History of the
1904 One Peso
"The total issue of Philippine silver coins made at Philadelphia in 1904 was 11,355 sets. None of these were struck specifically for circulation.
Sold at the mint throughout the year was a total of 1,355 sets. These were struck on order and were regular Proof issues. Another 10,000 sets were officially ordered by Farran Zerbe (widely known numismatist, later a president of the American Numismatic Association) to be placed for sale at the Philippine Exhibit held as part of the Louisiana Purchase Exposition in St. Louis during 1904. The first striking of his order for 10,000 set may have been proof like in quantity and appearance, but the majority of them were struck as Uncirculated coins. Of the 10,000 sets delivered for sale at St. Louis, there remained unsold 6,746 sets. There were sent to the Philippine Treasury in Manila where another 500 sets were sold; the rest were placed in circulation as ordinary coins".
Source/Reference: Page 32 - United States Territorial Coinage for the Philippine Islands by Neil Shafer
https://babel.hathitrust.org/cgi/pt?id=mdp.39015034960933&view=1up&seq=34&q1=1904 . . .
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