Philippines 1862 2 pesos
The first specimen was lot 50250 in Ponterio sale 168 (Philadelphia, August 2012), where it sold for $2,291. The catalog description[1] noted, "PHILIPPINES. 2 Pesos, 1862. NGC MS-62. Reflective." The second specimen was lot 75333 in Stack's Bowers Collectors Choice sale (Costa Mesa, CA, September 2024), where it sold for $264. The catalog description[2] noted, "PHILIPPINES. 2 Pesos, 1862/1. Manila Mint. Isabel II. NGC Fine Details--Cleaned. Cleaned and fairly worn atop the portrait, but with a clearly visible overdate." This coin is the same weight and fineness as a Mexican one escudo.
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 1862/1 overdate is noted for the year.
Recorded mintage: 236,481 (a common date).
Specification: 3.38 g, 0.875 fine gold, .119 troy oz AGW (same weight as a Mexican one escudo).
Catalog reference: Cayón-17267, Fr-2; KM-143.
- Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 9th ed., Clifton, NJ: Coin and Currency Institute, 2017.
- 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.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
- Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, 2 volumes, Madrid: Cayón-Jano S.L., 2005.
- Calicó, Xavier, Numismática Española: Catálogo General con Precios de Todas las Monedas Españolas Acuñadas desde Los Reyes Católicos Hasta Felipe VI, 1474 a 2020, Barcelona: Aureo & Calicó, 2019.
- O'Connor, Patrick, The Coins of Queen Isabel II of Spain: A Detailed Study of the Coins, Patterns and Medals of Her Reign, San Antonio, TX: Aurora Rarities, LLC, 2017.
- [1]Ponterio, Richard, Ponterio sale 168: The Official ANA Auction, Irvine, CA: Stack's Bowers LLC, 2012.
- [2]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, September 2024 World Collectors Choice Online Auction, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2024.
Link to:
- 1861 2 pesos
- 1862 peso
- 1862 4 pesos
- 1863 2 pesos
- Coins and currency dated 1862
- return to coinage of the Philippines