Owner Comments:
Lyman Allen #7.03 (KM #165) - Mintage: 10,000 (estimated survival 5,042)
Ten Centavo coins were not minted for general circulation by the Philadelphia mint in 1904, but 10,000 uncirculated seven coin sets were ordered by the well known numismatist Farran Zerbe to be sold at the Philippine Exhibit at the Louisiana Purchase Exposition in St. Louis in1904. Supply far exceeded demand for these uncirculated sets, and only 3,254 were sold at the exposition. The remaining 6,746 sets were shipped to the Philippines where another 500 were sold by the Treasury. The 6,246 unsold sets were ultimately broken up and released into general circulation.
This coin is a heavily toned example of this rare date and given the high state of preservation, it was most likely part of one of the sets that was purchased by a collector. Also, given the heavy toning, it was probably stored in the original packaging for a long period of time.
Date acquired: 8/4/2013 (already graded by PCGS)
References
- Shafer, N. "United States Territorial Coinage for the Philippine Islands." Racine, Wisconsin: Whitman Publishing Company, 1961.
Rev. 12/6/2018