Philippines 1868 2 pesos

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Sincona sale 46, lot 772
This specimen was lot 772 in Sincona sale 46 (Zurich, May 2018), where it sold for 350 CHF (about US$420 including buyer's fees). The catalog description[1] noted,
"PHILIPPINES, Isabella II. 1833-1868. 2 Pesos 1868, Manila. Fast FDC. (Philippines, Isabella II, 1833-68, two pesos of 1868, manila mint. About uncirculated.)"

The Philippines were conquered by Spain in the late 1500's. Other than introducing Christianity, the colonizers made little effort to develop the islands which gradually fell into the hands of the friars. Manila was important only as a way station on the route from China to Mexico and whatever coins were used there were derived therefrom. Crude, locally produced copper coins were issued c.1798-1835 and in the 1830's large quantities of Latin American pesos were counterstamped "F.7" or "Y.II" for local circulation. Finally, about 1860, a reforming government in Madrid sent the resources to reorganize the Manila mint and modern coinage began. These included gold one, two and four pesos (struck 1861-68). An 1868/6 overdate is noted for the year.

Recorded mintage: 48,000 plus 304,000 restruck 1869-73.

Specification: 3.38 g, .875 fine gold, .119 troy oz AGW (same weight as a Mexican one escudo), this specimen 3.36 g.

Catalog reference: Schl. 18, Fr-2; KM-143.

Source:

  • Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 7th ed., Clifton, NJ: Coin and Currency Institute, 2003.
  • Basso, Aldo P., Coins, Medals and Tokens of the Philippines, Menlo Park, CA: 1968.
  • Ganzon de Legarda, Angelita, Piloncitos to Pesos, A Brief History of Coinage in the Philippines, Manila: Bancom Development Corporation, 1976.
  • Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1801-1900, 7th ed., Iola, WI: Krause Publications, 2012.
  • [1]Richter, Jürg, Auction 46, Gold Coins and Medals, Zurich: Sincona AG, 2018.

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