12/08/2025
The Philippine Coinage Act of 1903, passed by the U.S. Congress, standardized Philippine currency by replacing the Spanish–Filipino silver pesos and Mexican reals then in circulation. Between 1903 and 1906, U.S. mints in San Francisco and Philadelphia began producing coins that combined local symbols with American governance. In 1907, due to rising silver prices, the U.S. colonial government reduced the silver content of the peso from 90% to 75%, a move that sparked controversy among Filipinos who viewed it as a loss of value. The 1907 One Peso coin features on its obverse a standing Filipino woman holding a hammer beside an anvil, symbolizing industry, with Mayon Volcano in the background and the inscription “ONE PESO.” The reverse bears the U.S. coat of arms with an eagle and shield, the words “UNITED STATES OF AMERICA,” the year 1907, and a mint mark indicating its place of production.
Reference:
Yeoman, R. S., A Guide Book of United States Coins: The Official Red Book (Whitman Publishing, 1946 and later editions)
P.S.:
According to R. S. Yeoman in A Guide Book of United States Coins: The Official Red Book (Whitman Publishing, 1946, later editions), the Philippine-issued one-peso coins underwent a notable change starting in 1907: the earlier large-type 1903–1906 coins (38 mm, 26.96 g) contained 90 percent silver, whereas the smaller 1907–1912 “small-type” series (35 mm, 20 g) were produced with reduced silver content (75 percent).
As shown in the picture, it appears that the mint mark S stands for San Francisco (other coins may bear P for Philadelphia and M for Manila).
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