1928-M U.S. Philippines, Mule 20 Centavos MS Allen-11.18, FS-901 Values

Greysheet & Red Book® Price Guide
Melt: $8.31 (0.0964 oz Silver)

Sponsor

shop eBay

Sponsor

shop

Sponsor

shop David Lawrence Rare Coins

Sponsor

shop

Sponsor

shop Stacks Bowers Auctions

1928-M U.S. Philippines, Mule 20 Centavos MS Allen-11.18, FS-901 Values

Details

The reverse features the smaller eagle/shield and larger date typical of the five-centavo piece, rather than the normal twenty-centavo reverse. In 1907 the diameters of Philippine silver coins were reduced to decrease bullion costs. The twenty-centavo piece went from 23 mm to 20 mm, making its diameter very close to that of the five-centavo (20.5 mm). In 1928 the Manila Mint had no reverse dies for normal twenty-centavo pieces, and a reverse die for the five-centavo was put into service. This created a “mule,” as a combination of mismatched dies is known. 100,000 of the coins were minted from this single die pair. They’re valuable not necessarily because of the muling, but because of their low mintage and high collector demand.

up This coin is made of Silver and has a current melt value of $8.31

Reverse: An eagle is portrayed in the center atop an American shield with 13 stars. UNITED STATES OF AMERICA is written around the periphery with the date at the bottom.

Basic Information

GSID:

25937

Coin Date:

1928-M

Denomination:

20c / 20 Centavos

Designation:

MS

Mint & Coinage Details

Mint Location:

Manila

Mintage:

100,000

Coinage Type:

U.S. Philippines Coinage

Coinage Years:

1907-1929

Composition:

Silver

Mint Mark:

M

Varieties and Classification

Variety:

U.S. Philippines, Mule

Variety 2:

Allen-11.18, FS-901

Physical Characteristics

Fineness:

0.75

Weight:

4 gr

Weight:

0.14 oz

Precious Metal Weight:

0.0964 oz

Strike Type:

Business

Diameter:

20 mm

Coin Shape:

Round

Design Details

Designer:

Melico Figueroa

Feedback:

Available on Greysheet Marketplace

View All

Dealer Directory

View All Dealers
Coinfully
FEATURED

Greysheet News

View All News
Greysheet Exclusive Reporting: Semiquincentennial Coins Head to Space
Greysheet Exclusive Reporting: Semiquincentennial Coins Head to Space
5/11/2026

When the next SpaceX Dragon 2 rocket lifts off from Florida, it will be carrying some special cargo.

Second Quarter Dollar Released in 2026 Semiquincentennial Circulating Coin Program
Second Quarter Dollar Released in 2026 Semiquincentennial Circulating Coin Program
5/9/2026

The second quarter dollar in the 2026 Semiquincentennial Circulating Coin Program was released on March 23 at Mount Vernon, the Virginia estate of President George Washington.

The Business of Numismatics: May 2026 Greysheet Editor's Letter
The Business of Numismatics: May 2026 Greysheet Editor's Letter
5/8/2026

Two major auctions featuring a combined 3,892 lots have taken place since the publication of our last issue.

Map icon

DAVID LAWRENCE RARE COINS

Map icon

The Police Athletic League (PAL) Building