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 Commemorative coins

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alexmacesar



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PostSubject: Commemorative coins   Sat Aug 08, 2009 2:02 am

Just wondering, why were there no new commemorative coins issued for the past 9 years? I think the last commemorative coins issued were the P5000 and P500 peso central bank 50th anniversary coins. That is, if you do not consider the year 2000 P10 circulating coins as commemorative, too.
Regarding the current P10 coins, the "old" coins (2000-2006) are yellow/dark yellow in color. But a few "new" coins dated 2006 have a different shade of color - sort of yellow orange in color. Did the central bank mint plant changed the metallic composition?

Alex
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embosed



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PostSubject: Re: Commemorative coins   Sat Aug 08, 2009 2:57 am

Because there were less demand on Philippine commemorative coins. Despite its low mintage for our coins, foreign buyers didn't care much about it because its not very popular. Central bank is heavily relying on customers to dispose their newly issued commems. Maybe they realized that only very few were been sold and mostly stuck at their vault for years they are not keen on issuing them again. There are some exceptions though. The 1995 pope Paul visit commemorative are a hot buy.
Our national hero commemorative series issued from 1961 to 1969 are in high mintage of 100,000 pieces but the demand is low and the selling price by most of the US dealers here are only about $10.00 each which I had bought 6 pieces of them just yesterday. They are even below their melt value! I remember visiting here in US last 1989 when I was in high school and I stop over to a local coin shop. I spotted one Rizal 1961 peso selling for only $9.00 a piece. Twenty years later the price is just up by a mere dollar. See?
About the metallic content of our current 10 peso coins, I do believe strongly that the central bank changed the metallic composition frequently. Take note that our 2004 piso coins has a different alloy than the rest of the date. It contained a little amount of steel I think because I see one of the worn pieces in my pocket changed got a rust on both fields. Same thing with our previous Fauna and Flora coin series before. The metallic alloy changes frequently and inconsistently without notice.
EWY
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abe



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PostSubject: ---   Sun Aug 09, 2009 12:27 am

the success of new commemorative coin will depend upon its significance, historically, and its beauty.
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abe



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PostSubject: ---   Sun Aug 09, 2009 12:32 am

but in case that the BSP will issue another one, as a Filipino nusmismatic it, is our duty to help them....
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alexmacesar



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PostSubject: Re: Commemorative coins   Mon Aug 10, 2009 1:35 am

Thank you for the information regarding the minting of commemorative coins. So, does it mean that "profit" is one of the main consideration in minting of the com. coins? But I think during the time of Marcos, there were a lot of commemorative coins issued, although in limited quantities only. Maybe, it also depends on the president of the Philippines.
I also bought a 1988 P10 people power revolution coin at its face value last year (2008) so this confirms your theory that they have some leftover stock and the price is also low. Imagine that after 20 years, the coin had the same market value!

Alex
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DIC



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PostSubject: Re: Commemorative coins   Mon Aug 10, 2009 2:03 am

alexmacesar wrote:
Thank you for the information regarding the minting of commemorative coins. So, does it mean that "profit" is one of the main consideration in minting of the com. coins? But I think during the time of Marcos, there were a lot of commemorative coins issued, although in limited quantities only. Maybe, it also depends on the president of the Philippines.
I also bought a 1988 P10 people power revolution coin at its face value last year (2008) so this confirms your theory that they have some leftover stock and the price is also low. Imagine that after 20 years, the coin had the same market value!

Alex

Profit is not a consideration in fact it's the opposite, cost. They usually sell the coins based from the cost of producing it overhead costs etc. If there is profit it is very minimal. So it becomes a problem when some commemoratives aren't being bought and takes years before the stock is depleted so there is additional cost in storing them plus the price isn't adjusted based on inflation. The 94 leyte series back in '94 is still being sold at the same price so it shows that they just want to recover the cost of producing such commemoratives.
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abe



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PostSubject: yes....   Mon Aug 10, 2009 11:26 pm

the 1988 P10 is a low kind of a commemorative coin..
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embosed



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PostSubject: Re: Commemorative coins   Tue Aug 11, 2009 2:56 am

For me, profit is the number one concerned of the central bank and to the rest of the world mints. The government issued commemorative or proof coins to encourage collectors to acquire and to admire them. Yes, that's true. But they also have to raise funds to help the income of the government.
In the case of the United States mint, The mint officials realized that more and more people collect coins every year, they designed a lot of commemorative coins in a single year. They had state quarter program, presidential dollars, regular annual commems, silver, gold and platinum bullion coins and so forth. See? The mint selling price aren't cheap either. If you want to find out the price, go to www.usmint.gov to find out the prices.
In the case of P10 people commemoratice coins, who said that the mint does only "minimal profit"???? When that coins first released in 1987, the central bank is selling them for P25.00. It is P15.00 higher than its face value. The coin is not even a silver but a magnetic type of nickel. I made another purchase in 1991 and the price was lower down to P15.00 because there was no demand. Then on 2005 the central bank tried to just sell them for just face value because the demand became lesser and lesser each year.
There was lesser in demand for Philippine coins currently. That is why the government have no guts in issuing them to the public.
EWY
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alexmacesar



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PostSubject: Re: Commemorative coins   Thu Aug 13, 2009 1:26 pm

The commemorative coins of the Philippines (I believe) started during the American Occupation, the 1936 one peso and 50 centavo coins that celebrated the start of the Philippine commonwealth so I think the Americans were the one who started it all. There were a lot of commemorative coins during the Marcos years. Of course, his presidency lasted for 21 years (1965-1986). In fact, he was the one who revived the gold coins production - for commemoratives only.

One of the commemorative coins which I have not seen yet (in the internet) is the "1996 one peso Phil-American friendship day - 50th Anniversary". Does anybody have any picture / specifications of this particular commemorative coin?
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manilagalleontrade



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PostSubject: Re: Commemorative coins   Thu Aug 20, 2009 2:11 am

I have always enjoyed the low value commemoratives like the 1 peso or 2 pesos in circulation. These commemorative coins are very attractive to young collectors because of its availability and low cost. We need more young collectors to continue the numismatic hobby in the future.
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nic



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PostSubject: Re: Commemorative coins   Tue Aug 25, 2009 1:07 am

The artwork detail in our commemoratives specially the 50th BSP 500piso is remarkable, however I do miss the flora and fauna series, this might be more interesting to foreigners if done on a silver 38mm commemorative REV. I hope more interesting subjects like the Philippine eagle would be minted
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PostSubject: Re: Commemorative coins   Today at 10:13 pm

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