Mule Coins of the Philippines: Rare Errors with a Twist of History
- My Koyns
- Sep 19, 2024
- 3 min read
Updated: Jul 28
Have You Heard of Mule Coins from the Philippines?
I recently stumbled upon a listing on eBay for a "mule" coin from the Philippines—and soon after, I acquired a 1928-M 20 Centavos labeled just that. Curious and intrigued, I started researching what made this coin, and others like it, so special.
So, what exactly is a mule coin?
In the world of numismatics, a mule is an error coin produced by striking a coin using dies that were not intended to be paired together. These mismatched dies—either for different denominations or different time periods—can result in coins with fascinating and highly collectible features.
Known Philippine Mule Coins
There are currently three known mule coins from the U.S.–Philippine period:
1918-S 5 Centavos
1928-M 20 Centavos
1944-S 50 Centavos
Let’s take a closer look at each.
1918-S 5 Centavos Mule
This coin was struck at the San Francisco Mint, but instead of using the correct reverse die for a 5C coin, the reverse die used was for a 1907–1929 20C coin.
Due to the similar size between the 1903–1928 5C (21.28mm) and the 1907–1929 20C (20.90mm), the dies were likely interchangeable—whether by mistake or necessity.
This particular mule is rare and highly sought after by collectors, with only a few known pieces. There's little documentation on how the error occurred, but it remains one of the earliest and most significant U.S.-Philippine mule coins.
1928-M 20 Centavos Mule
The story of this mule is quite fascinating. In 1928, there was high demand for 20C coins in the Philippines, but the dies from the U.S. were delayed. To meet this demand, the Manila Mint modified a 1927 5C die and used it to produce the 1928-M 20C coin.
As a result, this mule features the reverse of a 1927 5C, leading some references to label it as 1928/7. A total of 100,000 pieces were minted. While more common than the 1918-S mule, this coin is still a highlight in many collections due to its unique origin.
1944-S 50 Centavos Mule
This mule was only recognized in November 2019, when PCGS published an article titled “PCGS Recognizes 1944-S 50c U.S. Philippines Obverse of 1907-1921 Mule.”
This error involves using the obverse die from a 1907–1921 50C coin on a 1944-S issue. The result? A hybrid coin with mismatched design eras.
This discovery is relatively recent and is also documented in the book United States Territorial Coinage for the Philippine Islands (USPI), where it’s referred to with a note: “Lava Flow, 1921 obverse die.” However, PCGS didn’t specify exactly which 1907–1921 issue was used.
How to Identify a Mule Coin?
The NGC Collectors Society offers valuable tips for identifying these unusual coins:
1918-S 5C Mule:
Wider shield on reverse
Smaller date size
1928-M 20C Mule:
Narrower shield on reverse
Broader date size
For the 1944 50C, the mule part of the coin is on its obverse, see photo below from PCGS:
Value and Collectability
1918-S 5C Mule: Rare and expensive due to its scarcity.
1928-M 20C Mule: More affordable depending on the condition.
1944-S 50C Mule: Recently recognized and relatively inexpensive.
According to the USPI book, the 1944-S 50C mule is priced at:
$20 in AU53
$70 in MS65
For updated market values, refer to:
Final Thoughts
Mule coins are fascinating not only for their minting errors but also for the stories they tell—stories of unexpected combinations, improvisation at the mints, and discoveries made decades later.
If you’re a collector looking for something truly out of the ordinary, Philippine mule coins offer history, mystery, and a touch of numismatic magic.
Sources & Further Reading:
Editors Note: This post was originally published September 19, 2024 and has been updated for accuracy and comprehensiveness.
Comments