Owner Comments:
Lyman Allen #8.17 (KM #169) - Mintage: 1,000,000
General
The reserve of ten centavos in the Philippine treasury, last struck in 1921 was sufficient to meet demand until late in 1928. The order for new 10 centavos likely came at the end of 1928 or early 1929. Dies were received from the Philadelphia mint and 1,000,000 coins were struck.
The Philippine economy was tied to the U.S. economy and suffered through the great depression of the 1930's right along with the United States. The treasury reserves of ten centavos coins again built up and no new coins were required until 1935. According to mint and treasury records, only half of the ten centavo coins struck in 1929 were actually transferred to the treasury
in 1929. The remaining 500,000 coins were not transferred to the treasury until calendar year 1930. Although no reason was given for this delay, the U.S. stock market crash on October 29, 1929 and the subsequent economic depression may have played a part.
It is also interesting to note that this is the first ten centavo coin to bear the new block style "M" mint mark which was first applied to Manila mint coinage in 1925.
This coin
This coin is a lightly toned, well preserved specimen with plenty of eye appeal.
Varieties
8.17 - Normal date.
8.17a - Re-punched date.
Date acquired: 9/1/2013 (Already graded by NGC)
Rev. 11/3/2019