Owner Comments:
Lyman Allen #4.06 (KM #164) - Mintage: 300,000
Everyone knows that the U.S/Philippine half centavo was not popular with Filipinos when they were first released 1903. What few collectors realize though is that the Five Centavo coins were just as unpopular. Of the nearly 10 million minted in 1903 and 1904, 6.7 million were in circulation on July 1, 1904. That number declined to a low of 4.8 million in 1906. On July 1, 1906, there were more 5 centavo coins in treasury vaults than there were in circulation!
Over the 12 intervening years, the 5 centavos coin gradually gained acceptance by the general population and in mid1916, the supply in the treasury was exhausted. The call went to San Francisco mint and all 300,000 were struck in August 1916. The coins were immediately released into circulation when they arrived in the Islands. Virtually none languished in the treasury so finding high grade examples is extremely difficult.
This is an affordably graded example of this rare key date coin of the U.S. Philippine Series.
Date acquired: 1/12/2023 (already graded by PCGS)
References:
- Shafer, N. "United States Territorial Coinage for the Philippine Islands." Racine, Wisconsin: Whitman Publishing Company, 1961.
Rev. 1/17/2023