Owner Comments:
Lyman Allen #17.06 (KM #172) - Mintage: 463,000 (est undamaged surviving - 20,812)
Total Mintage: ........................................................ 463,000
Reserved for Assay: ......................................................232
--------------------------------------------------------------------------
Net available for circulation: ............................... 462,768
Estimated Sold (1916): ....................................... 161,000
Estimated Recoined (1913-1941): ................... 103,733
--------------------------------------------------------------------------
Maximum possible surviving (before 1943): ... 198,035
Estimated Lost to salt water damage: ............. 177,223
--------------------------------------------------------------------------
Estimated Surviving undamaged: ....................... 20,812 (4.5% of total minted)
The 1911S peso is the second lowest mintage standard issue US/Philippine peso. Mintage is an important factor in determining rarity, but in this series other factors tend to have more influence. This is particularly true for the pesos. The vast majority of pesos did not circulate and remained in the vaults of the Philippine Treasury. 15 million were sold in 1916 for their bullion value and another 9.6 million were recoined into smaller denominations beginning in 1915 and continuing through 1941. That still left 16 million in treasury vaults, and if the Japanese had not invaded the islands in 1942, high grade uncirculated examples of US/Philippine Pesos might be nearly as common as uncirculated Morgan and Peace dollars. Unfortunately, most of these pesos were dumped into the ocean to keep them out of the hands of the invading Japanese forces. Consequently, very few uncirculated examples remain, and this is particularly true for the 1911S and 1912S Pesos.
This 1911S Peso is a nice clean example that avoided the watery fate of most pesos. It also has the distinction of having been part of the Dr. Greg Peneda collection.
Date acquired: 10/23/2013 (Already graded by NGC)
Rev. 11/7/2020