This very rare Spanish-Philippine coin was sold for 15, 500 euros as lot 1083 in the December auction of Cayon Numismatica and is considered as one of the most elusive coins of Philippine numismatic. The coins of one and two cents of weight, minted in Madrid at the hands of Bartolomé Maura, were made by order of 15 December 1893. The Decree refers to “lack of copper currency adjusted to the legal system” which encourages coining full retail.
Shall be “the new pieces of copper one and two cents of weight, equivalent, as the silver 10 and 20 cents, which circulate in the Peninsula (…) Most all of these fractional coins will be legal tender only in the territories that are dependent on the General Government of the Philippines”.
The initiative was just one of the so many in the pipeline, but that Maura, the newly appointed general engraver, left us a few pieces by way of historical testimony. The magnificent bust with riotous hair, appears on these coins, still better than weight. It is perfectly proportioned (especially the two cents) and technically perfect.
It is especially curious that even having the permission of the Crown, coins on the same Islands were not coined under his name and it was even struck in Madrid, marked with a Pentagram. Perhaps because of insecurity or lack of larger machinery (remember the diameters of the cash of the father, 10, 20 and 50 cents, and clear, 4 weights) where carry out works such as these that we present. We assume that he just followed the guidelines given in the Royal Decree of December 15, 1893: “…Article 1.
It is authorized the temporary opening of the Casa de Moneda de Manila, for the coinage which are necessary in the territories of the Government General of the Philippines, without prejudice of the Casa de Moneda de Madrid, to use when it’s convenient to the best service…”and”…Section 3.
This will be limited for now, fractional silver coin in 50, 20 and 10 cents of weight parts and bronze coin adjusted to the decimal system in parts one and 2 cents of weight…”
According to estimates, these coins exist only in two values, with no more than ten or twelve mintages. Preserves the archaeological museum in Madrid two parts of a penny and three two (one of them Sastre collection proceeding). These coin has never been in the market in the last decade and was only recorded sold in the Philippines once decades ago.