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| Issuer | Philippines |
|---|---|
| Year | 1834-1837 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Diameter | Log in to see details |
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| Shape | Round |
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| Obverse description | Log in to see details |
|---|---|
| Obverse script | Log in to see details |
| Obverse lettering | Y • II • VARGAS S 1812 S 3 |
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| Mintage | ND (1834-1837) - Host coin 1811-1812. |
| Additional information |
The Philippine countermark series on Mexican 8 reales emerged from a chronic shortage of locally struck coinage — the Manila mint had closed in 1829, leaving the archipelago dependent on foreign silver. Spanish colonial authorities solved the problem cheaply: acquire circulating Mexican pillar and portrait dollars, punch them with the castle-and-lion countermark under royal cipher, and re-issue them as domestically authorized currency at a small premium.
Forgeries of the countermark appeared almost immediately and were sophisticated enough to fool contemporary officials.