The Washington times., 1903-07-03
NEW PHILIPPINE COINS
FOR NUMISHATISTS
Proof Sets of Island Cur
rency Put on Sale.
UNCLE SAM AS A MERCHANT
Seven Pieces in Each Set obtainable
in Washington at Bureau of In
sular Affairs, War Department.

Washingtonians who have an eye for
the curious and who possess a greater
stock of coin Of the realm than they
REQUIRE for personal comfort in the dog
days, can find brand new way OF get
ting rid OF it-that is. they can get 81
cents worth of brand new silver for
81 and have more than 81. OF worth of
amusement out Of their curious neigh
bors
This great opportunity is spread be
fore the people of the National Capital
through the forethought Of the Bureau
OF Tnsular Affairs of the War Depart
nent. in formulating orders relative to
The issue of the new Philippine frac-
tionai currency
In order 10 put the currency of the
Philippine archipelago upon a more sta
bic basis, with coins guaranteed by the
United States and redeemable III gold
instead OF in the huctuating rate % sill
yer exchange. the new coins were de-
termined upon by the United States
Government. As Is customary in the
issue of new coins by the Government
a limited number of complete sets were
struck of proofs" for sale to any
one paying the price. They are usually
Snapped up quickly by numismatists.
Tor whose benefit a special treatment Of
the die is arranged. giving the coins
CLASSY bright finish instead of the usual
duu surface Of the coins intended for
general circulation.
One Thousand Sets for Sale.
This same plan has been followed by
the Bureau OF nsular Affairs in setting
apart 1000 sets of the new Philippine
silver series. The complete set num-
bers seven pieces. the highest denomi-
nation being the peso, which the United
States Government viii redeem in the
Philippine Islands at so cents, and
which it is intended shall become the
unit of circulation. The peso Is about
the same size as our own dollar and
contains silver bullion OF about the same
value. :.
The design Of the coin is almost
severely plain. on one side appearing
the words zone Peso. Filipinas." sur
rounding a female figure representing in
dustry. and on the other the shield aud
spread eagle and the words United
States OF America" =" with the date. The
other coins are the 5O-ceutavos piece
(half a Deso) and silver pieces repre-
sentrng 20 and 10 centavos The other
three pieces. representing 5, 1, and one
half centavos. are OF bronze. the last
named coin closely resembling an
American cent
How to Circulate New Coin.
Apart from the sets which have been
put on sale for the use OF collectors Of
coins. all the newly minted currency
is shipped out of the country to the
islands as soon as il is turned out. So
far about 100000 Of the new coin has
been sent 10 the Philippines. but none
OF il. has yet been pat Into circulation
1t is expected that Che process OF getting
the new coins into circulation will not
be begun until September.
Just how this will be accomplished
seems TO be q doubtful point. and it is
generally expected that there Will be
some little difficulty in making the new
coin take the place of the old Spanish
coinage and the Hongkong dollars and
'Mexicans" to which the people have so
long been accustomed. But as the new
currency Will be secured by a gold re-
serve Tor the redemption Of the pesos.
and as the new currently viii therefore
have fixed gold value. doing away
with the endless nguTing OF exchange
incident TO the fluctuations Of the price
Of silver, 81 is thought that an early
adoption Of the new medium Of exchange
will follow it's introduction next fall.
In Washington the coins are obtain
able at the Bureau Of Insular Affairs.
IN New York at The Office Of the Guar
anty Trust Company. fiscal agents for
the United States in the Philippine
archipelago