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Article 163. Making and importing and uttering false coins. - Any person who makes, imports, or  utters false coins, in connivance with counterfeiters, or importers, shall suffer:

1. Prision correccional in its minimum and medium periods and a fine not to exceed four hundred thousand pesos (P400,000), if the counterfeited coins be any of the coinage of the Philippines. 

2. Prision correccional in its minimum period and a fine not to exceed Two hundred thousand pesos (P200,000), if the counterfeited coin be currency of a foreign country.

ELEMENTS:
1. That there be false or counterfeited coins (need not be legal tender);
2. That the offender either made, imported, or uttered such coins; and
3. That, in case of uttering such false or counterfeited coins, he connives with counterfeiters or importers.

NOTES:

A coin is counterfeit if it is forged or if it is not authorized by the government as legal tender, regardless of whether it is of intrinsic value.

Counterfeiting is the imitation of a legal or genuine coin such as to deceive an ordinary person in believing it to be genuine.

To utter is to pass counterfeited coins, deliver, or give away. To import is to bring them into port. Importation is complete even before entry at the Customs House.

This article also applies to Philippine coins, foreign state coins, and coins withdrawn from circulation. This does not require that the coins counterfeited be legal tender.

Kinds of coins the counterfeiting of which is punished
- Silver coins of the Philippines or coins of the Central Bank of the Philippines;
- Coins of the minor coinage of the Philippines or of the Central Bank of the Philippines;
- Coin of the currency of a foreign country.

People vs. Kong Leon, 48 OG 664
Former coins withdrawn from circulation may be counterfeited under Art 163 because of the harm that may be caused to the public in case it goes into circulation again.