Listed as very scarce amongst collectors, this galleon medal was minted to commemorate the 4th centenary anniversary of Philippine-Mexico relations, and was minted in 1964 which was declared the “Year of the Mexican-Filipino Friendship”. Both countries shared a history as colonies of the Spanish Empire and were key trading points in the hugely prolific Manila-Acapulco Galleon that lasted for over two and a half centuries starting the First Half of the 16th century. Mexico and the Philippines were so economically tied, that not only did they share mintage and certain currencies; they also had a defined route that the galleon ships took that connected both colonies.
These medals were minted under the presidential terms of Diosdado Macapagal of the Philippines and Adolfo López Mateos of Mexico.
Literature: Coins, Medals, and Tokens of The Philippines 1728-1972 by Aldo P. Basso. p. 160 Philippine Medals and Token by Earl D. Honeycutt, Ph.D 1780-2015