USPI-1904 Proof
Private
Updated:
5/8/2025
Views: 1,189
1904 Proof Coinage for the insular area of the Philippine Islands.
Mintage: 1,355. These sets were struck on order to satisfy collector demand. Half Centavos, Centavos, and 5 Centavo coins were also produce by the Philadelphia mint as business strikes for general circulation.
In addition to the 1,355 regular proof sets, another 10,000 uncirculated 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 released into general circulation. The coins in these additional "non-proof" sets are generally well struck and some even display a proof-like appearance. It is still relatively easy to differentiate between proofs and non-proofs for 1904 issues as the proof coins were struck twice and display more pronounced devices. The fingers of the right hand of the male figure and the hair and toes of the female figure are the best indicators.
There is one other anomaly that differentiates the 1904 proof sets from the rest. the 1904/4 Proof Peso is the only known proof variety. This RPD variety is easy to identify even with the naked eye. The coin in this set is a good example. It seems surprising to me that at least two dies were used to produce a mintage this small.
The seven coin Philippine proof sets were produced at the Philadelphia mint from 1903 through 1908 (excluding 1907), and were sold to the general public for $2.00 per set.
At the time these sets were produced, there was no protective packaging. Each coin was individually wrapped in tissue paper and placed in a plain paper coin envelope. As a result, many proof coins exhibit micro thin hairline scratches as well as heavy toning. When combined with very low mintages and low initial sales to the public, it's easy to see why fully gem proof coins are very rare.
References:
• "U.S./Philippine Coins" by Lyman L. Allen 7th Edition 2012 updated and edited by Tom Culhane, Union NJ, 2012
• "U.S./Philippine Coins" by Lyman L. Allen 6th Edition 2008-2009 published by Lyman Allen Rare Coins Virginia City, NV 2007
• "United States Territorial Coinage for the Philippine Islands" by Neil Shafer, Whitman Publishing Company Racine, Wisconsin, 1961
Rev 2/8/2013
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USPI-1904 Proof
By coin928
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