Owner Comments:
The 1905 Peso is scarce in the Choice to Gem (and above) grade. One of the reasons is due to the coin's weight and size which made it prone to bag marks. Another reason is the coin's availability. There simply aren’t enough of these surviving in pristine condition today due to a series of events that began that year:
1905--the new Philippine Peso was just a couple of years into circulation and had barely gained wide acceptance when new obstacles emerged. In April 1905, the price of silver began to increase rapidly, resulting in the value of the Peso coin’s silver content becoming more than its monetary value. As a result, it became profitable to sell the coins and melt them. People began hoarding and exporting these silver coins to places like Hong Kong, prompting the government to intervene. So as a temporary way of dealing with the problem, laws were passed that made it illegal to export Peso coins. (To read what happens next in this story, please view the comments of my 1906-S Peso.)
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Abundant luster remains on this coin's blast white surfaces. This coin is fairly clean for having seen brief circulation, with just the usual handling marks commensurate for its grade.
⚙️ Coin Specifications and Information
Composition: Silver
Fineness: 0.9000
Weight: 26.9500g
ASW: 0.7800oz
Diameter: 38mm
Edge: Reeded
Alignment: ⬆️ ⬇️
Mintage: 6,056,000
KM# 168
📆 This Year In Philippine History
On January 15, 1905, local elections were held for provincial and municipal posts throughout the Philippine Archipelago. Famous lawyers and doctors including the rich and the wealthy, political families were elected. Manuel L. Quezon and Sergio Osmeña Sr. (who would later become Philippine presidents) were elected as the first Filipino provincial governors of Tayabas and Cebu.
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📖 Information sources:
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-168-1903-1906-cuid-1085604-duid-1519450
Numista Coin Catalog. Coins from Philippines. Retrieved 21:24, September 5, 2021, from https://en.numista.com/catalogue/pieces4349.html
Wikipedia contributors. (2021, September 11). 1905 Philippine local elections. In Wikipedia, The Free Encyclopedia. Retrieved 15:36, September 12, 2021, from https://en.wikipedia.org/w/index.php?title=1905_Philippine_local_elections&oldid=1043780297