the guys who designed the new banknotes some slack. It's not like they just winged it without careful planning and research. They at least deserve that much. Peace!
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