Coin recirculation is a perennial problem that is facing almost all countries. As coins are left idle at home because some consumers find it inconvenient to carry them or consider them of little value as a form of payment, governments continue to incur production costs to meet the demand for coins by the public.

In the Philippines, coins in circulation reached 41.0 billion pieces as of 30 June 2024, with each Filipino having approximately 376 pieces of coins. This is more than three times the average of 121 coins per capita in 2005.

Despite having an adequate supply of coins, a perceived “artificial coin shortage” has been reported in certain areas of the country.  Thus, the Bangko Sentral ng Pilipinas (BSP) embarked on the Coin Deposit Machine Project as part of its coin recirculation program. The project is considered an innovation as it incorporated financial inclusion and digitalization.  Coins deposited can be exchanged into a shopping voucher of a participating retailer or credited to the e-wallet of the depositor, the latter being the highly preferred option of depositors. Meanwhile, the coins collected are distributed to the retailers for recirculation.