1504 1905- S Philippine Peso & 1903 - S Philippine Peso

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1504 1905- S Philippine Peso & 1903 - S Philippine Peso

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LOT DATA

Starting bidPHP 5,000
Current bidPHP 38,000
Total bids23

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Without a doubt the Large Peso is the "King" of the USA/Philippines Type Set. The large 38 mm size of this coin showcases the beautiful obverse design of Melicio Figueroa which features a young Filipino woman standing to the right in a flowing dress while striking an anvil with a hammer held in her right hand, the left hand is raised and holding an olive branch. In the background is a billowing volcano.
The reverse design depicts an eagle with spread wings perched atop an American shield. At a weight of 26.9568 Grams of .900 Silver (ASW .78000 oz) the Large Peso, minted from 1903 through 1906 had a silver content equal to the U.S. Morgan Dollar.
With an official exchange rate of two Philippine Pesos to one U.S. dollar it was not long before the value of the silver content in the Large Peso exceeded its face value and many were melted during the great silver melts of the period.
In 1906 the Silver Pesos held in reserve by the Treasury to back the Philippine paper money then in circulation were exported to the U.S. for re-coinage into the reduced size and weight pieces which followed in 1907.
2 pcs.

D: 1.5” (3 cm) each