One of the most serious threats to national security is the destruction of the integrity of our currency. This point was made on 9 June 1993, during the 9th Congressional Bicam-Committee hearing on the BSP’s Charter. In demonetizing the old banknotes series and issuing the new coins, the BSP complies with Section 57 of R.A. No. 7653.
It provides that the BSP may call for the replacement of banknotes which are more than five (5) years old and coins which are more than ten (10) years old. The NGC banknotes and coins have enhanced security features. For the coins, the latest minting technology to prevent counterfeiting is used.