Influence of Generation Gap in Distinguishing Philippine Currency Coins

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.