Own Any Philippine Coins? They Could Be Worth Up to $1 Million

Have you checked your pile of change recently? If you’re lucky, it may contain a rare or valuable coin. Who knows? You could even find a U.S.-Philippines coin, which can be worth up to $1 million!

While it’s unlikely that you’ll find one of the ultra-rare — and ultra-valuable — coins sitting forgotten in your change, even some of the more common U.S.-Philippines coins routinely sell for thousands . Here’s a closer look at data from CoinValueLookup about these unique historical artifacts and why they’ve become so sought-after .

Discover More: 8 Rare Coins Worth Millions That Are Highly Coveted by Coin Collectors

Try This: 6 Unusual Ways To Make Extra Money (That Actually Work)

Sponsored: Protect Your Wealth With A Gold IRA. Take advantage of the timeless appeal of gold in a Gold IRA recommended by Sean Hannity.

Why Are US-Philippines Pesos Worth So Much?

The Philippines became a U.S. colony in 1898. The U.S. Mint in Philadelphia began producing these coins soon after, in 1903.

The U.S. Mint designed these coins to be binational. One side of the coin shows a Filipina Lady Liberty, while the other features a U.S. bald eagle and shield. These were crafted with extreme detail, which has put them amid the most beautiful surviving coinage from that era.

At the same time, very few early-era U.S.-Philippines pesos still exist. Many were melted down for their silver content, while others were lost at sea or severely damaged by weather. The Japanese invasion of the Philippines during World War II also contributed to the scarcity of these coins.

Today, collectors are willing to pay a ton for U.S.-Philippines coins for exactly these reasons. The coins are beautiful and rare, which makes them a wonderful addition to a serious collection.

Read Next: I’m a Bank Teller: 9 Reasons You Should Never Ask for $2 Bills From the Bank

1907 Proof Peso

You probably don’t have this coin. It’s an early “proof,” which means it wasn’t made for circulation as currency, but rather to serve as a model for the future coins the U.S. Mint would create.

Very few of these valuable proof coins have survived to the present day. In fact, there are only two in total from the year 1907. That’s why a collector was willing to pay just under $1 million for one in 2018.

1907-S Peso

Maybe you don’t have an original-proof version of the 1907 U.S.-Philippines peso. But you could have a version of it designed for circulation. These are still valuable — one in mint condition sold for $15,600 in 2019.

Keep in mind that only a small percentage of the coins are in good-enough condition to be graded as mint. But even if yours isn’t, it could still be worth several thousand dollars.

1918-S Allen-4.08b Mule

In coin collecting, errors often add value through scarcity. A mint makes a mistake in production, creating coins that don’t feature the right front and back images. It catches the mistake and stops making the coins, leaving only a handful for collectors to fight over years later.

That’s exactly what happened with the 1918-S Allen-4.08b Mule. Its front features the image of a seated man used on 20-cent coins, while the back has the design of the five-cent coin. Collectors love high-quality versions of this coin because of its unique backstory and scarcity. One in excellent condition sold for $41,125 in 2014.

1906-S Peso

When the U.S. began producing Philippine coins, it made them with the same silver quantity as an American silver coin called the Morgan. However, the Morgan was worth twice as much as the U.S.-Philippines peso in that era, so the U.S. Mint decided to redesign the Philippines peso with a lower silver quantity to make it cheaper to produce.

This means the majority of the 1906-S pesos were melted down for their silver content. Now, they’re very scarce, and collectors are willing to pay top dollar for the high-quality version. For example, someone purchased a 1906-S peso in good condition in 2020 for $43,200.

1905-S Peso

There are two versions of the 1905-S peso, which have slightly different design elements. The rare Allen-16.06a version has a Filipina Lady Liberty with squared-off feet, while the more common version, Allen-16.06, features curved feet. However, both versions are worth quite a bit for their rarity. For example, a “cheaper” curved-foot version of the coin in mint condition sold for $60,000 in 2022.

What To Do With Your Rare Coins

If you find rare coins like these in your collection, you may want to cash out as quickly as possible. But it’s important to follow the right process. Doing so will help you maximize your profits.

That means starting by getting the coin graded through a reputable company. You can also bring your coins to an appraiser to see how much they’re worth. Then, put them up for auction online to appeal to the widest range of collectors possible.

This article originally appeared on GOBankingRates.com : Own Any Philippine Coins? They Could Be Worth Up to $1 Million