A badly hairlined 1906S US-PI Peso on ebay draws large bids
IloiloKano
Posts: 1,051
This is one of the few coins in the US-PI category that most people will never be able to afford, which is why I pretend that not having one doesn't count.
1906 S USA-PHIL PESO XF DETAILS SURFACE HAIRLINES (i.e. Harshly Cleaned)
For those that don't know the history, 201,000 were shipped to the Philippines in 1906. During shipment, the price of silver skyrocketed so there was more than 50 cents worth of silver (exchange value as set by law) in the US-PI Peso. As a result, all were recalled back to the mainland in order to be melted to produce smaller 1907 Pesos composed of 80% silver, vice the previous 90% silver slugs that were previously minted on Morgan Dollar planchets. It is estimated that less than 100 escaped the recall, many of which were collected by one individual who had the annoying habit of cleaning them to make them shiny again. Others of the period also participated in this horrendous practice, so many (if not most) of those pesos that escaped that one collector were also cleaned to make them nice and shiny as well. Hence, there remains a mere handful left that shows no evidence of being mishandled by such boobs.
I guess that's why the current ebay example, which would be body-bagged by PCGS, is enjoying quite spirited bidding.
1906 S USA-PHIL PESO XF DETAILS SURFACE HAIRLINES (i.e. Harshly Cleaned)
For those that don't know the history, 201,000 were shipped to the Philippines in 1906. During shipment, the price of silver skyrocketed so there was more than 50 cents worth of silver (exchange value as set by law) in the US-PI Peso. As a result, all were recalled back to the mainland in order to be melted to produce smaller 1907 Pesos composed of 80% silver, vice the previous 90% silver slugs that were previously minted on Morgan Dollar planchets. It is estimated that less than 100 escaped the recall, many of which were collected by one individual who had the annoying habit of cleaning them to make them shiny again. Others of the period also participated in this horrendous practice, so many (if not most) of those pesos that escaped that one collector were also cleaned to make them nice and shiny as well. Hence, there remains a mere handful left that shows no evidence of being mishandled by such boobs.
I guess that's why the current ebay example, which would be body-bagged by PCGS, is enjoying quite spirited bidding.
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Best wishes from Bangkok,
Just Having Fun
And have you any more duplicate high grade centavos for sale?