Owner Comments:
Specifications: (1937 through 1941) Bronze (95% copper, 5% zinc and tin), 80 Grains, 24 mm; (1944) Bronze (95% copper, 5% zinc), 80 Grains, 24 mm.
The One Centavos of 1937 through 1944 continue the same obverse design common to all Phillipine base medal coins from 1903 through 1936. In 1937 the reverse design of all US/Philippine coins were changed to reflect the new status for the Philippines as a Commonwealth of the United States. A smaller eagle was used, now perched atop a smaller shield with a banner below it inscribed "Commonwealth of the Philippines." The shield used was an adaptation of a design used for the official seal of "The Government of the Philippine Islands" which appeared on Philippine paper money starting in 1905.
The One Centavos of 1937 through 1941 were minted at the Manila Mint. During the 1942 through 1944 Japanese occupation of the Philippines nearly all coins disappeared from circulation, and most daily commerce was conducted with low denomination paper currency printed by Guerrilla military units, local municipalities, or Military and Civilian Currency Boards authorized by General MacArthur or the Commonwealth government-in-exile under President Quezon.
When American forces liberated the Philippines in 1944 - 1945 they brought with them Fifty Eight Million 1944 One Centavo coins minted at the San Francisco Mint.
The 1937 One Centavo had a mintage of 15,790,000. The NGC population for the 1937 M One Centavo in MS65 Red is 8 coins with only 3 specimens graded higher. The combined NGC/PCGS certified population of the 1937 M One Centavo in MS65 Red is 14 coins with 9 specimens graded higher (12/01/2013). This specimen is a brilliant, well struck GEM.