1906-S Philippine Peso (MS63 PCGS) was sold for a significant price of $156,000.00 in an auction that ended in August 2024

The numismatic world turned a little quieter — and a lot richer — in August 2024 when a famously elusive coin, the 1906-S Philippine One Peso (KM-168), graded MS63 by PCGS, sold for $156,000 in a Heritage Auctions sale. That result didn’t just reflect a single enthusiastic bidder: it shattered expectations for business-strike examples of the 1906 San Francisco-mint peso and reaffirmed this coin’s status as the “king” of U.S.-Philippine coinage. 

Why this particular coin matters

The 1906-S peso sits at the top of the U.S. Philippines series in both mystique and market value. Produced at the San Francisco Mint late in the series (the U.S. Mint struck Philippine silver pesos for circulation between 1903 and 1906), the 1906-S is scarce in collectible, problem-free condition. Surviving examples are few and many survivors show issues that earn them “details” grades from the major services, which leaves truly attractive, numerically graded mint-state pieces in extraordinarily high demand. For these reasons, collectors commonly call the 1906-S the “King of Philippine Pesos.” 

The coin and its grade

The August 2024 offering was certified MS63 by PCGS, a strong mid-Mint State grade that indicates a coin with only minor distractions from full mint luster and eye appeal. In pieces this rare, an MS63 can represent one of the finest problem-free survivors known — and therefore commands a dramatic premium. The lot description also referenced the standard cataloging identifiers for the issue (KM-168 and Allen 16.08), helping serious collectors and researchers confirm which variety and die state were offered. 

Auction context and result

Heritage Auctions listed the coin as Lot 4484 in its ANA U.S. Coins Signature Auction in mid-August 2024; the lot page records a hammer/resulted price of $156,000 on August 14, 2024. PCGS immediately updated its CoinFacts and auction-record pages to reflect the result, noting the winning amount and the sale date in its registry of market records. Contemporary coverage and auction wrapups cited the coin as a marquee result from the Byron Milstead Collection that was featured in the sale. 

What the price represents

That $156,000 figure is meaningful for several reasons. First, it establishes (or re-establishes) a new public auction benchmark for a business-strike 1906-S in a clean numeric grade — a reference point dealers, auctioneers, and collectors will use when pricing similar pieces. Second, the sale underscores how scarcity at the high end of a series (not merely low mintage figures) drives market dynamics: when a marketable, well-preserved example appears at auction, multiple serious collectors will often compete aggressively. Third, such headline prices help bring attention to the wider series — sometimes prompting renewed interest in lower-grade or problem-free examples, as well as in detective work to find more survivors in cabinets and estates. 

Design and historical notes

The 1903–1906 “large type” pesos (which include the 1906-S) were created as a bi-national coinage: the obverse features a standing allegorical figure of the Philippines (holding a hammer beside an anvil with Mayon Volcano in the background) and the reverse shows an American eagle above a shield — symbolic of the colonial relationship in that era. The obverse design is credited to Filipino engraver Melecio Figueroa, while the general die work involved U.S. Mint engravers. That mix of Philippine imagery and U.S. national iconography makes the coins fascinating to both Filipino and U.S. collectors and historians. 

What collectors should know

If you collect U.S. Philippines coins, the key takeaways from the sale are practical as well as emblematic. Practically: provenance, third-party grading, and strong photographs matter enormously when these coins cross the block — even tiny surface issues or attributed problems will swing value by tens of thousands of dollars. Symbolically: the trade is healthy for high-quality, rare world coins — serious money still chases supreme rarity and originality in today’s market. Auction houses and registries (PCGS, NGC, Heritage) will inevitably use the August 2024 sale as a touchstone when cataloging and pricing similar pieces going forward. 

In short, the August 2024 $156,000 bid for a PCGS MS63 1906-S Philippine peso was more than a big number — it was a market commentary. It confirmed this coin’s almost mythical standing among collectors and created a market benchmark that will echo through future catalogs, dealer price lists, and registry sets for years to come.

Might be far fetched, but let the hunt begin ;-)

Cheerio!