Owner Comments:
Lyman Allen #2.01 (KM #163) - Mintage: 2,558
Mintage for the first year of US/Philippine proof coin production was limited to 2,558 sets. The seven coin Philippine proof sets were produced at the Philadelphia mint from 1903 through 1908 (excluding 1907), and were sold to the general public for $2.00 per set. At the time these sets were produced, there was no protective packaging. Each coin was individually wrapped in tissue paper and placed in a plain paper coin envelope. As a result, many proof coins exhibit micro thin hairline scratches as well as heavy toning. When combined with very low mintages and low initial sales to the public, it's easy to see why fully gem proof coins are very rare.
This particular coin exhibits a very clear strike on both obverse and reverse with no distracting marks on either side and just a bit of proof luster underneath the brown patina. This is the first proof US/Philippine coin I acquired. It was an eBay auction and was not listed as a proof, but the seller had done a great job of photographing his coins. The pictures were so good that it was easy to see the squared off rims, full facial detail (including the ear,), complete toes on the right foot and the complete well defined fingers on the right hand on the obverse. The detail on the reverse is just as impressive. The eagle's wing tips, head, and claws are very well defined, and all 13 stars and stripes on the shield are evenly struck and perfectly defined. Given all of these pick up points, I was very confident that I was bidding on a proof coin and not a regular production strike. I waited nearly 8 years to have it graded because I thought it would only garner a PF63BN, even purchasing a PF64RB that was "pre-slabbed." I sent it in on a whim, and now I'm very glad I did!
Date acquired: 3/3/2005 (raw coin)
Date graded: 1/14/2013 (self submitted to NGC)
References:
- Shafer, N. "United States Territorial Coinage for the Philippine Islands." Racine, Wisconsin: Whitman Publishing Company, 1961.
Rev. 10/1/2018