Product Details

In late 1941 and early 1942, as Imperial Japanese forces invaded the Philippines, General Douglas MacArthur and local officials sought to prevent the national treasury from being looted. Before surrendering Corregidor Island, millions of dollars in paper money were burned, and approximately 15 to 17 million silver pesos were crated and dumped into the deep waters of Manila Bay. During the occupation, the Japanese forced American POWs and local divers to recover the silver under dangerous conditions. Following the war's end, official U.S. Navy salvage operations retrieved millions more. Because these coins spent decades submerged in saltwater, they exhibit distinctive environmental surface degradation, which is why NGC labels them as "Genuine" with the "Manila Bay Salvage" pedigree rather than awarding a standard numeric grade. Manila Bay salvage pesos are highly sought after by collectors as tangible wartime relics.