| Our Price: |
$124,850.00 |
| CU Value: |
$125,000.00 ** |
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OCTAGONAL. PANAMA PACIFIC. GEM SATIN LUSTROUS SURFACES. ONLY 645 STRUCK.
The Panama-Pacific Commemorative $50 gold coins were designed by Robert Aitken. The obverse depicts a left-facing portrait of the goddess Minerva (or Athena) wearing a Greek helmet pushed over the back of her head to signify peaceful intentions. The motto IN GOD WE TRUST is present above and the date MCMXV is inscribed on the top of the shield that Minerva carries. Around the border are the legend UNITED STATES OF AMERICA and the denomination FIFTY DOLLARS. (The octagonal pieces, but not the round ones, also display an inner border of dolphins on both sides.) Among other things, Minerva was the goddess of agriculture, horticulture, spinning and weaving. All of these skills are important to the economy of California, which played host to the 1915 Panama-Pacific Exposition for which these coins were struck.
On the reverse, Minerva's owl-an important emblem of watchfulness given the fact that World War I was raging in Europe at that time-is perched atop a branch of ponderosa pine. Arranged around the border are the inscriptions PANAMA-PACIFIC EXPOSITION and SAN FRANCISCO. The Latin motto E PLURIBUS UNUM is present in the field behind the owl, as is the mintmark S for the San Francisco Mint.
The authorizing act of January 16, 1915 allowed the Mint to strike 3,000 Pan-Pac Fifties: 1,500 in round format and 1,500 in octagonal format. The price asked for these coins during the Panama-Pacific Exposition ($100 each, which included the Pan-Pac Half Dollar, Gold Dollar and Quarter Eagle at no extra charge) meant that many attendees could not afford to purchase an example. The $50 gold pieces were also sold in the complete five-coin Pan-Pac commemorative sets ($200/set) and the complete double sets ($400/double set).
Although Farran Zerbe continued to offer these coins well after the Pan-Pac Exposition closed, overall sales remained disappointing and a sizeable number of coins were shipped back to the Mint for melting after November 1, 1916. In the case of the $50 octagonal, 855 examples were destroyed, leaving a net mintage of only 645 pieces. Even more round pieces were melted, probably because the design (read: shape) of the octagonal examples proved more interesting to contemporary buyers.
Today, the round variety is rightly recognized as the rarer of the two Pan-Pac Fifties. Interestingly, there are a few more high-grade round pieces extant than there are octagonal, but both varieties are conditionally challenging and typically offered with abrasions, slidemarks and/or other signs of mishandling. Even Choice representatives can be elusive from a market availability standpoint, and Gems are nothing short of rare.
| Grading Service: |
PCGS |
SKU: |
139982 |
| Grade: |
MS 64 |
Cert Number: |
40274294 |
The Panama-Pacific Commemorative $50 gold coins were designed by Robert Aitken. The obverse depicts a left-facing portrait of the goddess Minerva (or Athena) wearing a Greek helmet pushed over the back of her head to signify peaceful intentions. The motto IN GOD WE TRUST is present above and the date MCMXV is inscribed on the top of the shield that Minerva carries. Around the border are the legend UNITED STATES OF AMERICA and the denomination FIFTY DOLLARS. (The octagonal pieces, but not the round ones, also display an inner border of dolphins on both sides.) Among other things, Minerva was the goddess of agriculture, horticulture, spinning and weaving. All of these skills are important to the economy of California, which played host to the 1915 Panama-Pacific Exposition for which these coins were struck.
On the reverse, Minerva's owl-an important emblem of watchfulness given the fact that World War I was raging in Europe at that time-is perched atop a branch of ponderosa pine. Arranged around the border are the inscriptions PANAMA-PACIFIC EXPOSITION and SAN FRANCISCO. The Latin motto E PLURIBUS UNUM is present in the field behind the owl, as is the mintmark S for the San Francisco Mint.
The authorizing act of January 16, 1915 allowed the Mint to strike 3,000 Pan-Pac Fifties: 1,500 in round format and 1,500 in octagonal format. The price asked for these coins during the Panama-Pacific Exposition ($100 each, which included the Pan-Pac Half Dollar, Gold Dollar and Quarter Eagle at no extra charge) meant that many attendees could not afford to purchase an example. The $50 gold pieces were also sold in the complete five-coin Pan-Pac commemorative sets ($200/set) and the complete double sets ($400/double set).
Although Farran Zerbe continued to offer these coins well after the Pan-Pac Exposition closed, overall sales remained disappointing and a sizeable number of coins were shipped back to the Mint for melting after November 1, 1916. In the case of the $50 octagonal, 855 examples were destroyed, leaving a net mintage of only 645 pieces. Even more round pieces were melted, probably because the design (read: shape) of the octagonal examples proved more interesting to contemporary buyers.
Today, the round variety is rightly recognized as the rarer of the two Pan-Pac Fifties. Interestingly, there are a few more high-grade round pieces extant than there are octagonal, but both varieties are conditionally challenging and typically offered with abrasions, slidemarks and/or other signs of mishandling. Even Choice representatives can be elusive from a market availability standpoint, and Gems are nothing short of rare.
During World War I, submarines emerged as a pivotal technological advancement, fundamentally altering naval warfare. These underwater vessels revolutionized military strategies by disrupting enemy supply lines and naval operations, showcasing the power of stealth and surprise beneath the ocean's surface. The introduction of submarines not only challenged traditional naval tactics but also highlighted the importance of innovation in modern warfare.
In the realm of chemistry, 1915 witnessed a different kind of innovation with Thomas Lyle Williams' introduction of Maybelline mascara. This cosmetic breakthrough marked a significant development in cosmetic chemistry, transforming the beauty industry and offering new possibilities for enhancing one's appearance. The creation of Maybelline reflected a fusion of science and aesthetics, demonstrating how chemistry could revolutionize personal care and self-expression.
Furthermore, the establishment of the National Advisory Committee for Aeronautics (NACA) in March laid the foundation for advancements in aeronautics and space exploration. This precursor to NASA paved the way for groundbreaking discoveries in aviation and aerospace technology, shaping the future of human exploration beyond Earth's boundaries.
Additionally, Georges Claude's patent of the neon discharge tube for advertising signage in January showcased the intersection of science and commercial applications, illuminating cities with vibrant neon lights and revolutionizing visual communication in urban landscapes.
These developments in submarines, chemistry, aeronautics, and lighting underscored a period of diverse scientific and technological progress that left a lasting impact on society and warfare.
(1903-1926)
The gold Classic Commemorative series is a short, but challenging set. There are 13 different issues, but two—the Round and Octagonal Panama-Pacific fifty dollars—are rare and valuable. High grade examples of all early gold commemoratives are elusive and very desirable.
The first United States gold commemoratives were issued in 1903 for the Louisiana Purchase Exposition, held the following year. Two varieties were struck: one with a bust of Thomas Jefferson, president at the time of the Louisiana Purchase, the other with William McKinley, the president who approved the exposition. A mintage of up to 250,000 gold dollars was authorized, but at $3 a piece the number sold was far lower. Each issue had a final distribution of 17,500 examples, and in 1914 the remaining lot of 214,000 coins was melted.
Although the 1903 Louisiana Purchase Exposition coins were a mixed success, another commemorative gold dollar was issued in 1904 and 1905 for the Lewis and Clark Exposition held in Portland, Oregon. These coins had the same authorized mintage as the 1903 gold dollars, but the distribution was even lower—approximately 10,000 each for the 1904 and 1905.
Undoubtedly the most famous gold commemoratives are those issued for the 1915 Panama-Pacific Exposition, which was held in San Francisco to celebrate the completion of the Panama Canal the previous year. Congress authorized a silver half dollar and four gold pieces: a one dollar, a quarter eagle, an octagonal fifty dollar, and a round fifty dollar. The two fifty dollar gold pieces are the largest coins ever issued by the United States and are highly prized today.
The next gold commemoratives were dollars issued in 1916 and 1917 to help pay for the McKinley Memorial in his birthplace of Niles, Ohio. Another gold dollar was issued in 1922 for the Grant Memorial. The final gold Classic Commemorative was struck in 1926—a quarter eagle to celebrate the sesquicentennial of the Declaration of Independence.
In all, 13 different gold commemoratives, including varieties, were issued as part of the Classic Commemorative series. Nine of these are gold dollars, two are quarter eagles, and two are fifty dollars. Distributions range from a low of 483 pieces (1915-S Round Fifty Dollar) to a high of 46,016 (1926 Sesquicentennial $2.50). While many of these, save for the two fifty dollars, can be easily collected in low grades, most are very rare in Gem and higher grades. The two fifty dollars are usually not collected because of price, and many collectors try to complete an 11 coin gold Classic Commemorative set.
Coin Descriptions Provided by Numismatic Guaranty Corporation (NGC)
