PHP 20 Peso downgraded to coin. The cost of creating the paper money is more expensive than its value.
Posted via D.Buzz
PHP 20 Peso downgraded to coin. The cost of creating the paper money is more expensive than its value.
Posted via D.Buzz
I thought paper money is cheaper to make than the coins...
Posted via D.Buzz
About a decade ago, The Central Bank of the Philippines changed the metals used in producing the coins, because some people melted the coins and extracted metal that is more expensive than the value displayed on the coins. 🕵️♂️ Philippine coins used to be magnetic. 🤔
That's a troll move. But a logical troll move the government should've seen coming...
I think it's the other way around. The metal coin is easier to make and it is not easily damaged. Making Paper money is more complex as it requires serial, security features, and strengthening material. Just my thought =).
Posted via D.Buzz
Yeah, didn't think about the security features... I also think it varies by country. Tell me if you find an evidence of either is them being the more expensive.
Posted via D.Buzz
Yes, it will vary in different countries for sure. In the old days, our coins are made of silver which is more expensive now our coins are mere ordinary metal that sticks with the magnet. There were times when they use aluminum on the lower denomination.
Posted via D.Buzz
Congratulations @jwynqc! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
Your next target is to reach 50 posts.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
On Christmas day (assuming you celebrate it), your young relatives (especially godchildren) will be disappointed if you give them ₱20 (or even ₱40) each, because the ₱20 bills before are now ₱20 coins. 😆 That is regardless of whether you will give them physical money, or digital money through GCash, PayMaya, Coins, or GrabPay. 😅