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 Quiapo Coin Prices

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al.plata

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PostSubject: Quiapo Coin Prices   Mon Mar 07, 2011 8:00 am

Last week I bought several pieces of silver coins from Mr. Restituto Velasco at Quiapo. He is called Mang Totoy to most of us, and he was there for several decades already and probably you bought some coins from him also. I used to accompany my friends from the provinces during my college days (1970s), to sell some silver coins to him (at only Ten to Twenty Pesos then). Last week when the silver was 32 dollars an ounce I sold to him some ugly 1907 silver pesos at P650 and got a Fine 1910 silver peso for P800. I can not tell prices for today (silver rose again) but I will see later this week. Wish we can meet and compare things when you get here. I use to keep my ugly coins then, but now that I have retired from work and rely only on my pension, I decided to slowly sell my ugly coins mostly bought earlier on an average cost of P350 per small peso. Thanks.
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PostSubject: Re: Quiapo Coin Prices   Mon Mar 07, 2011 9:50 am

can't believe it. totoy still there at quiapo. said hi to him. most of my coins were bought from him during 1980-83. he is surely one of the cheapest. now my philippine-u.s. silver coins were only few hundreds that i bought from manila. i never have a change to buy and sell philippine silver coins since then. but i have 30,000 u.s. coins now instead. p.s. i really miss totoy and the philppines. i miss chating with him on those coins.

silver break the record high again at $36.47 an ounce. while gold reached a high at $1,439.20 an ounce.


Last edited by tracy1947 on Mon Mar 07, 2011 11:23 am; edited 6 times in total
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PostSubject: Re: Quiapo Coin Prices   Mon Mar 07, 2011 10:09 am

so you are more senior than me in this coin field. during early 70's. when i was also in college. i remembered i sold a roll of uncirculated 1945 fifty centavos at a store at c.m recto ave. at that time. i really don't know about the prices and collection. i sold to that guy at 3 peso each. 20 pc for 60 peso. i was very happy. then the next day. i sold many circulated silver assorted peso to him at the same price. then i realized i make a mistake. the new one suppose to be more expensive. anyway. what i can i do.

i also bought some from alex and cesar at mabini. a young handsome guy during that time. and also some other coin stores at mabini. like an american owner nearby alex. a chinese owner who passed away and his wife continue his business. well sorry. i forgot their names. opps other collectors like albino and escano (attorney).

o.k. so much for that. good night. i have to go..........


Last edited by tracy1947 on Tue Mar 08, 2011 9:22 am; edited 2 times in total
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al.plata

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PostSubject: Coins   Mon Mar 07, 2011 2:34 pm

There were a lot of coin dealers at Quiapo and Sta Cruz areas then. But now there are just a few. I remember that Mang Totoy moved from place to place within Quiapo area. I consider myself new in this field, I inherited some good silver coins but it got lost because in my young days, it do not matter much. I concentrated on this hobby just last year when I retired from work. Nowadays the coin dealers at Mabini are very expensive and I hardly go there. The friendly Mr. Albino still maintains a store there but it seems that he sells only to foreigners because one time I was there and he told me to attend the coin auction but I saw a tourist buy some coins. Atty Escano owns a store at Mega Mall (4th floor) and another at SM North (Parking Bldg, ground floor). Still around at Recto near Mendiola is (Ray) De Jesus Novelty Store (this is also a very old site), there are good coins there at reasonable prices. The most well known nowadays is the JC Coins and Anitiques operated by the handsome Jun Cuartero at Greenhills, San Juan.
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PostSubject: Re: Quiapo Coin Prices   Mon Mar 07, 2011 7:08 pm

thanks. wow. things have changed. are they still trading 1907s and 1903s peso at near bullion value?. how much is the buy and sell right now from totoy. 1907s peso?. 1903s peso?. assorted peso before 1945s?. give me a based silver price. and then those coins and prices involve. today. it will be another silver and gold breaking record day. silver highest is $36.79/oz. gold high $1,445.20/oz.
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PostSubject: Re: Quiapo Coin Prices   Mon Mar 07, 2011 10:29 pm

let's based on the high today at $36.79/oz. and the exchange rate at 43.25 to a dollar. i know sometimes they have no buyers. the b.v. will be trading at a lower price or discount. right?.

bullion value: 36.79/oz x 43.25/$ x .5144 oz. = 818.50 peso for 1907s-1912s silver peso.

bullion value: 36.79/oz x 43.25/$ x .7800 oz. = 1,241.11 peso for 1903s-1906s silver peso.

bullion value: 36.79/oz x 43.25/$ x .7600 oz. = 1,209.29 peso for 1961-1974 commemorative peso. based on average silver content.

bullion value: 36.79/oz x 43.25/$ x .8148 oz. = 1,296.48 peso for 1975-1981 commemorative 50 peso.

bullion value: 36.79/oz x 43.25/$ x .4019 oz. = 639.49 peso for 1975-1982 commemorative 25 peso.

wow. i remembered buying 1974 (25 silver peso) at 45.00 during 1983. but i was very dump that i sold 10 peso each for those 1963-64 silver peso during 1970's. and have to buy back 60 peso during early 1980's. well. now it's worth at least 1,210.00 peso. see what had happened to our peso. it was devalued so much since i left. it's good it was improved from a high around 56.00:1 up to 43.25:1.
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PostSubject: Quiapo Coin Prices   Tue Mar 08, 2011 9:56 am

The prices here do not follow the rates you enumerated because of the local trends are very unpredictable. Last week when silver was at 32 dollars per ounce, Mang Totoy sells the small peso for P800 and the big peso for P1200 (the melting coins he sells for less, if he do not know you for P700 and P1000). Now that silver is around 35D (wow) I do not know how much the price will go up. I talked with a jeweler and he tells me that most silver here are sourced locally from Chinese traders who melts the old coins. The imported true silver bullion are costlier since it has a guaranteed Fineness and pays taxes and duties, thus cost more than the price in the world market. But this information is denied by some jewelers while others confirm it, I am not sure which is which.
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PostSubject: Re: Quiapo Coin Prices   Tue Mar 08, 2011 10:27 am

explain more on this one. mang totoy sell 1903s for 1,200.00. but if he doesn't know you. he sell lesser at 1,000.00. why lesser for a person whom you don't know him?. suppose to be higher.

o.k. everything here is based on $32.00 per ounce. and the exchange rate is 43.25 peso per dollar.

in u.s. the buying for 1903s will be $30.00 (1,298 peso) and selling at $36.00 (1,557.00 peso) from VG to VF condition. it should be in line with commom date morgan dollar dated before 1921.

please reply and thanks.
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PostSubject: Quiapo Coin Prices   Tue Mar 08, 2011 12:00 pm

Ah, there is buying and selling of coins, collectible coins and coins for melting (ugly coins no one would like to collect) the collectible small peso coins I paid for P800 and the ugly coins I sold for P650 (this was last week). For melting coins he sells P700 (small peso) and P1000 (big peso) for friends, some people buy it for melting and converting to jewelries and adornments, costlier for others. I found out early last year that most of my collections are ugly coins (full of scratches, dents, stains, and all kinds of damages, etc..). Now I am trying to improve the collection by buying beautiful coins, mostly from friends and collectors. It is very hard to get good coins from dealers...
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PostSubject: Re: Quiapo Coin Prices   Tue Mar 08, 2011 12:38 pm

so in short:
1907s peso ugly - buying 650.00, selling 700.00.
1907s peso better - buying 650.00, selling 800.00.

1903s peso ugly - buying 900.00, selling 1,000.00
1903s peso better - buying 900.00, selling 1,200.00.

correct me if there is wrong there. thanks.
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PostSubject: Quiapo Coin Prices   Tue Mar 08, 2011 2:44 pm

The prices were for last week when silver was 31 going to 32, I do not know for today, silver is very high at 35D and they usually adjust prices here everyday.
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PostSubject: Re: Quiapo Coin Prices   Tue Mar 08, 2011 7:50 pm

more realistic should be: based on $32.00/oz.

1907s peso ugly - buying 650.00, selling 700.00.
1907s peso better - buying 700.00, selling 800.00.

1903s peso ugly - buying 1,000.00, selling 1,050.00
1903s peso better - buying 1,100.00, selling 1,200.00

tell me if you have new prices from mang totoy. and also indicate what day?. what is the exchange rate?. and what is the spot silver price on that day?. thanks.

ps. the price for 1903s-05s silver peso at VF and XF should be very high now. i should estimate VF at $60.00 and XF at $90.00. but again. if they don't know you. they going to buy from you at only $31.00 each regardless of condition. and that will be the exact price that mang totoy sell us at 1,340.00 peso based on $36.10 per ounce at 43.25 to one dollar exchange rate. so. if you buy from totoy and sell it to any american dealers. you can not make a profit. but if you buy from totoy and keep it as a collector and bring it to america. that piece of 1903s silver peso will worth $60..00 (100% profit) on a VF condition. and worth $90.00 (150% profit) on a XF condition. and you can sell it via e-bay and make money too.
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PostSubject: Re: Quiapo Coin Prices   Sun Mar 13, 2011 12:21 am

another question? if i go to the philippines this year or next. can totoy have available many 1903s to 05s and 1907s to 10s pesos? like 100 to 200 piece each. and the condition from very fine and above. or fine and above with all thirteen stars shown. i ask this question. it's because i have been out for so many years. and maybe the philiipine-u.s. silver peso became so few that it is hard to buy them.
please reply and thanks again.
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PostSubject: Quiapo Coins   Sun Mar 13, 2011 6:39 am

Silver USPI Peso coins are available throughout the whole year but unfortunately not as many as you like. On an ordinary day you can get one or two big pesos and six to a dozen small pesos from Mang Totoy. But there are other sources although higher in costs. If you really want it. You better send in some cash and let someone start accumulating the coins so you can take it back with you.
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PostSubject: Re: Quiapo Coin Prices   Sun Mar 13, 2011 1:53 pm

WOW. what a shame?. those beauty 1907s and 1903s pesos were almost disappear. i can't believe it. many might melted at the central bank of the philiipines. because when i was there before i left. the central bank was also a big buyer. and they offered a good price better than outsiders. secondly the jewelry stores were also melting down those pesos. and lastly. many american also bought a lot and bring it to u.s.a. not to mention the big pesos. what about the assorted one. maybe very few were left. thanks again.
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PostSubject: Quiapo Coin Prices   Sun Mar 13, 2011 7:08 pm

I was planning to go to Mang Totoy in Quiapo last Friday but instead I went to JC Coins in Green Hills and purchased a new coin album. Anyway, it is true that you can hardly get good uspi silver pesos nowadays. All you will see are Good to Very Fine grades and once in a while Very fine to Extra Fine. The better coins (Au to Unc) are sold in auctions or in the hands of professional collectors and traders. The cost of little uspi silver coins follow much of the price of the silver pesos. If P1,000 for 1907-1912 peso, then 10c will be P100, 20c will be P200, etc.. Again, its very hard to find better coins, as this has made my attempt to improve my collection almost impossible. I get one or two pretty coins every auction I attend and it will take very long..
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PostSubject: Re: Quiapo Coin Prices   Sun Mar 13, 2011 10:59 pm

i wander Mang Totoy still can survive on this business?. let me analyze him. during early 1980's. let's said. Mang Totoy sold some (average) 100 pc of bullion 1907s peso each day. earned $1.00 on each coin. and 26 days a month. he should earned some 2,600.00 peso a month. (not to mention other items such as large peso, assorted peso, foreign coins and antiques). that's equivalent to my salary before when my position is as a purchasing manager at a large company. after 28 years. now he sold some 10 piece of silver peso average. but earned some 100 peso a piece. that will gave me again around $26,000.00 a month. i think that can be a salary of a manager. right?. not bad for him. simple business and can earn a descent living better than others. i cheer for him.

ps. exchange rate during 1983 is $1.00 to 20 peso.
exchange rate now is around $1.00 to 43.25 peso.
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PostSubject: Re: Quiapo Coin Prices   Mon Mar 14, 2011 12:07 am

what will be the buying and selling prices of 1903s to 1905s pesos VERY FINE condition from Mang Totoy?. and also the buying and selling prices for 1907s to 1910s VERY FINE condition?. thanks.
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PostSubject: Re: Quiapo Coin Prices   Mon Mar 14, 2011 1:25 pm

Yes, but during early 80's the scarce was common compare today that common is rare.
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PostSubject: Re: Quiapo Coin Prices   Mon Mar 14, 2011 6:44 pm

that is true to all classic coinage. mishandled, damaged, cleaned, dipped, toned, lost forever, fire, war, and calamity loss, most distraction to this hobby is melting in huge quantity. this applied mostly to silver coins. while the gold coins are much minimal. that is why the gold coins move up slowly. unless gold price move drastically.
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PostSubject: Quiapo Coins   Fri Mar 18, 2011 3:46 pm

I just went to Mang Totoy at Quiapo this afternoon, just to ask around for his current prices. I sold him a small USPI 1908 silver peso for P720 and he says he is selling it for P730 for melting or P750 to coin collectors. The big peso (1903) he will buy for P900, he will sold to melters / jewelers for P950 and also P930 to coin collectors. He says silver went down after a week of highs (yesterday at 34D). I also brought along 5 pieces of Ten Centavo USPI coins and exchange them for better looking coins and paid him P10 each for consideration of the trade.
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PostSubject: Re: Quiapo Coin Prices   Fri Mar 18, 2011 7:16 pm

thanks al.plata.

wow. what a bargain?. specially the 1903's peso. less 20% on its bullion value. and 1907's. less 5% bullion value. that's mean spot price was down and no buyers from the jewelers. it happened 30 years before. if i was there. i might clear them all. right now the spot price go up to $35.00 from $33.56 few days ago. let's see. i still predicted silver will pass $40.00 and trade between $45.00 to $52.50 this year. specially the later part of the year. gold will then be up between $1,600.00 to 1,700.00 an ounce. i still be a strong buyer.
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PostSubject: Quiapo Coin Prices   Fri Mar 18, 2011 9:28 pm

The coin prices quoted by Mang Totoy of Quiapo was a little absurd, I am not sure, why the prices were that way, but he told me that the local prices are reacting to the increase and decrease of the actual silver prices. Study this, when silver was at 30D, he was buying at P500 a small peso uspi silver coin. then when silver was 32D, he was paying P600, and about two weeks ago, he paid me P650 or P670 (I am not sure, but it is near that), that is when silver was 33D. Ever since, the prices when going up tends to over react and rises more than its expected value and when silver falls, the prices falls lower than expected. Anyway the coins are not so pretty, so maybe only "melters" are buying and there is talk that there are plenty of silver around nowadays (?).
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PostSubject: Re: Quiapo Coin Prices   Fri Mar 18, 2011 10:03 pm

to al.plata,

o.k. we gonna based fixed exchange rate at 43.25 per peso.

1. when silver is traded $30.00 - totoy bid price is 500.00 peso. that is less 25% on bullion value. or simply no buyers or takers from the smelters. that is the best time to buy it. but not the right time to sell it.

2. when silver is traded $32.00. bid price is 600.00 peso. that is less 15% on B.V.

3. when silver is traded $33.00. bid price is 650/670 peso. that is less 10% on B.V.

4. when silver is traded $34.00. bid price is 720 peso. that is less 5% on B.V. that is not the right time to buy. but the best time to sell.

5. now silver is $35.00. bid price should be 740/750 peso.


Mang totoy prices were the same that of 30 years ago. simply based from local smelters.

well. i know how the prices work in the philippines. it is the same formula used before. thanks al.plata. p.s. it is better before that we can buy many and the prices were low. isn't it?.
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PostSubject: Re: Quiapo Coin Prices   Fri Mar 18, 2011 10:29 pm

philippines 1907s peso at 5% less than bullion value. it will not make a profit by bringing it to the america. right now buying price here is only 8.5% less than bullion value. (we are talking about the ugly coins). that's why we have to wait for 25% less bullion value locally. then buy it. and hope the price will improve in the future.
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