| Slot: |
10 CENTAVOS P39 |
| Item: |
Philippines / WWI Emergency Issue
10 Centavos 1917 |
| Grade: |
PMG 64 |
| Cert #: |
6048694-044
|
Owner Comments
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
|
| Slot: |
50 CENTAVOS P41 |
| Item: |
Philippines / WWI Emergency Issue
50 Centavos 1917 |
| Grade: |
PMG 63 EPQ |
| Cert #: |
2169643-012
|
Owner Comments
U.S. Philippines - 50 Centavos, Issued September 22, 1917 - Total issued: 4,000,000
Serial Number: 970208
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 notes and one peso notes on September 22, 1917. 10 and 20 Centavo notes followed roughly a month later on November 20, 1917. The crisis was short lived and the notes were retired relatively quickly as they were returned to the bank.
Date acquired: 8/26/2023 (already graded by PMG)
Rev. 8/28/2023
|
| Slot: |
1 PESO P42 |
| Item: |
Philippines / WWI Emergency Issue
1 Peso 1917 |
| Grade: |
PMG 64 |
| Cert #: |
1817771-004
|
Owner Comments
U.S. Philippines - One Peso, Issued September 22, 1917 - Total issued: 2,000,000
Serial Number: 730173
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 notes and 50 Centavos notes on September 22, 1917. 10 and 20 Centavo notes followed roughly a month later on November 20, 1917. The crisis was short lived and the notes were retired relatively quickly as they were returned to the bank.
Most notably, these were the first one peso notes issued in the Philippines.
This particular note was purchased as part of a complete set of four notes. I was (and likely still am) a novice in the area of bank notes and I thought I had gotten quite a good deal on the set of four. I submitted them to PMG for certification and grading, hoping for good grades on all of them. I was greatly disappointed to find out that only the one peso note was genuine, so my good deal turned out to be just a reasonable price for the single genuine note. Combine that with the cost of grading for four notes though and this was a rather expensive lesson. All the rest are being purchased in their holders!
Date acquired: 9/21/2017 (Raw set of notes)
Date graded: 10/1/2018 (Self submitted to PMG)
Rev. 8/28/2023
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