ABSTRACT
The preliminary study assesses the design of new coins produced by the Bangko Sentral ng Pilipinas. Two sets of coins are currently in circulation: The Bangko Sentral ng Pilipinas and the New Generation Currency Coin (NGC) Series. The researchers conducted the study to address the public confusion on the NGC coins that are being released in the circulation. The major priority of this study is to identify the influence of generation gap in distinguishing the NGC coins. The researchers conducted a time study on respondents from different age groups while identifying the values of the currency. Based on the study, the respondents rely on their visual sense more than their other senses when recognizing the newly released coins. The researchers used Ishikawa diagram to determine the factors that causes the coin confusion. Analysis of Variance and Tukey's Comparison of Means were utilized to identify which generation from the Baby-boomers to Generation Z were able to recognize the currency immediately. The researchers recommended aids on helping user easily recognize the difference between the new generation coins.
The birth of the Philippine Peso isn't complex. Starting from the known history of the Philippine wherein our forefather learned how to exchange goods and the concept of trade started to be known. In early centuries, Filipinos started trading with our neighboring countries. They use gold, silver and any precious stones as coinage. This is a way for them to buy goods. After the barter system, the Spanish introduced "teston" a silver coin that served as the main currency in the Philippines. When the economy bloomed, other currencies such as the Alfonsino peso and Mexican peso circulated in the country, ultimately giving more meaning to money and its importance. After gaining its independence from Spain in 1898, the Philippines started producing its own currency in coin and paper.
The "sentimo" was introduced to differentiate coins from bills and to give more value to money when trading with locals and foreigners. The Philippines coin design keeps changing and adapting as time passed by. The colonization of different nation like Spaniards Americans and the Japanese resulted in different form of coins in size, color, shape and value in the country. The current coinage is far different from before.
- Acosta III, P. 2018. Change is coming: Do we really need new coins? https://cnnphilippines.com/life/culture/2018/3/29/new-philippine-coins.html.Google Scholar
- Ala, W.2018. BSP-Bicol urges public to familiarize with new coins. https://pia.gov.ph/news/articles/1010681.Google Scholar
- Bar-Hillel, M., Wagenaar, W. 1991. The perception of randomness, Available: https://www.sciencedirect.com/science/article/pii/019688589190029I, December 1991Google ScholarDigital Library
- Freivalds, Andris, and Niebel, Benjamin W. 2013. Niebel's Methods, Standards, Work Design. McGraw-Hill Higher Education.Google Scholar
- Gonzales, M. 2018.The Problem with the New 5-Peso Coin. https://www.moneymax.ph/personal-finance/articles/problem-new-5-peso-coin.Google Scholar
- Gulle, J. 2018. Nickel:New King of PH minerals. http://manilastandard.net/mobile/article/275213.Google Scholar
- Haslbeck and Zimmermann. 2015. HF auto Worshop, Eye-Tracking in Human Factors/ Ergonomics Research. https://www.researchgate.net/publication/306278778_Eye-Tracking_in_Human_Factors_Ergonomics_Research?fbclid=IwAR30HGSUxxeMbNJOG9iWatlJGJmr9mnl890y5BQ6N4aBa4DGethNDaiH3mI.Google Scholar
- Lopez, M. 2019. Confused? BSP to release ₱5 coins with a distinct look. https://www.cnn.ph/news/2019/10/14/BSP-new-5-peso-coin.html.Google Scholar
- Lucas, D. 2018. New coins to stop 'nickel extraction'. https://business.inquirer.net/248350/new-coins-stop-nickel-extraction.Google Scholar
- Malasig, J. 2018. Change has come: Filipinos debate two sides of new coins. https://www.philstar.com/nation/2018/03/29/1801258/change-has-come-filipinos-debate-two-sides-new-coins.Google Scholar
- Martin, M. 2018. Give coins a chance says bank, after lawmaker slams 'confusing' design. https://philippineslifestyle.com/give-confusing-coins-chance-says-bank.Google Scholar
- Ornedo, J. 2019. Quezon scion says P20 coin a sign of devalued currency, urges BSP to review plan. https://www.gmanetwork.com/news/money/economy/711702/quezon-scion-says-p20-coin-a-sign-of-devalued-currencyurges-bsp-to-review-plan/storGoogle Scholar
Index Terms
- Influence of Generation Gap in Distinguishing Philippine Currency Coins
Recommendations
Harvesting High Value Foreign Currency Transactions from EMV Contactless Credit Cards Without the PIN
CCS '14: Proceedings of the 2014 ACM SIGSAC Conference on Computer and Communications SecurityIn this paper we present an attack, which allows fraudulent transactions to be collected from EMV contactless credit and debit cards without the knowledge of the cardholder. The attack exploits a previously unreported vulnerability in EMV protocol, ...
Anonymous and Transferable Coins in Pay-Fair Ecommerce
In this paper, we propose an on-line e-coin system with four parties: Consumer, Merchant, Bank and Issuer. The proposed system not only circulates anonymous e-coins but also protects the profits of the Merchant and the Consumer during a transaction. An ...
Comments