Philippine Gold Coins

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)...

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

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 ..

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.

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..

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...

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.
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).

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.

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

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

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.

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.

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

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.

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

^
^
^


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.

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.

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!

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.

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

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

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

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)