Gem quality U.S. Philippine Proof Sets of any year are a challenge to assemble and the 1905 Proof Set, with its ultra low mintage of only 471 sets, is the ultimate challenge.
U.S. Philippine Proof Sets were not sold in any sort of protective packaging or cases but were contained in plain paper envelopes and each coin was wrapped individually in thin tissue paper. This method of packaging has contributed to the micro thin hairline scratches seen on most proof coins as well as the heavy toning often seen.
Gem quality examples are quite elusive and it has taken me years to complete this set. With the exception of the One Centavo all of the coins in the 1905 U.S. Philippines Proof Set are PROOF ONLY ISSUES.
The final coin needed to complete my Registry Set was the 1905 Proof Peso. Only a couple of 1905 Proof Pesos in the higher grades have been offered over the internet or at major coin auctions over the past few years and all have sold for a considerable premium over book value despite being only moderately attractive.
My newly acquired 1905 Peso is a PCGS PR64. It was purchased on ebay for slightly over book value. Although the ebay picture was of low quality the seller described the coin as having "pristine surfaces and beautiful toning". As I expected that description was slightly exaggerated (otherwise the coin would have been graded higher) but it is still a very nice coin and solid for the grade. There are no hairlines visible on either the obverse or reverse and a single contact mark on the obverse keeps it from a higher grade. The specimen has reflective surfaces and iridescent blue and gold periphery toning.
Here is a complete list of the coins in my 1905 U. S. Philippines Proof Set:
HALF CENTAVO: PCGS PR64 Red, (Pedigree: Louis E. Eliasberg Sr. Collection), NGC Population 0/1, PCGS Population 2/4
ONE CENTAVO: NGC PF67RB, NGC Population 1/0 (Single Finest Certified by NGC), PCGS Population 0/0 (RB), 1/0 (RD)
FIVE CENTAVOS: PCGS PR65, (Pedigree: Dr. Greg Pineda Philippine Collection), NGC Population 3/6, PCGS Population 7/15
TEN CENTAVOS: NGC PF65, NGC Population 3/4, PCGS Population 11/2
TWENTY CENTAVOS: NGC PF64, NGC Population 5/5, PCGS Population 15/22
FIFTY CENTAVOS: NGC PF64, NGC Population 4/7, PCGS Population 14/19
ONE PESO: PCGS PR64, NGC Population 3/6, PCGS Population 9/17
The coin pictured is my newly acquired 1905 Peso, PCGS PR64. The white marks are dust spots on my scanner. Unfortunately my scanner did a very poor job of capturing the toning and the coin is considerably more attractive than the picture. The dark periphery toning in the picture is iridescent blue and gold. After I have the coin professionally photographed I will post more accurate images.
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