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Newly Discovered 1905 Proof Peso Philippines at GreatCollections

Ian Russell on Sat, Jan 21, 2017 09:15:35 PM
Newly Discovered 1905 Proof Peso Philippines at GreatCollections

1905 U.S. Philippines One Peso PCGS Proof-64
Bidding Ends Sunday, February 12, 2017

Following the Spanish-American War, the United States gained control of the Philippine Islands in 1898. Five years later, the United States government began producing Peso-denominated coins for the Philippines. Although the coins circulated in Asia, they were made in both Manila (M mintmark) and the United States (at the Philadelphia, Denver and San Francisco mints). Due to their connection to both countries, they have crossover appeal with both American and Filipino collectors.

The U.S. Philippines One Peso coin has the exact same technical specifications as a Silver Dollar – but is a good bit scarcer. The Proof One Pesos are ever rarer. In the early 20th century, the Philadelphia Mint issued a limited number of U.S. Philippines proof sets to collectors. The 1905 set is the rarest in the series; just 471 were released.

Like all 1905-dated Philippines proof coins, this Silver Dollar is unquestionably rare. In fact, as of early 2017, PCGS has graded fewer than 60 pieces in all grades. The scant number of auction records further demonstrates this coin’s rarity. In all grades, just a half dozen coins have been offered for sale in recent years.

This specimen just recently surfaced; it was submitted to PCGS by GreatCollections and is fresh to the market. Graded Proof 64, the piece shows even and natural grey color, mildly reflective fields, clean original surfaces, a perfect strike, and excellent overall eye appeal.

This newly-discovered piece is an exciting opportunity for Philippines coinage specialists – or a great entrée to this fascinating category. It also represents a great way to own an extremely scarce U.S. Mint product with a tiny mintage. We expect this coin will generate a tremendous amount of attention, both from United States and world collectors.

View the 1905 U.S. Philippines Peso PCGS Proof-64 at GreatCollections