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Republic of the Philippines 
SENATE OF THE PHILIPPINES 
Pasay City 
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FIFTEENTH CONGRESS 
Second Regular Session 
Senate Bill No, 31 71 
Introduced by Senator Manuel "Lito" M. Lapid 
EXPLANATORY NOTE 
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According to the Bangko Sentral ng Pilipinas (BSP), there are about 17.34 billion 
pieces of coins valued at P18.94 billion that had been issued as of September 30, 2011. If 
introduced in circulation, this would translate to 184 coin pieces per Filipino. That will 
be more than enough for everyone as compared to the Asian average of 100 coins per 
person. 
To enterprising crooks, this volume of coins in circulation is a goldmine. Recent 
valuation of the worth of the country's coinage suggests four of the coins are worth 
more than their face value if melted. Although the Bangko Sentral ng Pilipinas (BSP) 
denies the existence of an actual coin shortage, this activity along with the common 
practice of keeping coins in piggy banks, commercial undertakings such as the 
Automatic Tubig Machines which use coins for operation, video games machines and 
illegal numbers games, may threaten the sound circulation of coins in the country. 
Though the day may be far when we may legally accept being given candies for 
change instead of coins, such a problem may not be remote as indicated by reports in 
other jurisdictions. It is thus imperative that preventive measures be put in place, This 
bill seeks to address this predicament by defining the crime of coin hoarding and 
providing penalties for its commission. 


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Republic of the Philippines 
SENATE OF THE PHILIPPINES 
PasayCity 
FIFTEENTH CONGRESS 
Second Regular Session 
Senate Bill No. 31 '71 
Introduced by Senator Manuel "Lito" M. Lapid 
AN ACT DEFINING THE CRIME OF COIN HOARDING 
AND PROVIDING PENALTIES THEREFOR 
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Be it enacted by the Senate and the House of Representatives of the Philippines in Congress 
assembled: 
Section 1. Coin Hoarding. There shall be coin hoarding when a person or entity is in 
possession of coins of legal tender issued by the Bangko Sentral ng Pilipinas (BSP), 
beyond the requirements of his regular business as may be determined by the BSP. 
When required by existing BSP circulars on legal tender, business shall be transacted 
only with coins of Philippine currency and any transaction to the contrary shall be 
considered coin hoarding under this Act. 
Section 2. Coin Shortage. There is coin shortage when there is a deficiency in the supply 
of coins in Philippine currency as demanded by the prevailing condition of the 
monetary system. 
Section 3. Allowable accumulation of coins. Persons engaged in coin collecting, and 
those who save coins on piggy banks and other similar practices shall be allowed to 
accumulate coins, provided that they shall be required to surrender such coins within 
the period of one (1) month after a determination by the BSP that there exist a condition 
of coin shortage. Failure to make the surrender within the required period shall 
constitute coin hoarding. 
Section 4. Penalty. Any person guilty of coin hoarding shall be penalized with ONE (1) 
YEAR IMPRISONMENT and a fine of ONE HUNDRED THOUSAND PESOS 
(PlOO,OOO.OO) for everyone thousand pieces (1,000) of coins hoarded or a fraction 
thereof. 
Coins subject of the hoarding shall be forfeited in favor of the government.