USPI-1936
Private
Updated:
7/24/2020
Views: 868
THE COMMONWEALTH OF THE PHILIPPINES was founded on November 15th, 1935. To commemorate the first anniversary of this historic event, a set of three coins containing one 50 Centavo piece and two different one peso pieces was minted at the Manila Mint. The issue price for this set was Php6.25 or $3.13USD! Despite the historic significance, low mintage of 10,000 sets and the low issue price, many sets remained unsold and languished in the Philippine Treasury. When the Japanese invaded, the vast majority of these unsold sets were dumped into the Pacific Ocean in early 1942 to keep them from falling into enemy hands. This is the reason that so many of these coins exhibit damage due to prolonged exposure to salt water and are thus described as “sea salvaged.”
The obverse of all three coins and their common reverse were designed by Ambrosio Morales. These three coins were the first to bear the new Commonwealth reverse which was subsequently applied to all production coinage struck from 1937-1941, and again in 1944 and 1945.
Rev. 1/5/2019
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USPI-1936
By coin928
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