Owner Comments:
Lyman Allen #13.03 (KM #167) - Mintage: 2,160,000
By the end of World War II, nearly 96% of all of the Fifty Centavos produced for circulation from 1903, 1904, and 1905 had been melted by the Philippine government and recoined into the reduced size and weight silver coinage that began in 1907. Given the initial mintage of 2.16 million and a survival rate of roughly 4.5% , the number remaining available to collectors would be under 100,000! These coins were relatively well accepted by Filipinos when they were released and by the end of 1905, over 88% of all of the fifty centavo coins minted had entered circulation.
But wait, that's not all! Silver prices spiked in 1906, and the government estimated that roughly one million pesos worth of silver coinage was hoarded and melted by the general population because the coins were worth more as bullion than their face value. Applying that additional information, drops the reaming population in half! It is quite likely then that only 50,000 1904 S fifty centavo coins remain in existence for collectors. The great silver melts of the last half of the 20th century may have reduced that even more. The uncirculated coins that remained in the treasury were the first to be melted, so the only source of uncirculated specimens is those that were put away by individuals at the time they were released. The point of this rather long winded explanation is that finding a nice uncirculated 1904-S fifty centavo coin is a seriously difficult task. There just aren't that many left and the ones that are left tend to be circulated..
This particular specimen looks better in hand that these pictures make it appear. It is not the prettiest of specimens, but it is uncirculated. I've been looking for one for many years, so I bought it when I saw it.
Varieties: None reported.
Date acquired: 7/19/2018 (Already graded by NGC)
Rev. 7/19/2018