The Philippines were transferred from Spain to the United States in the Treaty of Paris (1898), which closed the Spanish-American War.
The Tydings-McDuffie Independence Act of 1934 granted the Philippines Commonwealth status. The Act provided for complete independence of the islands in 1945 after 10 years of self-government under U.S. supervision.
The obverse was designed by Melecio Figueroa and features an adolescent male native seated at an anvil and holding a hammer in his right hand. In the background is the Mayon volcano, with billowing smoke coming from the crater, located on the main island of Luzon. On the upper periphery of the coin is the denomination “FIVE CENTAVOS” and on the lower periphery is the word “FILIPINAS”.
The reverse design features an eagle perched atop a shield of stars and stripes. On the outer periphery are the words “UNITED STATES OF AMERICA” and the year of issue. To the left of the year may be a mint mark “M” Manila or “S” San Francisco. Coin with no mint marks were minted at the Philadelphia Mint.
General Market Notes
The key to the series is the 1916-S issue with a mintage of only 300,000.
For a sleeper coin look for a 1904 issue, it has a mintage just over a million but it drastically priced below other issues with a similar mintage.