Regulated Coin Blanks or Coins of Various Metals
- Document symbol
- G/LIC/N/3/PHL/17
- Original language
- English
- Published on
- 19/08/2025
Outline of Systems
Q1. Give a brief description of each licensing system as a whole and, with respect to each, reply to the following questions as relevant, placing all of the material with respect to a given system in sequence together, and using cross references as appropriate when elements which have already been described are also present in another system.
Prior written authorization from the BSP is required for the importation of the following commodities:
(a) Coin blank essentially of gold, steel, copper, nickel, zinc, tin, aluminium, brass, bronze, all with diameter of less than 30.00 mm and weight of less than 11.50 grams per piece; (b) Coin blank essentially of silver with diameter of 36.8 mm +/- 0.05 mm and weight of 28.28 grams per piece; and (c) Nordic Gold coin metal with diameter of 33.55 mm +/- 0.05 mm and weight of 15 grams per piece.
The BSP, through the Mint and Refinery Operations Department, will issue a prior written authorization, for approved application, which may be presented to the Bureau of Customs (BOC) officers handling the importation. However, if application is disapproved, a letter of regret will be issued.
Purposes and Coverage of Licensing
Q2. Identify each licensing system maintained and state what products, appropriately grouped, are covered.
The BSP prior written authorization requirement covers the importation of regulated coin blanks or coins of various metals.
Q3. The system applies to goods originating in and coming from which countries?
The requirement applies to importation of regulated coin blanks or coins of various metals, irrespective of country involved.
Q4. Is the licensing intended to restrict the quantity or value of imports, and if not, what are its purposes? Have alternative methods of accomplishing the purposes been considered and if so which? Why have they not been adopted?
The requirement is based on the existing BSP policy on regulated and prohibited commodities involving BSP. The requirement intends to prohibit illegal production of Philippine legal tender currency (i.e., counterfeiting).
Q5. Cite the law, regulation and/or administrative order under which the licensing is maintained. Is the licensing statutorily required? Does the legislation leave designation of products to be subjected to licensing to administrative discretion? Is it possible for the government (or the executive branch) to abolish the system without legislative approval?
Section 5.1 of the BSP Manual of Regulations on Foreign Exchange Transaction specifically provides that importation of regulated coin blanks or coins of various metals may be performed upon obtaining prior written authorization from the BSP.
Procedures
Q6. For products under restriction as to the quantity or value of imports (whether applicable globally or to a limited number of countries or whether established bilaterally or unilaterally):
Q6.I. Is information published, and where, concerning allocation of quotas and formalities of filing applications for licences? If not, how is it brought to the attention of possible importers? Of governments and export promotion bodies of exporting countries and their trade representatives? Is the overall amount published? The amount allocated to goods from each country? The maximum amount allocated to each importer? How to request any exceptions or derogations from the licensing requirement?
The Citizens Charter for Importation of Coin Blanks/Coins of Various Metals is posted at the BSP website, and may be downloaded at:
| Citizens Charter | https://www.bsp.gov.ph/CitizensCharter/bspcitizenscharter.pdf#page=559 |
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Other website link/official publication of the regulation/procedure may be viewed and downloaded at:
| Other website link | https://www.pntr.gov.ph/bsp-1/ https://www.pntr.gov.ph/other-1569/ https://www.pntr.gov.ph/silver-coin/ |
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Q6.II. How is the size of the quotas determined: on a yearly, six-monthly or quarterly basis? Are there cases where the size of quota is determined on a yearly basis but licences are issued for imports on a six-monthly or quarterly basis? In the latter case, is it necessary for importers to apply for fresh licence on a six-monthly or quarterly basis?
There is no limit on the application for issuance of prior written authorization to import regulated coin blanks/coins of various metals. More so, there is no restriction as to the number of importers who wish to apply for prior written authorization from the BSP.
Q6.III. Are licences allotted for certain goods partly or only to domestic producers of like goods? What steps are taken to ensure that licences allocated are actually used for imports? Are unused allocations added to quotas for a succeeding period? Are the names of importers to whom licences have been allocated made known to governments and export promotion bodies of exporting countries upon request? If not, for what reason? (Indicate products to which replies relate.)
There is no limit on the application for issuance of prior written authorization to import regulated coin blanks/coins of various metals. More so, there is no restriction as to the number of importers who wish to apply for prior written authorization from the BSP.
Q6.IV. From the time of announcing the opening of quotas, as indicated in I above, what is the period of time allowed for the submission of applications for licences?
Q6.V. What are the minimum and maximum lengths of time for processing applications?
The BSP's standard processing time for an application is 17 working days and 180 minutes upon receipt of complete and sufficient documents/information/inputs required for evaluation.
Q6.VI. How much time remains, at a minimum, between the granting of licences and the date of opening of the period of importation?
The applicant may proceed with the importation of regulated coin blanks/coins of various metals upon receipt of BSP prior written authorization.
Q6.VII. Is consideration of licence applications effected by a single administrative organ? Or must the application be passed on to other organs for visa, note or approval? If so, which? Does the importer have to approach more than one administrative organ?
Applications for issuance of prior written authorization to import regulated coin blanks/coins of various metals is processed by the BSP (through the Mint and Refinery Operations Department [MROD]) only.
Q6.VIII. If the demand for licences cannot be fully satisfied, on what basis is the allocation to applicants made? First come, first served? Past performance? Is there a maximum amount to be allocated per applicant and, if so, on what basis is it determined? What provision is made for new importers? Are applications examined simultaneously or on receipt?
There is no limit on the number of applications for prior written authorization that will be processed by the BSP in a given year.
Q6.IX. In the case of bilateral quotas or export restraint arrangements where export permits are issued by exporting countries, are import licences also required? If so, are licences issued automatically?
Q6.X. In cases where imports are allowed on the basis of export permits only, how is the importing country informed of the effect given by the exporting countries to the understanding between the two countries?
Q6.XI. Are there products for which licences are issued on condition that goods should be exported and not sold in the domestic market?
Q7. Where there is no quantitative limit on importation of a product or on imports from a particular country:
The quantity of regulated coin blanks/coins of various metals to be imported by the applicant-importer shall be limited to the quantity stipulated in the prior written authorization. The application for prior written authorization shall be processed upon presentation of complete documentary requirements as stated in the BSP Citizen Charter on Importation of Coin Blanks / Coins of Various Metals.
Q7.a. How far in advance of importation must application for a licence be made? Can licences be obtained within a shorter time-limit or for goods arriving at the port without a licence (for example, owing to inadvertency)?
Q7.b. Can a licence be granted immediately on request?
Q7.c. Are there any limitations as to the period of the year during which application for licence and/or importation may be made? If so, explain.
Q7.d. Is consideration of licence applications effected by a single administrative organ? Or must the application be passed on to other organs for visa, note or approval? If so, which? Does the importer have to approach more than one administrative organ?
Q8. Under what circumstances may an application for a licence be refused other than failure to meet the ordinary criteria? Are the reasons for any refusal given to the applicant? Have applicants a right of appeal in the event of refusal to issue a licence and, if so, to what bodies and under what procedures?
All applications for BSP prior written authorization covering importation of regulated coin blanks / coins of various metals who failed to submit, and present complete documentary requirements will be ineligible for issuance of prior written authorization. The applicant may resubmit its application at its own convenience. After which, the procedure stated therein the Citizen Charter shall be applied.
Eligibility of Importers to Apply for Licence
Q9. Are all persons, firms and institutions eligible to apply for licences: (If not, is there a system of registration of persons or firms permitted to engage in importation? What persons or firms are eligible? Is there a registration fee? Is there a published list of authorized importers?) a) under restrictive licensing systems? b) under non-restrictive systems?
Any individual/entity may apply for prior written authorization from the BSP for importation of regulated coin blanks / coins of various metals. The BSP does not charge any fee to applicants.
Documentational and Other Requirements for Application for Licence
Q10. What information is required in applications? Submit a sample form. What documents is the importer required to supply with the application?
There is a standard/prescribed application form for importation of regulated coin blanks / coins of various metals. The applicant may submit an application letter to the BSP together with the following pertinent information/documents:
| a. Notarized Application for Authorization indicating, among others specifications of metal, supplier, and purpose of procurement; |
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| b. Owner's registration certificate, if applicable; |
| c. Importer's Registration certificate, if applicable |
| d. Authorization from Corporate Secretary; |
| e. Two (2) government Issued IDs; |
| f. Specifications and actual dimension of coin (e.g., diameter, weight, edge thickness, material composition); |
| g. Customer Satisfaction Survey (to be submitted after processing of application by BSP); and |
| h. Additional requirements for partnership/corporation: 1. Articles of incorporation/partnership; 2. Company's By-laws; 3. List of Directors/Partners; 4. List of Principal Stockholders; and 5. List of beneficial owners, if any. |
Q11. What documents are required upon actual importation?
The importer only needs to present BSP's prior written authorization to the BOC officers handling the importation.
Q12. Is there any licensing fee or administrative charge? If so, what is the amount of the fee or charge?
None.
Q13. Is there any deposit or advance payment requirement associated with the issue of licences? If so, state the amount or rate, whether it is refundable, the period of retention and the purpose of the requirement.
None.
Conditions of Licensing
Q14. What is the period of validity of a licence? Can the validity of a licence be extended? How?
The prior written authorization issued by the BSP for importation of regulated coin blanks/coins of various metals does not have a specific validity period. The authority remains valid until such time the actual importation of regulated coin blanks/coins of various metals covered by the written authorization takes place.
Q15. Is there any penalty for the non-utilization of a licence or a portion of a licence?
None.
Q16. Are licences transferable between importers? If so, are any limitations or conditions attached to such transfer?
No. The BSP's prior written authorization shall be used only by the applicant-importer indicated in said written authority.
Q17. Are any other conditions attached to the issue of a licence? a) for products subject to quantitative restriction? b) for products not subject to quantitative restriction?
Once the actual importation takes place, the applicant-importer shall submit to BSP, through MROD, within ten working days from the date indicated in the Bill of Lading the following documents:
- Bill of Lading;
- Commercial Invoice; and
- Packing List.
Failure to comply or submit the abovementioned documents shall result to cancellation or revocation of their authorization.
Other Procedural Requirements
Q18. Are there any other administrative procedures, apart from import licensing and similar administrative procedures, required prior to importation?
There is no other requirement from the BSP for the importation of regulated coin blanks / coins of various metals aside from the BSP's prior written authorization.