A group allegedly composed of Camp Crame police officers and a Metro Manila
Mayor is reportedly raking in millions of pesos by hoarding P1 coins and shipping them to China for conversion into amusement game tokens in casinos and night spots.

Hmnn… here we go again. Disrespectful filipinos of our country. They are not ashamed of what they’re doing. According to the news, they’re giving php 300 for every php 1,000 worth of 1 peso coins they are buying. We don’t have enough law to punish these kind of people for doing such things, if they are caught, the coins are just confiscated. That’s it. The Rules and Regulations on the Reproduction and/or Use of Legal Tender should be revised as soon as possible to stop these people and face the consequences of their violation.

Our “piso” or 1 peso coin is made of Cupro-Nickel composed of 75% copper & 25% nickel. If you compare it a to a regular token, it is slight heavier. As a filipino, the issue made me sad, it made me ashamed that I have “kababayan” like them. How come these disrespectful people get away just because we don’t have enough law to protect our monetary system. I doubt that they haven’t taught enough or understand their finance subjact in college. Aren’t they ashamed of Jose Rizal, our national hero who happens to be embossed on our 1 peso coin?

As far as I know, if this is true, China is known for low cost production and our country have existing agreement with them. There are many websites I’ve seen that offers custom made tokens production. It just so happen that I know that there are also local manufacturers here of tokens for video games and videoke machine.

On the contrary, is this for real or just want ZTE Broadband deal witness Jun Lozada issue be forgotten just like the other corruption issues?

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