1915-S $50 Panama-Pacific 50 Dollar Round MS65 PCGS....

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1915-S Panama-Pacific Round Fifty Dollar
Just 483 Distributed, Just 13 Finer Than MS65

1915-S $50 Panama-Pacific 50 Dollar Round MS65 PCGS. Luminous yellow-gold coloration coats beautifully preserved satiny surfaces. Abrasions are minimal, as the Gem grade suggests, and weakness is nearly absent, only appearing on a few of the owl's breast feathers on the reverse.

The occasion of the first coinage of fifty dollar gold pieces for the Panama-Pacific International Exposition was a memorable one, both for numismatists, government officials, and, of course, Exposition officers with a financial interest in the sale of these historic coins. The following account appeared in The Numismatist, in August, 1915:

"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."

Of course, this passage omitted recognition of the U.S. Assay Office "slugs" of the Gold Rush period, after which the Pan-Pac fifties were fashioned in denomination, size, and shape. In truth, the Pan-Pac fifties were the first such coins issued by an established federal mint, but not by government authority.
The Numismatist's account also focuses heavily on the production of the Octagonal Pan-Pac fifties, with no mention of the Round variant. Admittedly, the ceremonial coinage of the first coins consisted only of the Octagonal variant, but the numismatic media's focus on the eight-sided issue left the round Pan-Pac fifties produced later in the year largely overlooked. That neglect in numismatic press translated almost seamlessly into the sales figures for the two coins to collectors and the public: the Octagonal type absorbed nearly 60% of all single-coin purchases. Numismatic appreciation of the Round type only came later, after sales were completed and excess coins destroyed, and it was discovered that just 483 Round Pan-Pac fifties were ever distributed. Naturally, this is the rarer of the two variants, and is more valuable in high grade.

Pan-Pac fifties are seldom offered in this grade, and PCGS has only awarded nine 65+ grades and four numerically finer certifications in its nearly 40 year history (10/25). This piece will be the cornerstone of a high-end classic commemorative type set. Listed among the 100 Greatest U.S. Coins. Population: 41 in 65 (9 in 65+), 4 finer (10/25).
Ex: Long Beach Signature (Heritage, 10/2021), lot 3633.(Registry values: N10218)

Coin Index Numbers: (NGC ID# BYLU, PCGS# 7451, Greysheet# 10215)

Weight: 83.59 grams

Metal: 90% Gold, 10% Copper

View Certification Details from PCGS