The Republic of the Philippines is an island nation in the southwest Pacific Ocean,
just south of Taiwan. Spanish colonization in the mid-1500s lasted until the United
States victory in the Spanish-American War of 1898. The Filipinos declared independence,
which the U.S. refused to recognize, sparking the Filipino Insurrection. In 1935,
the U.S. started moving the Philippines towards a planned 1945 independence, but
World War II intervened. The Philippines finally gained independence in 1946.
The first silver coins minted in the Philippines were issued in 1864 by Spain. Special
Filipino coins minted in the U.S. replaced Spanish coinage starting in 1903. Rising
silver prices led the coins to be melted by the thousands, leading to a reduction
in silver content to 75% in 1907. Coins were minted in Manila starting in 1920,
with the last U.S.-Philippines coins being minted in 1945. No coins were minted
by the Philippine Republic from independence in 1946 to 1958, with silver coins
returning between 1961 and 1982. Today, the Philippines produces a large number
of silver commemorative coins.