Owner Comments:
This coin has the second lowest mintage of the series, not counting the proofs. It is considered by some as a conditional rarity in Mint State and is even scarce in AU condition. The reason for this is not necessarily the low mintage number, but the other circumstances that occurred which are unique to some coins in this series.
For starters, most of these coins were kept out of circulation and held in reserve for use as backing for the country’s paper money. Then, some were sold for bullion, and some were melted for re-coining into smaller denominations (Shafer, 1961). Finally, a great loss of these coins happened during World War 2. In an attempt to save the Philippine national treasury from the hands of the invading Japanese forces, around 16 to 17 million peso coins of various dates (roughly 425 tons of silver) were dumped into the waters of Manila Bay near Corregidor Island (Hubbell, n.d.).
Although about 80% of the coins are said to have been recovered, they are damaged due to the saltwater corrosion and oxidation. Sadly, it is estimated that slightly less than 5% of the minted total are surviving undamaged today.
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My coin is a lustrous example of a near-Mint, well-struck coin. It has glittering cartwheel luster for the grade and bright reflective fields. Touches of light gold toning here and there throughout the coin accent its highly reflective surfaces. A few light abrasions do not distract from its eye appeal.
⚙️ Coin Specifications and Information
Composition: Silver
Fineness: 0.8000
Weight: 20.0000g
ASW: 0.5144oz
Diameter: 35mm
Edge: Reeded
Alignment: ⬆️ ⬇️
Mintage: 463,000
KM# 172
📆 This Year In Philippine History
On January 30, 1911, Taal Volcano erupted. The eruption claimed a reported 1100 lives and millions of pesos worth of damage, and is considered one of the volcano's more devastating eruptions. The seven barangays that existed on the island previous to the eruption were completely wiped out.
In Manila, in the early hours of January 30, 1911, people were awakened by what they at first perceived as loud thunder. The illusion was heightened when lightning illuminated the southern skies. A huge, fan-shaped cloud of what looked like black smoke ascended to great heights, crisscrossed with a brilliant display of volcanic lightning. This cloud finally shot up in the air, spread, then dissipated, marking the culmination of the eruption, at about 2:30 a.m.
Great changes took place in the crater after the eruption. The various colored lakes had disappeared and in their place was one large lake, about ten feet below the level of the lake surrounding the island. Volcano Island sank between 1 and 3 meters as a result of the eruption.
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📖 Information sources:
Shafer, N. (1961). United States Territorial Coinage for the Philippine Islands. Whitman Publishing Company, 31.
Hubbell, John G. The Great Manila Bay Silver Operation. Retrieved 18:42, September 27, 2021, from https://www.corregidor.org/chs_trident/silver/hubbell_01.htm
Wikipedia contributors. (2020, June 2). Sheldon coin grading scale. In Wikipedia, The Free Encyclopedia. Retrieved 21:30, September 5, 2021, from https://en.wikipedia.org/w/index.php?title=Sheldon_coin_grading_scale&oldid=960391269
NGC, World Coin Price Guide, Philippines Coin Price Guide (Powered by NumisMaster), Retrieved 21:27, September 5, 2021, from https://www.ngccoin.com/price-guide/world/philippines-peso-km-172-1907-1912-cuid-1112357-duid-1518523
Numista Coin Catalog. Coins from Philippines. Retrieved 21:24, September 5, 2021, from https://en.numista.com/catalogue/pieces4349.html
Wikipedia contributors. (2021, October 6). Taal Volcano. In Wikipedia, The Free Encyclopedia. Retrieved 14:05, October 7, 2021, from https://en.wikipedia.org/w/index.php?title=Taal_Volcano&oldid=1048506229