Lot 2837
1915-S Panama-Pacific Gold $50 Octagonal. NGC graded MS-62. Mostly untoned example. Very popular coin. Always in demand. Only 645 examples of this historic issue were sold to collectors in commemoration of the 1915 Panama-Pacific Exposition. The prized few examples that have come down to the present in unimpaired condition are always in demand among collectors. This is an appealing MS62 despite a few hairlines and subdued luster. Both sides are free of sizeable abrasions. What's more, the powerful design is readily appreciable. Needless to say, only a carefully considered bid will obtain this coin for the forward-thinking commemorative collector.
America's fairs and expos usually center around a theme. For 1915, the fair organizers in San Francisco, California paid homage to the discovery of the Pacific Ocean (1513) and the completion of the Panama Canal (1914) as the main anchors for their theme. A series of 5 coins was struck for the occasion, including complete sets mounted in metal frames or leather cases sold for $200. Many sales were made to banks and other novices; for this reason, high grade examples are especially hard to find. The larger the denomination, the harder to locate. Some were also carried as souvenir pieces, in fact. When all was said and done, only 483 Round and 645 Octagonal $50 gold pieces were sold. And it can be assumed (though no separate records were kept in this regard) that numerous specimens in the hands of the public were melted after the federal government seized America's gold coins in 1933. We estimate there are perhaps 300 to 350 in the octagonal format still in existence (PCGS # 7452) .
Estimated Value $45,000 - 50,000.
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| Realized $57,500 |
