Owner Comments:
Lyman Allen #11.01 (KM #170) - Mintage: 1,250,651
The 1907 Twenty Centavos are distinctive because they are the first reduced size and weight coins in the series and the last to be minted by the Philadelphia mint for general circulation. A sharp rise in the price of silver in 1906 caused the bullion value of all of the U.S. Philippine silver coins to significantly exceed their face value. There were laws prohibiting the melting and export of silver coins, but they proved ineffective and legislative action was needed to prevent the export of silver and keep coins in circulation.
The U.S. Congress passed an Act "for the purpose of preventing the melting and exportation of the silver coins of the Philippine Islands as a result of the high price of silver" on December 6, 1906. This act reduced the weight and fineness of all of the U.S. Philippine silver coins and provided for the recall of all circulating silver coins for shipment back to the United State for re-coining.
The Twenty Centavo coins minted from 1907 onward were reduced from 5.385 Grams (83.1 grains), of .900 fineness silver (ASW 0.1558 oz.) to 4.0 grams (61.72 grains), of .750 fineness silver (ASW 0.0964 oz.). The size of the Twenty Centavos was also reduced in diameter from 23 mm to 20 mm.
This particular coin is well struck with breast feathers visible on the eagle's chest, and a full evenly struck set of stars and stripes on the the shield. The obverse is not quite as well struck as the reverse and shows some flattening of the hair, breast, high point center-line, and both hands. The toes on the left foot however are all distinct and very well struck. The fields on both sides of the coin are relatively clean and the coin is deserving the MS64 grade it received. As of this revision, the NGC population in MS64 is 6 with none finer.
Date acquired: 2/16/2012 (raw coin)
Date graded: 12/20/2012 (self submitted to NGC)
Rev. 12/6/2015