Ang Piso Bow!
There is a certain shortage of peso coins. At least it’s happening in our store. The recent selling schemes of the nickel peso coin cannot but put some hunch that these sellers can be operating in our province. When told that peso coins were already all taken out from the jueteng collectors, Sunday collections were also no more, that day when at least 2 to 3 store owners came to me looking for peso coins, one would not feel different with their sentiments of who will provide us peso coins. Sari-sari stores aren’t bank connected unlike for example big grocery stores that get freshly made coins of all denominations.
There is also at this time, by all reasons, a coincidence of prices marked up PhP6, 16, 21, 26… not to mention that a two PhP8 purchase sums at PhP16 too, that in each individual transactions, four peso coins will have to leave the already drought cash purse. While one cannot tell if the peso coins are mostly inside a piggy bank or just by sheer unconcern buyers just don’t always bring with them peso coins, that asking them for a peso helps to lengthen the peso coin stay but is incapable of stopping the peso to all leave the store. There is no substitute, sari-sari store would have to haggle if they have one peso, if none, then they would not be given that purchase, for example one peso iced water, plastic, fortune stick, etc.
Will it be more helpful if Central Bank will make different smaller peso coins to stop the selling of it and increase rather its quantity to move the market smoothly?
I don’t have to mention the complaining tricycle drivers who always have collectibles from passengers because they don’t have peso coins for a change. They always buy one champion cigarette or an iced water to get a four peso change, which complaining store operators cannot help anymore.
Gone are those days when the cash box are filled to the brim with peso coins, disappearing only during Christmas season and “Undas” but coming back after the celebration.
If this article is too early for a real shortage of peso coins then let me know if I’m the only one experiencing this phenomena. I will not let the day when I’ll have to give goods for a change of PhP4 before I speak of something suspect.
On the other hand five peso coins are a bulk at the storage mixed with so much counterfeits made by the Korean national. Manufacturers are tired of downsizing their products to put it in the range of PhP5 products. And other elements of the phenomena are out of my radar to tell here.
There is also at this time, by all reasons, a coincidence of prices marked up PhP6, 16, 21, 26… not to mention that a two PhP8 purchase sums at PhP16 too, that in each individual transactions, four peso coins will have to leave the already drought cash purse. While one cannot tell if the peso coins are mostly inside a piggy bank or just by sheer unconcern buyers just don’t always bring with them peso coins, that asking them for a peso helps to lengthen the peso coin stay but is incapable of stopping the peso to all leave the store. There is no substitute, sari-sari store would have to haggle if they have one peso, if none, then they would not be given that purchase, for example one peso iced water, plastic, fortune stick, etc.
Will it be more helpful if Central Bank will make different smaller peso coins to stop the selling of it and increase rather its quantity to move the market smoothly?
I don’t have to mention the complaining tricycle drivers who always have collectibles from passengers because they don’t have peso coins for a change. They always buy one champion cigarette or an iced water to get a four peso change, which complaining store operators cannot help anymore.
Gone are those days when the cash box are filled to the brim with peso coins, disappearing only during Christmas season and “Undas” but coming back after the celebration.
If this article is too early for a real shortage of peso coins then let me know if I’m the only one experiencing this phenomena. I will not let the day when I’ll have to give goods for a change of PhP4 before I speak of something suspect.
On the other hand five peso coins are a bulk at the storage mixed with so much counterfeits made by the Korean national. Manufacturers are tired of downsizing their products to put it in the range of PhP5 products. And other elements of the phenomena are out of my radar to tell here.
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