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 Philippine Gold Coins

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al.plata

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PostSubject: Philippine Gold Coins   Sat Aug 06, 2011 12:14 pm

for all new collectors.. there are several gold issues of Spanish- Philippine coins, some with the word "FILIPINAS" readable, some with "MANILA" or its abbreviation or just the letter M and some with just the STAR mark or ASTERISK mark for the Manila Mint during the Spanish era.. Marcos issued a lot Philippine Gold coins.. I encountered a lot of these in the past coin auctions here, mostly high priced and I just look to see it for a moment and wish I can have one of those someday.. just try to attend all coin auctions (August 20, 21, 28), see you there i hope (i want to be there, even just to see the items)...
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Market! Market!



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PostSubject: Re: Philippine Gold Coins   Wed Aug 10, 2011 4:30 pm

Bank Sentral ng Pilipinas is now offering gold coins.
http://www.bsp.gov.ph/bspnotes/banknotes_comsale.asp?Start=10&Offset=10#

1980 Series 1500 Piso Proof Pope John Paul II Commemorative and Legal Tender Gold Coin
Price: Php 25,000


I went there earlier but they said it can only be bought at the Manila branch. (Roxas boulevard)
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Market! Market!



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PostSubject: Re: Philippine Gold Coins   Wed Aug 10, 2011 4:31 pm

I got an inside information that they used to sell this at 10k, then 22k, now 25k hahaha.
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al.plata

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PostSubject: philippine gold coins   Wed Aug 10, 2011 11:03 pm

that gold coin offering from BSP is a good investment.. if you can afford, you should buy it.. i should have not spent too much for my birthday last week.. the family trip to Singapore was really something, i feel so poor today.. probably i can afford to buy it on;y next year or if my claims from the government get paid ..
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ericgo

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PostSubject: Re: Philippine Gold Coins   Thu Aug 11, 2011 11:22 am

al, that depends i think. i personally will only be buying 1 pc of that gold coin for collection purposes.

though i believe that gold will eventually be higher 4 or 5 years from now, i still believe there will be a pullback in the short term which should make buying gold a bit cheaper when that pullback arrives.
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al.plata

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PostSubject: philippine gold coins   Thu Aug 11, 2011 12:31 pm

gold will continue to rise because of uncertainties in this world.. there are always war or calamities that affect the world market and then people are afraid so they turn to gold, people get their money out of their banks and buy gold, some even sell all assets and invest in gold.. the prices will soon settle down until the next problem crops up.. and the cycle will repeat..
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PostSubject: Re: Philippine Gold Coins   Thu Aug 11, 2011 5:47 pm

i personally know some people who pulled out their stocks to purchase gold..
some convert their dollar investments to gold..
the crisis in U.S is causing the rise in Gold, ive visited another forum based in the US where they were discussing about the running out of pure silver and gold in dealer shops...
a lot are afraid that the value of dollar will continue to depreciate...
in my opinion, its safer to invest in metals now than to put your dollars in the bank...
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Market! Market!



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PostSubject: Re: Philippine Gold Coins   Wed Aug 17, 2011 1:34 pm

Market! Market! wrote:
Bantayan wrote:
here is a picture of it

http://cgi.ebay.ph/1980-Philippine-Pope-John-Paul-II-1500P-GOLD-UNLISTED-/360386344450?pt=LH_DefaultDomain_0&hash=item53e8b33602

Did somebody know now where the bank ist where they sell it. I guess i will buy one

Very nice story Very Happy


1500 Piso 1980 Pope John Paul II Visit in the Philippines.
Reverse: San Lorenzon Ruiz, UNLISTED. PROOF Gold

Weight: 9.5 grams / 0.2879 oz , Composition: 0.900 Gold.

In 1980 Pope Paul II was supposed to visit the Philippines for the beatification of Lorenzo Ruiz so Central Bank of the Philippines decided to issue these 1980 gold coins. Due to security reasons the Pope’s visit was rescheduled on February 17, 1981. The Central bank recalled all the 1980 gold coins and changed the date to 1981. Only a few collectors and top officers the Central Bank got hold of these 1980 gold coins.




* The bank where you can buy this is located at A. Mabini (Bangko Sentral ng Pilipinas).
* You can see it in Google maps

A.Mabini, Manila 1004, Philippines


http://maps.google.ca/maps?hl=en&biw=1280&bih=814&noj=1&q=bangko%20sentral%20ng%20pilipinas%20map&gs_sm=e&gs_upl=4726l5509l0l5744l4l4l0l0l0l0l332l758l2-2.1l3l0&um=1&ie=UTF-8&sa=N&tab=wl



EDIT: I haven't bought one yet, I plan to next month or this October. The one who informed me that I can buy it at A. Mabini branch was the teller at the Cash Department (East Avenue branch).
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Market! Market!



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PostSubject: Re: Philippine Gold Coins   Wed Aug 17, 2011 1:41 pm

Market! Market! wrote:
Bank Sentral ng Pilipinas is now offering gold coins.
http://www.bsp.gov.ph/bspnotes/banknotes_comsale.asp?Start=10&Offset=10#

1980 Series 1500 Piso Proof Pope John Paul II Commemorative and Legal Tender Gold Coin
Price: Php 25,000


I went there earlier but they said it can only be bought at the Manila branch. (Roxas boulevard)

I just bought one today. Very Happy
I'll post the pic once my cousin is here (he has a camera).

Note:
1) There is no special container, just plastic (sealed).
2) There is no certificate of authenticity (I guess my proof is just the receipt from BSP).
3) It is almost the size of our current 5 peso coin (lighter but bigger).
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Market! Market!



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PostSubject: Re: Philippine Gold Coins   Wed Aug 17, 2011 3:32 pm

Here are the pics:











Need advice:
> I plan to remove it from its plastic case and transfer it to a 2x2 cardboard case (like the 5 peso pic). Should I do this? The advantage is I will be able to put it in my album and see it clearly. The plastic case is a little blurry.
> The problem is I don't know if there are disadvantages.
> Appreciate any input from anyone.
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tracy1947

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PostSubject: Re: Philippine Gold Coins   Wed Aug 17, 2011 7:34 pm

1975 marcos 1,000 peso gold went below face value and few collectors bought them for face value. now it should worth a lot.
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Ghiem

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PostSubject: Re: Philippine Gold Coins   Thu Aug 18, 2011 8:41 am

my friends and I just bought a total of 14 pieces ....
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PostSubject: Re: Philippine Gold Coins   Thu Aug 18, 2011 9:55 pm

Ghiem wrote:
my friends and I just bought a total of 14 pieces ....


Hello,
The plastic container of your gold coins, are they PVC? They feel the same as my PVC album.
Do you know if PVC affects gold coins? I know they damage silver coins.
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borg



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PostSubject: Re: Philippine Gold Coins   Sun Aug 21, 2011 7:58 am

Market! Market! wrote:
Here are the pics:











Need advice:
> I plan to remove it from its plastic case and transfer it to a 2x2 cardboard case (like the 5 peso pic). Should I do this? The advantage is I will be able to put it in my album and see it clearly. The plastic case is a little blurry.
> The problem is I don't know if there are disadvantages.
> Appreciate any input from anyone.

Meron pa po ba nito sa BSP? Salamat.
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ericgo

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PostSubject: Re: Philippine Gold Coins   Sun Aug 21, 2011 9:35 am

yes there are still some available but they are limiting the purchases to 1 per person i think
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PostSubject: Re: Philippine Gold Coins   Sun Aug 21, 2011 1:54 pm

ericgo wrote:
yes there are still some available but they are limiting the purchases to 1 per person i think

nope, I believe you can buy more than 1, the cashier asked me how many I plan to buy so I guess it is allowed.
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ericgo

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PostSubject: Re: Philippine Gold Coins   Sun Aug 21, 2011 2:02 pm

i tried to buy 2 but they gave me a hard time and was asking quite a bit of questions.
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PostSubject: Re: Philippine Gold Coins   Sun Aug 21, 2011 2:46 pm

^
^
^


Will it be alright if you provide the questions they asked?
They just ask me if I will put the coin under my name and how many I will buy.
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ericgo

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PostSubject: Re: Philippine Gold Coins   Sun Aug 21, 2011 4:25 pm

well, they said why i wanted 2 pcs. and what i wanted to do with them. i told them that i was going to keep one piece and the other one was for someone else but the teller didn't believe me and had to ask her supervisor.
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PostSubject: suspicious minds...   Sun Aug 21, 2011 4:38 pm

Just a hunch, they might be pretty careful these days due to the... anti money laundering law. Gold is a good way to launder money. Just my 2cent!
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PostSubject: Re: Philippine Gold Coins   Sun Aug 21, 2011 9:35 pm

edbsbc78 wrote:
Just a hunch, they might be pretty careful these days due to the... anti money laundering law. Gold is a good way to launder money. Just my 2cent!

hmm pero laundering di ba needs cash? or at least digital currency like in bank accounts? how can it become laundering if you will encash gold in a different country while the cash you paid for the medium here is now in the possession of the central bank itself?

it's just like buying an item here (an iphone) and resell it at singapore. considering that we do not recognize gold anymore as legal tender even with the 1500 PHP mark on it.



maybe it's because they don't want speculators sa gold. if you take out all of their gold for consumers, you will cause gold price to rise faster as word of BSP tapping out of gold coins for the public will get around fast.
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PostSubject: Re: Philippine Gold Coins   Mon Aug 22, 2011 6:53 am

apart from money laundering or speculation, i believe the reasons for strictness MAY BE:

1.) foreign hoarders / smugglers, just like the "lost" nickel coins, maybe they're just cautious of foreigners getting hold of local precious metals and taking it out of the country

2.) BIR / TAX bureau, just like any large purchases like a car or a house, it may not be a far stretch to get an audit notice from the BIR, especially if the incomes declared do not coincide with the capacity to purchase a single coin for Php25,000
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edbsbc78



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PostSubject: Re: Philippine Gold Coins   Mon Aug 22, 2011 3:57 pm

HI Richard and Boy_genius,

Good points, well taken.

With regard the coin, is it still available? might have spare peso to buy the gold coin in a couple of weeks.

regards
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PostSubject: Re: Philippine Gold Coins   Mon Aug 22, 2011 6:10 pm

I believe it is still very much available.
http://www.bsp.gov.ph/bspnotes/banknotes_comsale.asp?Start=10&Offset=10

Only few people are interested in buying coins like this anyway.
If you want you can give them a call and ask to be connected to the cash department:

Bangko Sentral ng Pilipinas
A. Mabini St. cor. P. Ocampo St.,
Malate Manila, Philippines 1004
Tel. No. : (632) 708.77.01
E-mail: bspmail@bsp.gov.ph
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PostSubject: Re: Philippine Gold Coins   Mon Aug 22, 2011 6:12 pm

ericgo wrote:
i tried to buy 2 but they gave me a hard time and was asking quite a bit of questions.

Just a question, did they write any number on your receipt?
(upper right)
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