Panay 1899 centavo
This specimen was lot 21495 in Stack's Bowers ANA sale (Chicago, August 2019), where it sold for $43,200. The catalog description[1] noted,
"Exceptional Panay Revolutionary Centavo, PHILIPPINES. Panay. Centavo, 1899. NGC AU-55 Brown. Obverse: REPUBLICA FILIPINA, crude helmeted head of soldier right; Reverse: UNO CENTAVO / PANAY, crude rayed sun within triangle. A very RARE revolutionary piece and the first that we have offered. The last sales record that we could locate was Heritage sale 187 (Long Beach, June 1998, lot 6056), graded EF and sold without an online photo. Crudely struck, but well detailed and with no signs of corrosion or abuse. Slightly doubled on the reverse, indicative of its hastened workmanship.
Following the Spanish-American War, which saw Filipino rebels successfully cast aside their colonial oppressor with the aid of America, many of those involved on the Filipino side quickly began to distrust the fidelity of their newfound allies, not wanting to trade one monarchy for another. As tensions rose, the Philippine-American War began, lasting three years before officially ending in favor of the Americans. During the war effort, the need existed for a coinage among the rebel forces, with crude and hastily produced issues such as the present specimen being coined. Though very little is known about these enigmatic pieces, famed Filipino author and collector Aldo P. Basso states that they are undoubtedly unofficial issues related to the insurgency movement---a bridge between the Spanish colonial issues which they replaced and the forthcoming American-produced coinage which would supplant them."
This is not the KM plate coin but is nicer in spots. There is doubt as to whether this was actually issued by the rebels or a later fantasy.
Recorded mintage: unknown.
Specification: 27.47 g, 0.931 fine silver, .821 troy oz ASW.
Catalog reference: KM-156; Basso-100.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
- 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.
- [1]Orsini, Matt, Richard Ponterio and Kyle Ponterio, The August 2019 Chicago ANA Auction: World Coins, Santa Ana, CA: Stack's Bowers LLC, 2019.
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