Owner Comments:
This is the first proof one peso (piso) coin of the Republic. It was designed by Frank Gasparro, the U.S. Mint's then-Chief Coin Designer and Engraver. His initials are on the neck of the bust on the obverse. This coin was minted at the U.S. Mint's San Francisco facility.
The obverse features the bust of Dr. Jose Rizal, a Filipino nationalist during the tail end of the Spanish colonial period of the Philippines. He is widely considered to be one of the greatest heroes of the Philippines. It also has the coin’s denomination, “Piso.”
The reverse bears Country’s name, the mintage year, and the issuing bank. It also has the country’s coat of arms, which feature the eight-rayed sun of the Philippines with each ray representing the eight provinces which were placed under martial law during the Philippine Revolution (1896-1898.) The three five-pointed stars represent the country's primary geographic regions (Luzon, Visayas, and Mindanao.) On the dexter (left) side of the shield is the North American bald eagle of the United States, its left talon grasping an olive branch and the right talon grasping three spears, denoting peace and war. On the sinister (right) side is the lion rampant of the coat of arms of the Kingdom of León (part of a united Spain from 1479). Both the eagle and the lion represent the country's colonial past. Beneath the shield is a scroll with the inscription in Filipno, "Republika Ng Pilipinas."
In 1974, at the request of the Central Bank, the San Francisco Mint produced a Philippine proof set. It was packaged in a style similar to the proof sets it had made for the 1968-1972 US coins. These sets, along with many of the 1974-dated coins, were actually minted in 1975.
Unfortunately, perhaps while sending them to the Philippines or shortly thereafter, the shipment was either dropped or bumped, resulting in many of the proof set's cases being slightly cracked, consequently letting in the hot and humid ambient air of the Philippines. Worse still, the blue-colored cardboard used to support and frame the coins interacted chemically with some of the coins as the surrounding ambient moisture seeped in. This chemical interaction affected the brass 5 Sentimo coins the most, causing practically all specimens to become corroded.
The cupro-nickel denominations typically suffer only from a cloudy white coloring, worse near the edges where the cardboard holds the coins. As a consequence, this environmental damage rendered these proof sets basically unsalable, and none of the 10,000 of these sets made was ever officially released.
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This coin has pristine Cameo surfaces that show vivid contrast between the mirrored fields and frosted devices. It has a sharp strike with full, original luster, and a few scattered contact marks commensurate with the grade. It also has some hazing around the periphery, but nothing that a little conservation can't remedy. Overall, the quality is above average and eye appeal is very pleasing. The proof sets are a bit scarce, especially ones in very good condition. I acquired this coin as part of a proof set and had it graded.
⚙️ Coin Specifications and Information
Composition: Copper-Nickel-Zinc
Weight: 15.0000g
Diameter: 33mm
Edge: Reeded
Alignment: ⬆️ ⬇️
Mintage: 10,000
KM# 203
📆 This Year in Philippine History
On 21 July 1974, the 23rd Miss Universe pageant was held at the Folk Arts Theater in Manila, Philippines. It was the first Miss Universe pageant to ever be held in the Philippines, and by extension, Southeast Asia.
Then outgoing Miss Universe Margarita Moran of the Philippines crowned her successor, the tearful Miss Muñoz, at the conclusion of a two-hour telecast.
There were 65 delegates from around the world who competed for the 1974 title.
Notably, the first Miss Universe (1952), Armi Kuusela of Finland, 1967 Miss Universe Sylvia Hitchcock of the United States, and 1969 Miss Universe Gloria Diaz of the Philippines graced the event. The event was hosted by Bob Barker and Helen O'Connell and was attended by an estimated 10,000 crowd and broadcast live by CBS and Radio Philippines Network.
The venue of the event, the Folk Arts Theater near the famed Manila Bay, was commissioned by then First Lady Imelda R. Marcos and was built for only 90 days in time for the pageant. It was inaugurated on July 7, 1974.
Manila again hosted the event 20 years later, when it became the host city for the Miss Universe 1994 pageant.
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📖 Information sources:
Wikipedia contributors. (2021, November 26). José Rizal. In Wikipedia, The Free Encyclopedia. Retrieved 20:29, November 30, 2021, from https://en.wikipedia.org/w/index.php?title=Jos%C3%A9_Rizal&oldid=1057246053
Wikipedia contributors. (2022, July 15). Sheldon coin grading scale. In Wikipedia, The Free Encyclopedia. Retrieved 11:19, October 9, 2022, from https://en.wikipedia.org/w/index.php?title=Sheldon_coin_grading_scale&oldid=1098379145
Source: Ubipetrus. (2018, June 21). History of All Philippine Coins #4: Pilipino & Bagong Lipunan Eras [Forum post] Retrieved May 3, 2019, from http://filipinonumismatist.forumotion.com/t584-history-of-all-philippine-coins#3693
NGC, World Coin Price Guide, Philippines Coin Price Guide (Powered by NumisMaster), Retrieved 10:05, November 30, 2020, from https://www.ngccoin.com/price-guide/world/philippines-piso-km-203-1972-1974-cuid-1112364-duid-1519618
Numista Coin Catalog. Coins from Philippines. Retrieved 10:15, November 30, 2021, from https://en.numista.com/catalogue/pieces3749.html
Today in Philippine History, June 27, 1974. Retrieved 22:38, October 8, 2022, from https://kahimyang.com/kauswagan/articles/1563/today-in-philippine-history-july-14-1974-miss-universe-pageant-opened-at-the-folk-arts-theater
Wikipedia contributors. (2022, September 20). Miss Universe 1974. In Wikipedia, The Free Encyclopedia. Retrieved 22:42, October 8, 2022, from https://en.wikipedia.org/w/index.php?title=Miss_Universe_1974&oldid=1111348171