Owner Comments:
Lyman Allen #7.05 (KM #165) - Mintage 471
General
Proof mintage for this year was limited to 471 sets making this the rarest of all of the Proof 10 Centavos. 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.
It is interesting to note that as in 1903 and 1904, 1905 proof sets were only minted on order. Obviously the novelty had worn off, and collector interest had declined so significantly that only 471 sets were ordered. By the end of 1905, all sets had been acquired by collectors and none remained for future purchase from the mint.
This Coin
This is a great, albeit heavily tarnished, example for this very rare issue. The detail is sharp and crisp on both sides of the coin, and there are very few marks.
Varieties
Only one pair of dies was created, so there are no die varieties for this issue
Date acquired: 10/24/2019 (Already graded by NGC)
References
- Shafer, N. "United States Territorial Coinage for the Philippine Islands." Racine, Wisconsin: Whitman Publishing Company, 1961.
Rev. 10/24/2019