Ron Guth: The U.S. government struck Half Centavos for the Philippines from 1903-1908. In 1903 and 1904, Half Centavos were struck for circulation and as Proofs; from 1905 to 1908, Half Centavos only appeared in Proof sets. The mintage of the 1903 Half Centavoe was over 12 million, thus it is very common today. Uncirculated examples are fairly easy to obtain, including in full Red condition. The majority of the Red examples certified by PCGS fall into the MS-64 grade. The finest examples certified by PCGS (as of October 2011) are 2 MS-67s.