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 unusual toning which appears much nicer in hand than these scans would indicate.

Date acquired: 8/25/2009 (already graded by PCGS)

References:
- Shafer, N. "United States Territorial Coinage for the Philippine Islands." Racine, Wisconsin: Whitman Publishing Company, 1961.

Rev. 12/18/2015