Work Preference of 3rd Yr. Tourism Students from Selected Universities in Metro Manila
No sooner had the Philippines won its independence from Spain when it was again engulfed in a historic conflict with a new and formidable invader. By April 1, 1901, the United States had exacted an oath of allegiance from Aguinaldo, thereby ending the First Philippine Republic. In the midst of monetary chaos and depletion, Congress passed the 1903 Coinage Act for the Philippines, establishing a new monetary system based on the gold standard. Beginning 1903, in San Francisco and Philadelphia, silver coins of 1 peso, 50, 20 and 10 centavos and base metal coins of 5, one and half centavo were issued bearing the name "FILIPINAS" on one side and "UNITED STATES OF AMERICA" on the other. The half-centavo soon proved to be inconvenient and was withdrawn from general circulation by 1904. Due to the significant increase in the value of silver, the larger denominations suffered a reduction both in size and fineness by 1907. On July 15, 1920 the Manila Mint opened its doors and took over the production of Philippine coins.
Not long after the issuance of the Conant coins, silver prices started to rise, the bullion market became frantic and silver coins were being smuggled out of the country in massive quantities. To stem this monetary blood-letting, the American authorities discontinued the minting of the peso by early 1906 and decided to recall these coins in order to re-coin them into reduced sizes (308.64 grains) and lesser fineness (.750 fine). As a result of this recall and re-coining, very few of the original 201,000 1906-S Pesos probably managed to survive the melting pot as they are now RARER than the SCARCE 1904 (P) Peso which originally had a lower mintage of only 11,355. The 1906-S Peso is thus the RAREST and, particularly in high grade, the most sought after among the U.S.-Philippine coins.The 1906-S Peso featured here in ALMOST UNCIRCULATED state (Uncirculated pieces have been reported but not verified) is the most popular and desirable of the series and is
Not long after the issuance of the Conant coins, silver prices started to rise, the bullion market became frantic and silver coins were being smuggled out of the country in massive quantities. To stem this monetary blood-letting, the American authorities discontinued the minting of the peso by early 1906 and decided to recall these coins in order to re-coin them into reduced sizes (308.64 grains) and lesser fineness (.750 fine). As a result of this recall and re-coining, very few of the original 201,000 1906-S Pesos probably managed to survive the melting pot as they are now RARER than the SCARCE 1904 (P) Peso which originally had a lower mintage of only 11,355. The 1906-S Peso is thus the RAREST and, particularly in high grade, the most sought after among the U.S.-Philippine coins.The 1906-S Peso featured here in ALMOST UNCIRCULATED state (Uncirculated pieces have been reported but not verified) is the most popular and desirable of the series and is