Lot 1456
1915-S Panama-Pacific Gold $50 Round. NGC graded MS-65. A gorgeous untoned example. Only 483 pieces struck. The Panama-Pacific International Exposition $50 round is one of the most incredible coins ever envisaged -- and that it was offered for sale made it a milestone event in American numismatics; the coin is replete with symbolism, although the symbolic nature is mostly lost on the current generation of numismatists. Stuck at the brink of America's involvement in the European "Great War," the Greek helmet is lifted back on Minerva's head in a ready but not fully combative pose, similar to the helmeted head seen on the famous Corinthian staters of ancient times featuring Pegasus the flying horse. The owl on the reverse signifies watchfulness.
With respect to the coin's overall condition, this is a resolutely gorgeous Gem example! No question about it: one of the few full MS65s we think deserves a lasting impression on anyone who has the good fortunate to view it in person at lot viewing. Many collectors young and old dream of owning such a solid Gem $50 Round of this type. Now is your opportunity. The surfaces are immaculate, which is only to be expected given the Gem MS65 grade. The luster envelops all areas in a smooth, bright, satin-filled embrace. This coin has clearly been carefully handled "with kid gloves" as it were since the day it was sold to some fortunate buyer back in nineteen-and-fifteen. Extremely desirable in such Gem condition. Watch the action mount as bidding progresses! Pop 44; 23 finer, 1 in 65 star, 19 in 66, 3 in 67.
The Panama-Pacific International Exposition: In 1915 visitors from all over the world converged on a veritable new city that had been built of lath and plaster on the San Francisco shore front. Building upon the tradition established by the 1876 Centennial Exhibition (Philadelphia), 1892-1893 World's Columbian Exposition (Chicago), the 1900 Paris Exposition, the 1904 St. Louis World's Fair, and other such events, the Panama-Pacific International Exposition showcased marvels of technology, art, history, and science.
After the event ended, nearly everything was torn down. An exception was the Palace of Fine Arts, which, while never intended to be a permanent structure, survived to be used to store fire engines and other municipal equipment. In recent times it has been restored. This building in 1915 was the numismatic focal point of the Exposition. Under its huge dome was Farran Zerbe's Money of the World exhibit and, after the fair's closing, his concession to sell the remaining Panama-Pacific coins by mail order.
America's fairs and expos usually revolve around a theme. For 1915, the fair organizers paid tribute to the discovery of the Pacific Ocean (1513) and the completion of the Panama Canal (1914) as the dual anchor points 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, especially of the two $50 gold denominations, are a challenge 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 $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 American gold coins in 1933. We estimate there are 200 or so of the round $50 pieces remaining.
Estimated Value $100,000 - 110,000.
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