Owner Comments:
Lyman Allen #20.00 (KM #178) - Mintage: 10,000
THE COMMONWEALTH OF THE PHILIPPINES was founded on November 15th, 1935. To commemorate this historic event, a set of three coins containing one 50 Centavo piece and 2 different One Peso pieces was minted at the Manila Mint. The issue price for this set was $3.13 USD! Despite the historical significance, low mintage of 10,000 sets, and the low issue price, many sets remained unsold and languished in the Philippine Treasury. When the Japanese invaded in 1941, the vast majority of these unsold sets were dumped into the Pacific Ocean to keep them from falling into enemy hands. This is the reason that so many of these coins exhibit damage due to prolonged exposure to salt water and are thus described as “sea salvaged.”
These three coins were the first to bear the new Commonwealth obverse which was applied to all production coins beginning in 1937. The reverse of this coin depicts the overlapping busts of the first Philippine President, Manual L. Quezon in the foreground, and U.S. Governor General, Frank Murphy in the background. As a commemorative issues, these coins are typically very well struck.
This particular coin is not as well struck as many, but is still a very satisfying example of this Manila Mint issue.
Date acquired: 11/25/2006 (Already graded by NGC)
Rev. 12/16/2015