1977 Franklin Mint Matte finish coins

When the Franklin Mint began making Philippine coins (in 1975) it made each of their coins in three varieties, one being their "Proof" set, with deep cameo features on a brilliant smooth background, another being their "Specimen" or "Brilliant Uncirculated" variety which is shiny all over (no frosted or cameo effect), and the third being a creamy "Matte" finish, sometimes presented as their "business strike." In the Krause catalog these three varieties are specified with (P), (U), and (M), respectively. The same three varieties also were made in 1976. By 1978 however, the Matte (M) variety was no longer in production, reducing the varieties to two. What is not clear is 1977. The Krause catalog lists Matte (M) varieties for all 1977 denominations, and furthermore at the generous mintage of 10,000. Yet I have never seen even a single such coin, even one, let alone had any opportunity to purchase one.
It is my theory that there are no 1977 (M) Franklin Mint coins for the Philippines and never were. It is claimed (in Krause) that a mere 341 sets of brilliant uncirculated sets were made, but this number seems far too small given the ready availability of 1977 (U) Franklin Mint coins. Krause used to work closely with the Franklin Mint, even publishing special catalogs of their stuff (not only coins but spoons and dolls and so forth). I believe that the 10,000 reported "Matte" "business strikes" reported by the Franklin Mint were actually struck as brilliant uncirculated (U) coins identical to those in the 341 sets of (officially) those coins.
But the supreme possible test of that theory is this: HAS ANYONE EVER SEEN A MATTE FINISH (M) 1977 FRANKLIN MINT COIN OF ANY DENOMINATION? Would at least a picture of such exist? I don't think anyone has, or that any photo of any such exists, but here is one more chance to be proven wrong.