Owner Comments:
1903 U.S. PHILIPPINES TEN CENTAVOS
PCGS PROOF 67
PCGS Certification # 45246666
SPECIFICATIONS
Category: Philippines Under U.S. Sovereignty
Mint: Philadelphia
Mintage: 2558
Designer: Melicio Figueroa
Engraver: Charles Barber
Composition: Silver
Fineness: 0.9
Weight: 2.6924g
ASW: 0.0779oz
Melt Value: $2.51 (10/6/2024)
Diameter: 17.5mm
Edge: Reeded
The obverse design by Melicio Figueroa features a young Filipino woman standing to the right in a flowing dress while striking an anvil with a hammer held in her right hand, the left hand is raised and holding an olive branch. In the background is a billowing volcano. The reverse design, also by Melicio Figueroa, depicts an eagle with spread wings perched atop an American shield.
At a weight of 2.69 Grams of .900 Silver the Large (17.5 mm) Ten Centavos, minted from 1903 through 1906 had a silver content equal to the U.S. Barber Dime. With an official exchange rate of two Philippine Pesos to one U.S. dollar it was not long before the value of the silver content in the Large Ten Centavos exceeded its face value and many were melted during the great silver melts of the period. In 1906 the silver coins held in reserve by the Treasury to back the Philippine paper money then in circulation were exported to the U.S. for re-coinage into the reduced size and weight pieces which followed in 1907. Lyman Allen estimates that less than 20% of all 1903-1906 silver coinages exist today in any grade.
Business strikes were coined at the Philadelphia Mint in 1903 and 1904 and the San Francisco Mint in 1903 and 1904. Proofs of the Large Ten Centavos were made in very limited quantities at the Philadelphia Mint from 1903 through 1906. Proof sets were not sold in any sort of protective packaging or cases but were contained in plain paper envelopes and each coin was wrapped individually in thin tissue paper. This method of packaging has contributed to the micro thin hairline scratches seen on most proof coins as well as the heavy toning often seen. GEM Proof coins are rare and attractively toned Superb GEM Proof coins, like this specimen, are Very Rare to Ultra Rare.
This beautiful Superb GEM Proof Specimen is fully struck and has gorgeous bullseye toning on both sides.
When viewed straight on the obverse has an outer ring of electric Mint Green which surrounds an inner bullseye of brilliant fully reflective Gold. and bright Red central derives. When rotated under a strong light the color of the outer bullseye changes from Mint Green to Turquoise Blue, then Dark Red. The inner bullseye changes from Gold to Electric Pink and then Red-Orange while the central devices remain a brilliant Red.
The reverse is even more attractive. When viewed straight on the reverse has an outer ring of Hot Pink which surrounds an inner bullseye of brilliant fully reflective Gold. and Mint Green central devices. When rotated under light the outer ring changes from Hot Pink to a Deep Maroon, the inner fields change from Gold to a multi Toned Rainbow with consecutive rings of Green, Gold, Orange, Pink, Blue and Red, while the central devices change from Mint Green to Emerald Green.
Pedigree:The Ya Olde Tyme Collection of Attractively Toned World Coins
PCGS Population: 15 / PCGS Population Higher: 6 (October 5, 2024)
NGC Population: 5 / NGC Population Higher: 0 (October 5, 2024)
Combined PCGS/NGC Population: 20 (October 5, 2024)
Combined PCGS/NGC Population Higher: 6 ( October 5, 2024)
Purchased from Great Collections in their September 29, 2024 Online Auction, Lot # 165663
Holder Type: PCGS Gold Shield