The Coin Shortage of 1917
10 CENTAVOS P39

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Note Details

Set Details
Note Description: Philippines / WWI Emergency Issue
10 Centavos 1917
Grade: 64
Country: PHI
Note Number: PHI39
Signatures/
Vignettes:		 - National Bank
Certification #: 6048694-044  
Owner: coin928
Sets Competing: The Coin Shortage of 1917  Score: 282
Date Added: 12/10/2022
Research: See PMG's Census Report for this Note

Owner's Description

U.S. Philippines - Ten Centavos, Issued November 20, 1917 - Total issued: 2,500,000
Serial Number: 2464

World War I greatly increased commerce in the Philippines raising demand for circulating coinage. Rising silver prices made conditions even worse because people began hoarding silver coins which were already in high demand. The U.S. Mint was overwhelmed with demand for domestic coinage and was also minting coinage for other foreign countries due to the war.

These conditions finally caused the Philippine National Bank to issue these and 20 Centavos notes on November 20, 1917. 50 centavo and one peso notes preceded them by nearly one month on September 22, 1917. The crisis was short lived and the notes were retired relatively quickly as they were returned to the bank.

Date acquired: 12/9/2022 (already graded by PMG)

Rev. 8/28/2023

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