Finest 1906-S One Peso offered at Stack's

The 1906 San Francisco mint 1 Peso enjoys the status as "King of Philippine coins" not because of its mintage, but because of the history behind it. There were more than 200 thousand of this coin produced dated 1906 aside from the proof coin minted by the Philadelphia mint. But because of the scarcity of silver and its importance to the economy of mainland United States, its former colony, the Philippines undergone several transition including the reduction of size of the United States colonial coins as well as its alloy. From the standard of 1 ounce, the Philippines adopted 3/4 of an ounce for the equivalent of peso in silver unit.

1 Peso, 1906-S. MS-62 (PCGS). This is the finest known example of the 1906-S Peso, accompanied by a partial Type Set of First Issue Philippine Coins. Students of the U.S. Philippine coinage estimate that perhaps only 200 1906-S Pesos survive today in all grades. Most have seen substantial circulation and have been cleaned. Even Extremely Fine specimens without a trace of original surface are routinely sold for a couple of thousand dollars and the few About Uncirculated pieces known are all five-figure coins. The few Uncirculated pieces known are the stuff of legend to the ever-increasing number of enthusiastic aficionados collectors of this historic series. The present 1906-S Peso boasts fully original, unaltered surfaces, lustrous flash beneath the handsome russet and blue toning shared by the other Silver coins in this historic group.

Stack's is proud to have been selected to introduce this example of the greatest rarity of the U.S. Philippine series to the collecting public! This is the first appearance of this finest known 1906-S Peso, MS-62 (PCGS). The population reports underline its rarity: PCGS has certified two in MS-61, two in MS-62; NGC has certified one in MS-60, one in MS-61.

Joining the Peso are the other three coins comprising this historic grouping, who have journeyed together for more than a century: * 1904-S 50 Centavos, MS-62 (PCGS) * 1903 20 Centavos, MS-63 (PCGS) * 1903 Bronze Half Centavo, MS-64 RB (PCGS). Here is a truly historic offering whose like may never be seen again. The possessor of this group will have custody of a unique window into the beginnings of American coinage for this unique Far Eastern possession. (Total: 4 pieces) (80,000-100,000)

During World War 2, most of the remaining 1906-S 1 Peso being held by the Philippine treasury were dumped in the waters of Manila bay as a drastic measure to avoid confiscation by the invading Japanese Imperial Army. Thus, only a few specimen survived in excellent condition including the one from the Golden Horn Collection.

This group of four exceptional coins was formerly the property of a Major in the American forces that "pacified" the islands in the early 1900's. He stored the coins in his Army footlocker, and there they were to remain for more than a century. The first, large-size coins were struck from 1903 to 1906 when skyrocketing silver prices had caused the Silver value of the Peso and minor coins to exceed their face value. The change-over to reduced sizes and weights took place during 1906, after the San Francisco Mint had already struck 201,000 Peso pieces. The Mint halted distribution after a very few coins were released. The balance of the issue was returned for melting and recoinage into the new small-size Pesos of 1907.

According to elder numismatists from the Philippine Numismatic And Antiquarian Society, Felipe Liao, a former officer of the club himself was the only known local collector who had acquired more or less than 40 pieces of the 1906-S 1 Peso, discovered only after his collection broke down after his death. Several of his prize possessions were donated by his heirs after his death to De La Salle University museum. -"quotes from coinarchives"

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The 1910 S Ten Centavos: Truth or Dare!

The 1910 San Francisco Mint Ten Centavos

It had been more than two decades since the 1910 San Francisco Mint Ten Centavos was published that if somebody would have found it, the collector would have paid a great sum to have the fabled coin. The 1910 S is one of the famous numismatic pieces that had a very colorful background. Almost a century and there is still no confirmed and graded specimen had ever surfaced except for those 1918 S that were with altered dates to look like the 1910 S. Luckily, I was able to meet the person who claimed that he possesses the most intriguing coin in Philippine numismatic history. He don’t want to tell his name for a valid reason since nowadays that fakery and counterfeiting are so rampant that he wanted to protect his name and integrity, and the same with that of his prize possession.

I otherwise is in no position to claim that this is the genuine article except to show to you the picture of the coin since it had never undergone professional grading and I myself was not able to hold the piece that long for further scrutiny. Anyway, the story seems to be interesting enough for me to take time and have the owner interviewed.

According to historical record, only two pieces of the coin were produced and one of the two specimens was acquired by the National Museum and had it displayed until the World War II erupted. The National Museum as we know was destroyed by Japanese air raids during the war. Together with that, a great lost of Philippine historical records and artifacts went missing as massive looting and fires destroyed much of the collections among them to name a few were the skeletal remains of Andres Bonifaco and the 1910 S Ten Centavos.

There were no reports of its existence nor any could claim that the 1910 S Ten Centavos did ever exist except with this account. Not until a famous newspaper advertisement decades ago that the numismatic world became aware of its existence. However, after the story surfaced other craftsmen and forgers started producing faked or altered date 1918 S Ten Centavos to make money with the treasure hunt. Thus, a number of collectors and dealers began to doubt if there really is a 1910 S Ten Centavos or it is just one of the fairy tale of the numismatic world.

I asked my subject how did he acquire the piece. He explained to me that he was not aware that he has the coin in his collection since it came from a bulk of coins he bought from a sidewalk vendor during his visit in the Northern part of the Philippines. He was not otherwise aware that that particular coin exists since he has no reference, catalogues, nor much knowledge of coin mintage since he is not that serious into coin collecting.

When he joined the Philippine Numismatic and Antiquarian Society (PNAS), a local numismatic club then he learned that the coin that he now owns is that rare. Since he is also afraid to show the coin in public because of the counterfeit phobia he decided to hide the coin and just enjoyed it in privacy. Otherwise, he wants it be professionally graded first before he could brag that he owns the fabled coin in Philippine Numismatic history.

The owner wishes anonymity but he granted us to have the coin’s picture. You’ll be the judge of course, truth or dare!

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The Flora and Fauna Patterns, Errors, and Trial Strikes Part 1

1986 FIFTY CENTAVOS STRUCK IN COPPER

Another pair of amazing errors emerged from an old collector's vault. This time it came from the modern coins produced by the Bangko Sentral ng Pilipinas. In 1983, the Bangko Sentral ng Pilipinas (BSP) produced a series of coins which is called the "flora and fauna" where it featured the indigenous plants and animals of the Philippines. One of the most familiar animal used on these designs was that of the eagle, where it made a second appearance in a Philippine coin only then, the eagle being featured was the Philippine Eagle (Pithecophaga Jefferyi) instead of the previously used American Bald Eagle during the period of American occupation. This denomination become an interesting piece for collectors of Philippine coins since errors began appearing soon after the series were issued to the public. Misspelled names were the caused why the BSP had to re-issue two of the denominations involved, the ten centavos and the fifty centavos coins. The Latin name of the Philippine Eagle was spelled as "Pithecobhaga Jefferyi" instead of "Pithecophaga Jefferyi".

Another remarkable event that happened in Philippine history that was Edsa Revolution, otherwise affected the designs and manufacturing of Philippine coins and that particularly showed the changes between the issue of 1983-85 Fifty Centavos coins and the 1986-92 Fifty Centavos coins . In 1986 after a new government was installed, the design of the eagle was altered making it appeared bigger. A trial strike this denomination in copper could be compared to a regular issue to observe the changes that occurred.

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