The Rarest of the Rare by JAA USA/Philippines Collection

CSJournals-migration · September 29, 2012

All Gem quality USA-Philippine proof coins are rare and PF67 Superb Gems are Ultra Rare treasures. The 1904 One Centavo in PF67RB is one of those very special coins. This Top Pop treasure has a combined NGC/PCGS population of two with no specimens graded higher.

USA-Philippine Proof Sets were only manufactured for five years (1903 through 1906 and again in 1908) and all were extremely small mintages compared to today's modern proof sets. The mintages for USA-Philippine Proof Sets by year are; 1903 (2,558), 1904 (1,355), 1905 (471), 1906 (500) and 1908 (500). Thus for the full five year run of this series only 5,384 proof specimens were struck for each denomination. If you count all seven denominations only 37,688 USA-Philippine proof coins were ever made.

Of course the total number of surviving Gem Proofs is much less than the original, already low, mintage. At the turn of the 20th century the U.S. Mint had not developed the protective packaging that is used today. "USA-Philippine Proof Sets were not sold in any sort of protective packaging or cases but were contained in plain paper coin envelopes and beach 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 coins are quite RARE and all are scarce due to the low mintages" (Allen 2008). In addition it isn't unusual to see USA-Philippine proof coins with high technical grades but unattractive toning. Gem Proofs with above average eye appear are very special treasures and the few SUPERB GEM PF67 and PF68 specimens are the rarest of the rare.

No USA-Philippine Proof coin of any denomination or year has ever been graded PF70 or PF69 by one of the major grading services and you can probably count the total number of PF68 specimens on your fingers and toes. Proof 67 specimens of any year or denomination are ultra rare and extraordinary treasures.

Of the 5,384 proof One Centavos produced between 1903 and 1908 NGC and PCGS combined have only graded thirteen (13) specimens PF67 and one (1) PF68. I am extremely honored to be the new custodian for one of those coins.

I have always wanted to add a PF67 USA-Philippine coin to my collection but until now that prize has always alluded me. Last Sunday's (9/23/12) Teletrade Auction 3351 offered a large selection of USA-Philippines coins. Lot number 2821 was an Ultra Rare 1904 USA-Philippines One Centavo graded NGC PF67 RB. I was fortunate to win this coin for the reserve price of $600.00 ($690.00 with buyer's premium).

The combined NGC/PCGS population for this TOP Pop beauty is two (2) specimens with none graded higher. The 1904 One Centavo in PF67 RB receives 1958 Registry Points.

I am delighted to add this great treasure to my prize winning (2011 Best Presented Set) "JAA USA/Philippines Type Set" Collection http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=51257&Ranking=all

Additional Registry sets that this coin was added to include the following:

"USA-Philippines, Proof Issues": http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=51344&Ranking=all

"1904 Proof Set": http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=143091&Ranking=all

"One Centavo": http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=51347&Ranking=all

"USA-Philippines, Complete": http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=68602&Ranking=all

"USA/Philippines Type Set (Expanded Edition": http://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=9238

"Philippine Pedigrees": http://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=10670

The attached photo is the obverse of my 1904 One Centavo NGC PF67RB.

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