Have you ever heard of Mule Coins from the Philippines?
I stumbled upon an eBay listing about them and recently got my hands on a 1928-M 20C labeled "Mule." It got me curious to learn more about these unique coins.
So, what exactly is a "Mule" coin? Well, in the coin world, a mule is an error coin made by using mismatched dies during the minting process.
In the case of Philippine mule coins, there are three known types: the USPI 1918-S 5C, the 1928-M 20C, and the latest 1944-S 50C. Something to understand is the sizes of the regular 1903-1928 5C and 1907-1929 20C coins. The regular 1903-1928 5C measures 21.28mm, while the 1907-1929 20C is 20.90mm, resulting in only a 0.38mm difference. This tiny difference means that the coin dies could be easily interchangeable, intentionally or unintentionally. For the 1944-S 50C however, it has the same size as the 1907-1921 50C with 27.6mm.
The 1918-S 5C minted in the San Francisco Mint with the reverse of 1907-1929 20C is presumed to have been minted by mistake due to the lack of other references; this coin is rare and hard to find for collectors.
As for the 1928-M 20C, it's a fascinating story. Due to the high demand for 20 centavos in 1928 and the delayed arrival of the required dies from the U.S., the Manila Mint altered a 1927 5C to produce the 1928-M 20C. It resulted in a unique coin with a reverse of a 1927 5C; you will often see this coin labeled 1928/7. The Manila Mint produced one hundred thousand pieces to meet the demand.
For the 1944-S 50C, this was only known last November 2019 when PCGS published their article titled "PCGS Recognizes 1944-S 50c U.S. Philippines Obverse of 1907-1921 Mule". And it's included in the book U.S.P.I with a note "Lava Flow, 1921 obverse die". However, the PCGS article didn't specify which 1907-1921 coin was used.
So, how can we identify these mule coins? The NGC Collectors Society provided some helpful tips for identification. When you check the reverse of a regular 5C or 20C coin, you notice differences in the date size and shield width. The reverse of a mule 1918-S 5C has a wider shield width and smaller date size, and a mule 1928-M 20C has a narrower shield width and a broader date size in its reverse.
For comparison, check out the following photos from PCGS Coinfacts; you can spot the difference.
In contrast with the 1918-S 5C and 1928-M 20C, the mule part of a 1944-S 50C is on its obverse. The PCGS article published last November 2019 provides good details on spotting the four differences between a regular 1944-S 50C and a mule 1944-S 50C with an obverse of 1907-1921 50C.
The 1918-S 5C is rare and valuable, while the 1928-M 20C is more readily available due to its high mintage. The value of these coins can vary based on their condition. Check out the following links for references:
For the 1944-S 50C mule price guide, from the book USPI, the value of AU53 is $20, and an MS65 is $70. Compared with the 1918-S 5C and 1928-M 20C, the 1944-S 50C mule is cheaper.
Check your collection; you might have one of these unique mule coins!
Happy Collecting!
Sources:
Editors Note: This post was originally published 10 hours ago and has been updated for accuracy and comprehensiveness.
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