A composite photo of Philippine coins turned into rings. BSP/INSTAGRAM

Five individuals have been arrested and are facing legal action for crafting and selling rings made from defaced P10 coins in the Philippines, following a crackdown by the Bangko Sentral ng Pilipinas (BSP). The group operated at Paliton Beach in San Juan, Siquijor, targeting tourists with their handcrafted jewelry. “We conducted test-buys and confirmed this illegal activity,” said Mark Fajardo, BSP senior investigator. The operation uncovered that the group members sold rings at P1,500 each and were making up to P50,000 daily by dismantling the coins’ aluminum bronze cores to create the rings. Authorities emphasized the act violated Presidential Decree 247, which prohibits defacement of currency. “Coins are government property and must be preserved,” BSP stated, highlighting the high cost of minting currency. A foreign tourist’s viral Instagram post drew attention to the practice. “I was lying on Paliton Beach when someone approached me with this unique art,” she shared in the now deleted video. The video’s popularity led police to investigate. The suspects face penalties for violating currency protection laws. They are currently detained in San Juan Municipal Police Station. ICA/CAM/Expat Media
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