Serious coin for coins
A CEDULA (tax certificate) from the Philippine revolution of 1896, a 1766 Barilla coin minted in Manila, a four-real Mexican coin from the 19th century, and an eight-real coin from the short-lived Iturbide Empire brought excitement to The Westin Manila during Minted MNL’s Summer Show and Auction.
BusinessWorld visited the numismatics (the study of currency and medals) show on March 8, where collectors brought out their wares, including medals, coins from almost every era in the Philippines and globally, and memorabilia from times past: this included a collection of 1900s cigarette wrappers from the Philippines, another seller brought watches.
While this was Minted MNL’s second year to hold shows (last year had the Summer Show and the year ending show in November), the highlight of the day was the auction which was held both live and online, with buyers sending in their bids through the Moreton auction platform. Some of the buyers, though bidding online, were nearby: there were loud whoops heard from the exhibition section of the ballroom when the Isabel II four-real coin sold for $41,000. The most expensive item sold that day was the eight-real coin from the Iturbide Empire of Mexico, the first independent government of Mexico, which existed only between 1821 to 1823. This coin sold for $72,500. Yes, dollars.
Last year’s summer show attracted 1,500 visitors — this year’s drew about 3,000. We noted a number of foreign guests, which Minted MNL founder Sigrid Carandang pointed out was due to the rare coins to be found in the Philippines: more than our own money, colonizer and occupying forces left their own currencies here, besides printing unique bills and minting unique coins to manage a piece of the empire. These include rare pieces from the Spanish Empire, the US, and the Japanese Empire; not to mention money from our Asian neighbors.
“We want to make sure that Minted MNL is not just a platform, but a gateway to the world — in terms of the passion for the arts, the hobby of collecting, and learning more about history and the preservation of it,” said Ms. Carandang during a group interview.
The company was founded in 2016, and is positioning itself as an auction house especially for numismatics. A fan of local auction houses Salcedo Auctions and Leon Gallery, Ms. Carandang notes that their specializations are in art, and Minted is trying to carve a niche of its own. That said, while she says those auctioneers are at par with global standards, she notes that the Philippine market for numismatics needs to step up. Having attended coin shows like the Hong Kong Coin Show and the ones in Orlando and New York, she said, “We’re far behind.”
The historical items (such as the aforementioned cedula) either come from the collection of antiquarian Melvin Lam (as mentioned in the catalog) or are authenticated by him. Mr. Lam has done authentication work for both Salcedo Auctions and Leon Gallery, the National Museum of the Philippines, and has exhibited part of his collection at the Ortigas Foundation Library.
As for the coins, Minted’s focus, these are authenticated by the coin-grading body Professional Coin Grading Service and the Certified Collectibles Group through their Asia offices in Hong Kong.
“We buy items not just because it’s rare, or it’s a gold or silver coin. We buy items because of the story and the historical significance,” said Ms. Carandang.
For more information, visit mintedmnl.com. — Joseph L. Garcia
