G.R. No. L-24109; August 10, 1967
The People of the Philippines, plaintiff-appellee, vs. Rogelia de Ocampo y Padilla, defendant-appellant.

FACTS

On September 15, 1964, Rogelia de Ocampo was at Balamacan pier in Mogpog, Marinduque, about to board a boat for Lucena, Quezon. A Philippine Constabulary patrol, on the lookout for smuggling, searched her belongings with her permission and found three bags of coins inside her buri bag and rattan basket. The total amount of the coins was P1,120.00 in denominations of 50¢, 20¢, 10¢, and 1¢. She was taken to PC headquarters, and an inventory was taken. A complaint was filed against her on September 16, 1964, and on the same day, she executed an affidavit (Exhibit A) relating to the facts. An information was filed in the Court of First Instance of Marinduque on September 22, 1964. After pleading not guilty and standing trial, she was convicted on December 29, 1964, and sentenced to one year imprisonment, a fine of P5,000.00, plus costs and confiscation of the coins held in excess of fifty pesos. She appealed, raising a point of statutory interpretation.

ISSUE

Whether Rogelia de Ocampo’s possession of silver and/or nickel coins in the aggregate amount of P1,120.00, not alleged or shown to be for more than seven days, constitutes a violation of Republic Act No. 427 .

RULING

Yes. The Supreme Court affirmed the judgment of conviction. The Court held that appellant could not successfully claim to fall under “persons conducting business” who, under Section 1 of Republic Act No. 427 , are given a period of seven days (after the original seven-day period following the passage of the Act) to turn over excess coins to a bank, treasury, or post office in exchange for notes. Appellant was not engaged in business as an incident of which she possessed the coins, as she kept no record of inventory of coins every seven days as required by the law for persons conducting business. Instead, her affidavit (Exhibit A) admitted that she was engaged in the buying and selling of coins for a percentage, that the coins were intended to be sold to someone in Lucena, that she derived the coins from agents who purchased and turned them over to her for a percentage, and that she had previously consummated similar transactions four times before. This practice of purchasing and selling coins for a percentage constitutes the evil intended to be curbed by the law, as it results in the withdrawal of coins from circulation through systematic, deliberate, and excessive accumulation, adversely affecting the economy. Therefore, her possession of the coins was punishable under Section 2 of Republic Act No. 427 .