1915-S $50 Panama-Pacific 50 Dollar Octagonal MS64+ PCGS....

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1915-S Pan-Pac Fifty Dollar, MS64+
Iconic Octagonal Gold Rush Inspiration

1915-S $50 Panama-Pacific 50 Dollar Octagonal MS64+ PCGS. Ex: Simpson. The first coinage of Panama-Pacific fifty dollar gold pieces was delivered on May 28, 1915. The coins were struck in a special ceremony at the San Francisco Mint, utilizing a fourteen-ton hydraulic medal press that had been shipped there from Philadelphia for this sole purpose. An account in August 1915 issue of The Numismatist stated:

"The coining of the first $50 gold piece ever authorized by the Government of the United States was made a notable occasion at the United States Mint at San Francisco. The Superintendent of the Mint, Hon. T.W.H. Shanahan, extended invitations to representatives of the Government, State and city, officers of the Exposition, together with notable representatives of various foreign governments and members of the American Numismatic Association, in all to the number of about eighty, to witness the production of not only the first $50 piece, but the first coin of octagonal shape to be produced by Government authority."

The first coin struck was presented to Panama-Pacific International Exposition President Charles C. Moore. Upon seeing the piece, Moore stated:

"It means pride and profit to us. Don't forget that double 'P' -- Pride and Profit. There is pride for us in the minting of this coin by the Government in commemoration of the Panama-Pacific International Exposition and profit in the premium to be paid. Numismatists will seek these coins with zeal."

A premium indeed -- the coins were offered for sale during the Exposition at a cost of $100, or twice face value. Only the most well-heeled fair-goers purchased examples, and in the end, Farran Zerbe ended up trying to market the coins to wealthy bankers, with limited success. In the end, of the 3,000 pieces struck in total, only 483 round and 645 octagonal coins were distributed. The remainder were melted at the Mint.

This Plus-graded Choice octagonal example displays rich satin luster and straw-gold patina. The devices are well struck, and only a few minor marks are evident on the vast, glistening surfaces of this hefty gold commemorative.(Registry values: P7)

Coin Index Numbers: (NGC ID# BYLX, PCGS# 7452, Greysheet# 10216)

Weight: 83.59 grams

Metal: 90% Gold, 10% Copper

View all of [Important Selections from The Bob R. Simpson Collection, Part V ]

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