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1906 Philippine/U.s 1 Peso Silver

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Valued Member
baguiobookstore's Avatar
Philippines
120 Posts
 Posted 05/13/2007  02:01 am Show Profile   Bookmark this topic Add baguiobookstore to your friends list Get a Link to this Message Number of Subscribers
why is this coin that costly?
I've seen its mintage and it's 201,000.
but why it cost up to 10,000 USD?
did I miss some historical event regarding the 1906 coins?
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1-Yahoo
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Sap's Avatar
Australia
16806 Posts
 Posted 05/13/2007  02:36 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
The 1906-S peso is a classic example of why "mintage" isn't the best indicator of "rarity", because you can't tell by the mintage figure what's happened to the coins subsequently.

Shortly after these coins were minted and shipped off, the price of silver spiked; this meant that there was now more than a peso's worth of silver in them. Many were either never released for circulation or were melted down by unscrupulous folks for their silver content. When the peso was withdrawn and a new, smaller peso with lower-grade silver replaced it, the stockpile of old pesos would have included most of the surviving 1906-S coins.

This stockpile would either have been returned to America for melting down and re-minting into new pesos, melted down in the Manila mint once it opened in 1920, or lost in WWII; maybe someone more familiar with the story can say which of these actually occurred. In any event, according to Wikipedia, only about 250 1906-S pesos have survived to the present day.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
Valued Member
Ireland
498 Posts
 Posted 05/13/2007  06:27 am  Show Profile   Bookmark this reply Add josie to your friends list Get a Link to this Reply
Yes, and also their is conterfiet expert can distinguished what is real or not and be cautious.
Valued Member
baguiobookstore's Avatar
Philippines
120 Posts
 Posted 05/13/2007  8:54 pm  Show Profile   Bookmark this reply Add baguiobookstore to your friends list Get a Link to this Reply
oh I see. thanks SAP.
josie have you had any knowledge about 1955 Lincoln Cent?
could be their any counterfeit?
i plan to buy one auctioned at ebay Phil. for only 20 bucks! wew!
http://www.ebay.ph/viItem?ItemId=330117342278
Edited by baguiobookstore
05/13/2007 9:05 pm
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Susanlynn9's Avatar
United States
5877 Posts
 Posted 05/13/2007  9:11 pm  Show Profile   Bookmark this reply Add Susanlynn9 to your friends list Get a Link to this Reply
I STRONGLY recommend not bidding on this auction. There are no pics of the coin and there are coins called "poor man's doubled dies" that command a very small premium (only $1 or $2).

This seller has managed to provide pictures in past auctions. This whole auction smells bad to me.
Valued Member
baguiobookstore's Avatar
Philippines
120 Posts
 Posted 05/13/2007  9:36 pm  Show Profile   Bookmark this reply Add baguiobookstore to your friends list Get a Link to this Reply
happy mother's day Susan.
i think that's a good advise.thanks!
had requested a pics but I ain't satisfied with the reply.
Pillar of the Community
scoutjim99's Avatar
United States
4589 Posts
 Posted 05/13/2007  10:19 pm  Show Profile   Bookmark this reply Add scoutjim99 to your friends list Get a Link to this Reply
Yes Susan gave you great advice
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