According to Bangko Sentral ng Pilipinas (BSP), ten million pieces of the new one-peso coin will be issued this month (December, 2011) to commemorate the 150th Birthday of the Philippines national hero, Dr. Jose Rizal.
This is how the new one-peso coin will look like. It will be a grayish, nickel-plated with the portrait of Dr. Rizal on the face of the coin. Etched on it is the 150 years Republika ng Pilipinas and the years 1861-2011.
The new BSP seal, 1-piso and 2011 bears the reverse side.
It is of the same size and weight as the one-peso in circulation. BSP’s Monetary Board and the Office of the President agreed the issuance of the commemorative coin as legal tender.