Short answer. Yes. Article 164 of the Revised Penal Code punishes not only mutilating coins but also importing or uttering mutilated current coins, or acting in connivance with mutilators or importers — so bringing already-mutilated coins into the Philippines is itself an offense, with prision correccional in its minimum period and a fine of up to ₱400,000.
What the law says
The penalty of prisión correccional in its minimum period and a fine not to exceed Four hundred thousand pesos (₱400,000) shall be imposed upon any person who shall mutilate coins of the legal currency of the Philippines or import or utter mutilated current coins, or in connivance with mutilators or importers.
Revised Penal Code, Article 164 — Mutilation Of Coins. Read the full provision →
Importing mutilated coins is its own offense
Article 164 punishes any person who shall mutilate coins of the legal currency of the Philippines or import or utter mutilated current coins, or in connivance with mutilators or importers. Importing is listed as its own distinct way of committing the offense, separate from mutilating the coins yourself — the article does not require that you be the one who damaged the coins in order for bringing them into the country to be punished. The coins covered are those of the legal currency of the Philippines, and for importing and uttering the article speaks of mutilated current coins — money still in circulation, not demonetized pieces.
What uttering adds to the offense
The article also punishes uttering mutilated current coins — putting them into circulation or otherwise passing them off — alongside importing and mutilating. So even setting aside the act of bringing coins across the border, using or passing along mutilated coins you did not mutilate yourself is separately covered by this same article, provided the other elements of the offense are present.
Connivance with the mutilator or importer
The article extends liability to anyone acting in connivance with mutilators or importers, meaning someone who works together with the person who mutilated or imported the coins can be punished under this article even if they did not personally mutilate, import, or utter the coins themselves. This broadens the offense beyond the person who physically committed the mutilation or importation. Connivance points to a shared understanding with the mutilator or importer, not mere proximity to them.
The penalty and its current amount
The offense carries prision correccional in its minimum period and a fine not to exceed ₱400,000. This fine figure reflects the amounts as amended by Republic Act No. 10951, which revised fines throughout the Revised Penal Code in 2017 — older copies of the Code may show a much lower original fine, so it is worth checking which version of the text a particular source is giving you.