Owner Comments:
Mintage: 500 (PROOF ONLY ISSUE)
Composition: Silver
Fineness: 0.8000
Weight: 20.0000g
ASW: 0.5144oz
Edge: Reeded
The obverse and reverse designs of the 1907 through 1912 Peso are the same as the 1903 through 1906 Peso.
In 1907 a rise in the price of silver forced the reduction of the fineness and weight for all Philippine silver issues. The silver Peso was reduced in fineness from .900 silver, 26.95 Grams to .800 silver, 20.0 Grams, and the diameter was reduced from 38 mm to 35 mm.
Business strikes of the reduced size and weight Peso were struck at the San Francisco Mint from 1907 through 1912. In 1942 about 16 million Pesos in silver coins were crated and thrown into the sea near Corregidor to avoid seizure by the invading forces of Japan. The majority of these coins were 1907 through 1912 Pesos that were being stored for use as backing for the paper money then in circulation. Since the war over 10 million Pesos have been salvaged however these sea salvaged coins are typically heavily corroded from their long immersion in salt water
Five-hundred Proof specimens of the reduced size and weight Peso were struck at the Philadelphia Mint in 1908. Since 1908 was the last year of production for U.S. Philippines Proof Sets the 1908 Peso has the distinction of being a one year Proof type coin.
This specimen is handsomely toned in dominant olive-gold and charcoal-blue. Glints of brick red are also evident here and there around the obverse periphery. A gorgeous Gem with solid technical quality and eye appeal to spare this specimen is a stellar example of the reduced size proof peso.
PCGS Population: 11/9 (PCGS Condition Census)
NGC Population: 7/1