Philippines under U.S.
Designed by Filipino sculptor Melencio Figueroa, the series has started to gain momentum and long deserved recognition as evidenced by climbing prices (which are mostly still bargains considering their scarcity) in recent years. Beautiful, and still very affordable (at least for the moment) considering their scarcity, these coins tell the story of America’s brief colonial empire at the start of the 20th century. The series contains examples of coins struck at the only U.S. mint ever authorized outside of the U.S. mainland – the Manila Mint. In addition, these coins are distinguished as being America’s only bi-lingual coinage, having the smallest U.S. denomination ever produced, and the first (if not only) series to feature a sitting U.S. President. The complete Philippines set is as AMERICAN as much as it is Philippine and is an integral part of U.S. numismatics.
The U.S. Philippines coins are a unique and important set. They are the only coins ever officially authorized by Congress to be specially struck for a U.S. possession. They are also the only U.S. coins not denominated in dollars. However, they were indirectly dollars, since there was an official exchange rate of 2 pesos to the dollar.
The United States acquired the Philippines as a result of the Spanish-American War (http://en.wikipedia.org/wiki/Spanish-American_War). Although the war ended in 1898, the first U.S. Philippines coins were not struck until 1903. Coinage continued until 1945, except for the years 1923, 1942 and 1943. In 1946 the Philippines were granted independence.
The denominations produced were:
To mark the transition to Commonwealth status in 1935, three commemoratives were issued in 1936:
The only mint ever established by the United States outside of the lower 48 states was established in Manila in 1920. An "M" mint mark indicates coins made in Manila. In 1920, the Manila Mint produced a medal, known as a "Wilson Dollar", to celebrate the mint's opening.