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USA Territory Coin - Philippines Peso
Panda4456
Posts: 362 ✭✭✭
Looks like we have an underrated series here with a lot of room to go up in value. These pesos were made in USA for the Philippines when it was a US territory. These coins are the same size of Morgan dollars.. These proofs have a much smaller surviving rate as Morgan dollar proofs and are much more affordable. These coins say United States of America and depict a Filipina girl on the obverse. Post your us-Philippines pesos! 
This one is not mine but is a nice example
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I don't know about under valued but are pretty and scarce. The problem is they are a different silver standard, lower weight plus they survived in decent numbers. Now would be the time to locate a 1906s. Little piece of advice with proofs of any series, it is all about eye appeal and you want mirrors, no spots and good skin. The grade is secondary
I have an original roll in suburb GEM of some of the halfs and a dime and double dime for the series. The smaller denoms have some great varieties. Here is one of the better ones
https://www.ebay.com/itm/1945-D-Philippines-Double-Die-10-Centavos-PCGS-MS-64-Allen-9-05b-Rare-Variety/183258378030?hash=item2aab0cef2e:g:LhIAAOSwlgNbFYPv]( https://www.ebay.com/itm/1945-D-Philippines-Double-Die-10-Centavos-PCGS-MS-64-Allen-9-05b-Rare-Variety/183258378030?hash=item2aab0cef2e:g:LhIAAOSwlgNbFYPv)]( https://www.ebay.com/itm/1945-D-Philippines-Double-Die-10-Centavos-PCGS-MS-64-Allen-9-05b-Rare-Variety/183258378030?hash=item2aab0cef2e:g:LhIAAOSwlgNbFYPv)
11.5$ Southern Dollars, The little “Big Easy” set
Welcome to the forum!
Welcome! I've got a couple of pesos myself. Here's one of them.
TurtleCat Gold Dollars
The 1903-1906 pesos are 90% silver and same size as the Morgan and peace dollars. The way I look at it, there are only 100-200 surviving 1906 pesos that are graded. If there was a Morgan dollar that rare then it would be worth tens of thousands 😀.
Welcome to the Forum.
Compare these to Philippine coins after the WW II rather than Morgan $s and you'll consider them overrated not underrated. They aren't Morgan $s. They don't belong in the Morgan $ series or the more generic U.S. $ types and so it is an apples and oranges comparison.
In my ever humble opinion, of course.
Here is one of the rarest (UNIQUE) and most valuable United States coins from the 20th Century and it just so happens to be a Peso. It’s owned by one of my customers and was formerly owned by board member Justhavingfun (RIP). Wondercoin
“Compare these to Philippine coins after the WW II rather than Morgan $s and you'll consider them overrated not underrated. They aren't Morgan $s. They don't belong in the Morgan $ series or the more generic U.S. $ types and so it is an apples and oranges comparison. In my ever humble opinion, of course.”
Quite the contrary sir. An excellent comparison can be made to Morgan dollars. I co-authored an article in 2018 along with my son Justin, published on this site by PCGS and available for review in the PCGS article library. The comparison was clearly made.
Wondercoin
Wow amazing thanks for sharing 😀
I appreciate the discussion back and forth. I think the 1903-1912 pesos can be compared to Morgan dollars but the 1940s coins are a bit over priced.
That is a beautiful proof peso, and I agree with your assessment.
Welcome to the boards!
My post to the forum thread entitled: “Opinion on next set to collect?” from September, 2017 :
“This is a new set that I'm leaning towards, a great set for relatively little bucks.
I think this set has the best value of any coin series currently.
Proof United States Philippine Pesos.
There are five coins in the set.
1903 mintage 2,558,
1904 mintage 1,355,
1905 mintage 471,
1906 mintage 500,
1908 mintage 500.
These mintage numbers are wildly misleading as the actual survival rate is extremely low.
Finest known coins are available, and there is not a large pool of undergrade coins looking to ruin the high grade pops.
The vast majority of the 1903 and 1904 coins were likely melted due to rising silver prices at the time, and the overwhelming number of the few coins that were saved have been kept brilliant white by polishing, a practice still very common among Filipino collectors.
An entire collection, that may include a top pop or two could run $25,000-$50,000, or a fraction of the price of one top pop Morgan Dollar from the same time period.
And many, if not most of these coins are absolutely stunning pieces of art.
Also, for a long time, USPI coins have been considered "world coins". Currently, we are experiencing a change where numismatic publications and auction houses, and much of the general numismatic community are now properly recognizing USPI coins as United States coins.
I believe there is quite an opportunity in this series.
I believe that anyone acquiring these five coins in any of the highest grades would immediately put their set in the top three sets in the registry, where, given the low pops, it will likely remain for a very long time.”
Ps. The Philippine proof 50 centavos aren’t too shabby either.
https://images.pcgs.com/CoinFacts/83580333_large.jpg
I find this series to be very attractive and appreciate the U.S. connection.
Some have a little extra history chopmarked onto the surface.
Thats a great coin, Dan!
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
From a quick Google search:
Morgan Dollars measured 38.1mm, weighed 26.73g, and were 90% silver.
The 1903-06 U.S. Philippine pesos measured 38mm, weighed 29.95g and were 90% silver.
The reduced size 1908 USPI pesos measured 35mm, weighed 26.95g and were 80% silver.
Well said! I am currently trying to put an ms set together though I know I’ll never be able to get an ms1906 and 1912
My US-Philippine coin story....
I was born and grew up in the Philippines until I left and immigrated in US when I was 16. My parents owned a mini market and also an electronic store. Back then I remember my mom saved a lot of US-Philippine coins and other odd coins she found in the cash box. But me being a kid (maybe stupid), will sometimes take some of the US-PI coins and take them to a local shop that buys precious metals and trade them to local PI money and spend them for food and toys.
I didn't realize that those US-PI coins are worth more money when I immigrated here in US and started collecting coins as well.
My mom gave the few coins that she was able to saved and I had some of them graded by ANACS and even though those coins are not worth a lot of money, it is still part of my collection that I treasure the most and will not let go out of my collections.
Thanks for reading.
Nice story thanks for sharing!
Tho not a peso it is a Philippine proof. I picked this one out of a junk box for a buck. PCGS PR64 RB.
To me that would qualify for a You Suck award!
TurtleCat Gold Dollars
Hey-thanks!
The comparison of the coins or the collector interest? There are a lot of U.S. Philippine collectors, but they just don't compare to Morgan $ collector interest. I'm not arguing that they aren't an important series in their own right, but to suggest that the price (collector interest) should be equivalent to proof Morgans either overstates the Philippine market or understates the Morgan market. In my opinion, of course.
I just don't think that a market as broad and deep as the U.S. market tends to have any "underrated" or "undervalued" coins.
Wow amazing find. I’d love to find that for a dollar 😀
I started reading COINage magazine in the mid 60s and maybe once a year or so they'd have an article on underrated/undervalued US coinage series, usually something like 2 cent pieces or three cent nickels. It was pointed out that similar mintages were less expensive compared to more popular coin series and if demand increased, values could go up significantly.
Maybe someday that will happen.
Half cents may be the one series that has been perpetually under appreciated that might actually have gained some appreciation over the years.
TurtleCat Gold Dollars
I love those in a nice red color but I don’t have the funds to purchase one at this time 😁
“I just don't think that a market as broad and deep as the U.S. market tends to have any "underrated" or "undervalued" coins.“
Jmlanzaf: How would one ever know for sure? Comparison to current price guide as the measure?
Wondercoin
Do you guys think the massive increase in interracial marriage and Americans living in Philippines will increase the prices?
I know. I see it all the time. And over long periods of time, tastes change. But they can change in both directions. LOL.
You could say that about even popular series: if demand increased, values would go up.
An old-timer in our local club always used to say that you should always collect three "areas": one will be going up, one will be going down, and the third one will be stable. He never really specified exactly what constituted "area" and he was a little too determinant in the 3 areas going in 3 different directions. I do think the basic advice is solid. It's essentially diversification.
Price guides will tell you the current direction, but I think that is a somewhat different point.
The "under" suggests to me the implication that something is being missed. I just think it is too mature a market for much of anything to get missed. People might not like classic commemoratives at the moment, but it's not because they are missing how low the mintage is for some of them. They just don't care for the series.
From Panda,
Well said! I am currently trying to put an ms set together though I know I’ll never be able to get an ms1906 and 1912_
Best of luck!
I started mine-- a complete date set in 1975. / 45years _still 2 coins short of an UNC set both AU58's
Forget grades just getting any uncleaned unc grade, in some dates it is very difficult and long waits of looking(years)
Ungrade as they come along. You may have to settle for nice circ graded coins for some key dates.
Unless you are young and have very deep pockets
. I would guess based on my years collecting this set and knowing many collectors and dealers with these coins I would say maybe only two or three complete sets (145 coins + 35 proofs) in an average MS 65 or above. Have ever been assembled. All taking decades .
Good luck enjoy all you coins
Krueger
See my 6th Army registry sets on PCGS
So far I have a ms61 1907s, ms61 1908 s, and pf 62 1903 😀. I’m planning on getting a ms61 1909 and ms 1903s this year. Eventuallly I’ll get them all except 1906😂
There's a lot of history with the US and the Philippines.
I have pesos but no good photos yet.
Here are two of my favorites non-pesos.
Aside from coins, the closest I can often get in the US is at Jollibee: https://jollibeeusa.com/
1917-S US Filipinas - 10 Centavos - Broadstruck Error
1904 Louisiana Purchase Exposition - Philippine Exhibit - Bronze Medal
Digging into the background of this helps tell the story of the US and the Philippines at the time.
“They just don't care for the series.“
Not sure what you mean? For the past year, the USPI series has been one of the hottest US Coin series- hands down. Coins thought to be valued at $17,000 or $18,000 have sold at $40,000+. Even greater percentage prices realized on the less expensive coins. In short, the series is RED HOT. And, anyone who follows the series (All 14 series to be precise) knows this to be a fact.
Wondercoin.
Edited to add... and there is a very good reason for this. Anyone who follows the USPI series want to venture a guess why?
I hope my error series is doing well!
Deep pocket Philippine collectors repatriating of their country's coins.
Lots of compition there at auctions. More U. S. dealers taking notice. Holding back their high grade accumulations
For even higher prices.
New reference book written by philipinos for philippinos. Well written only a few variety errors.
Only a Few copies in U. S
That's what I see--
Never say never-I just bought a coin a few hours ago that I thought I would never get. Maybe you'll come across some money one day and just go for it.
Here's another not-a-peso, but the minor coins in proof are equally fun to collect. I've been a big fan of the USPI series for years, as my mom was born in the Philippines and emigrated to the US as a child after the war; her dad was in the US Navy for 32 years dating back to the late 1920s.
The main series I collect are "world" coins minted by US Mints (link below), of which the USPI series coins account for 173 out of the 1,090 total coins in the set!
I meant that generically, not related to USPI.
Coins that are "undervalued" are really just eschewed by collectors which makes them correctly valued for the interest level.
@Panda4456.... Welcome aboard.... Thanks for initiating this interesting discussion on these coins. I will look into this area.... Cheers, RickO
Interest in the US Philippines series has to have improved since 2004 when I took some very choice and beautifully toned uncirculated examples of the 1936 commemoratives to the ANA Pittsburgh show to sell. There was virtually no interest in them at that time. I recall offering them to one very well known dealer in the US Commemorative series. He didn't even want to bother looking at them. I eventually sold them to another very well known dealer after enduring the usual badmouthing of what I had to sell. I made nothing on the coins.
I was stationed at Clark Air Base, RP in 1972 and 1973. While there I was a very active collector of US coins (lot of nice coins to be found among the local collectors and dealers) and also picked up a lot of the 1 Peso coins. They could be had for 5 pesos each in circulated condition (6 Peso = $1 at the time). I also found there were many, many high quality counterfeits on the market in the range of $20 each. I had no education at the time on counterfeit coins so I spent a lot of my cash on them. One of the guys who helped maintain the grounds on base would bring a lot of coins on and we would sit with the Red Book and his coins and dicker over prices and those were some great times.
I have no idea what happened after the volcano blew up and destroyed most of Angeles City (where I shopped) and Clark Air Base. I was stationed some where else in the world and my collecting interest had changed.
I'm not sure of the date, but there has definitely been more interest in these series in recent years. (@wondercoin - I'm not arguing that point, just the "under" part). I think it is probably also helped by a general increase in interest in Asian coins over the last decade. There are a lot of "hot" areas in the neighborhood.
The 1930s Commems are equally on fire these days. The last (2) top grade 1936-M Roosevelt-Quezon fetched more than 3x the retail price guide and that translates to thousands of dollars over the retail guide. No question, 2004 was a great time to buy USPI coins!
Wondercoin
I am not a big fan of the 1936 one peso coin but I do own the 1936 Murphy/quezon ! I don’t often see the Roosevelt ones!
I think having a dealer focus on USPI coins has helped drive interest a lot.
The 1904 Philippine Exhibit medals have also been doing well with the rest of the Louisiana Purchase Expo medals.
It's interesting to classify these as "world" coins.
I consider them to be US coins, as does PCGS (in CoinFacts).
Why do you classify these as "world" coins? Is it because the Philippines are no longer part of the US today?
So, what do you do with the most beautifully toned, highest graded, pop 1/0 first year Issue Proof USPI Peso? I gave to my son as a “Christmas bonus” for his hard work in the coin biz back in 2017. It was that or a 25 pound turkey. I know he is happy I picked the coin! 😝 He made it the logo for his coin company, Monstercoinmart.
What a Christmas bonus! That looks like a really nice coin and a stunner at PR68!
Do you or he have some angled slab photos to show off the beauty of the toning more?
One thing that may help generate more interest in the coins is a more complete pedigree / provenance list on CoinFacts.
Right now the 1903 PR68 peso isn't listed in the census at all, but is shown as a featured photo.
And there's no provenance for any of the coins in the census.
https://www.pcgs.com/coinfacts/coin/1903-peso/90402
Zoins. I picked this 1903 coin from among virtually every high grade “monster toned” proof peso I handled (perhaps 95% of all known proof coins at this point) including the PR68+ 1904 beauty shown in the OP’s opening post. I think Justin might have some different angles of the coin featured on his website. It is an amazing color coin from virtually every angle. One day, it will be on display for all to see when the #1 Peso proof set holder shows off all the other incredibly toned beauties he possesses from every other date in the 1903-1908 series.
Wondercoin
Here's a great pedigree lists of USPI coins.
I edited the following set description for only information relevant to Philippines coins as there was some general collection descriptions in there as well.
https://coins.www.collectors-society.com/wcm/CoinCustomSetView.aspx?s=10670
Here's a Ray Czahor peso I'd love to have!