This coin is in Very Fine to Extremely Fine condition. I grade it a conservative VF30.
On the obverse, a bare chested Filipino man is shown sitting next to the forge of freedom. The blacksmith is built like Adonis – with huge muscles flexed in a spreadeagled pose. His elbow is on the forge, a Thor-like hammer is dangling from his right hand, and his left hand is on his left knee. The guy is staring off into the distance at Mt. Mayon, an active volcano with smoke billowing from the crater. On the upper edge of the coin is the denomination “One Centavo” and on the lower perimeter is the word “Filipinas”. The engraver was Melecio Figueroa.
The reverse design features an eagle perched on a shield with a two register shield. The upper register shows 13 5-sided stars in two rows. The lower register shows 13 vertical bars with stripes and solid bars alternating. This is the Seal of the US Philippine Territories (adopted in 1903). At the upper rim are the words “United States of America” and at the bottom is the year of issue. The mint mark is to the left of the date, below the dot.
Identification code: Philippines KM-163 (1903-1936)
Mint Mark: S (San Francisco)
Country of origin: United States (US Philippines Territory)
Composition: Bronze (95% copper, 4% tin, 1% zinc)
Other details: There is a typo in the 2010 RedBook : instead of 454,000 of these, there were 4,540,000 minted. It isn’t exactly common, but it isn’t vanishingly rare either.
Estimated Value: $3-6 in VF30