Rarest of the Philippine peso overstikes
Japanese WWII General Homma medals were overstruct on manila bay dump pesos.
Given to soldiers who conquered Corregidor to be worn around the neck
First strikes show some of the under coin peso letters and or date indicating a U. S. / philippine coin.
Not what the Japanese wanted. These are the very rarest of the HOMMA medals.
Later pesos were heated/melted a little till the inscriptions disappeared before striking.
I have only seen 3 of the ones where the under coin can be seen and none of those have a loop atop.
Two that I have seen were on a 1907-S and 1908-S philippine peso , the third I do not recall.
One of the great historical rarities of the U.S. Philippines numismatic period.