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1915 PANAMA-PACIFIC |
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| Republic Monetary Exchange is now offering the complete, five coin Panama-Pacific set containing an MS65 fifty dollar round and MS64 fifty dollar octagonal along with the original box the coins were sold in at the 1915 Exposition.
The Panama-Pacific Commemorative fifty dollar gold pieces were designed in 1915 to commemorate the world fair held that year in San Francisco. Known as the Panama-Pacific Exposition, the 1915 Exposition is often remembered as one of the most stunning and impressive of such expositions held in the United States. Its pavilions that celebrated the latest industrial innovations, artistic masterpieces, and national goods and treasures of the thirty-six participating countries attracted millions of visitors from every corner of the globe during its eleven month duration. The Panama-Pacific Exposition was orchestrated chiefly to celebrate the completion of the Panama Canal the year prior. The idea for a waterway through Central America had been proposed and debated by the Spanish as early as the sixteenth century, but the idea was vigorously rekindled by the United States during the mid-nineteenth century California Gold Rush as shipment of goods and travel increased dramatically. The Spanish-American War of 1898 led to an expanded sphere of U.S. influence in Central America, and in 1902, a Congressional act allowed President Theodore Roosevelt to attain the land and rights to commence the construction of the canal through Panama. When Colombia, the sovereign power governing Panama, rejected Roosevelt's proposal, the U.S. supported a Panamanian revolution and in exchange, the nascent state of Panama granted the project's continuation. The world was entering a new phase of global commerce fueled by industrial revolutions in steel and improved transport of goods, and the realization of the Panama Canal led to a surge of national pride in the United States' position as a powerful, leading figure economically and technologically in an international sphere rife with competing nationalism. The completion of the Canal coincided almost exactly with the outbreak of World War I in 1914. The Panama-Pacific Commemorative fifty dollar gold pieces were the first fifty dollar pieces ever authorized by the U.S. government for use as legal tender. A Congressional act allowed the Mint to strike three thousand Pan-Pac fifties with half being struck in round format and half in octagonal format. In addition, other Panama-Pacific Commemorative gold coins were minted to celebrate the Exposition in denominations of half dollar, dollar, and two-and-a-half dollar. The coins were sold at the Exposition individually and in five coin and double sets. Sales of the coins were poor, however, and many were sent back to the Mint in 1916 and melted down. Only 483 of the fifty dollar rounds and 645 of the octagonals survived. According to NGC population reports, there are currently only 392 graded round types with only 42 graded as Mint-State 65 and 448 graded octagonal types with 163 graded as Mint-State 64. Auction records show that these coins have more than doubled in value over the past ten years, making these coins an exceptional center piece to any collection or portfolio. The obverse of these coins depicts a left-facing profile of the Greek goddess Athena wearing a helmet pushed back over head to signify peace. Athena, as goddess of horticulture and agriculture, represented important sectors of California's economy. The motto "In God We Trust" is inscribed above her head and the date MCMXV is emblazoned on the top of her shield. Around the coin's edge run the words "United States of America" and the denomination "Fifty Dollars." Athena's owl, a symbol of wisdom and watchfulness, is found on the reverse perched on a ponderosa pine. Behind the owl are the inscription "E Pluribus Unum" and the mintmark S (for San Francisco) and the legend "Panama-Pacific Exposition" and "San Francisco" border the edge. These beautiful pieces from a defining period of American and global history are some of the most sought after coins by high end collectors worldwide. For more information contact us at: 877.354.4040 | 602.955.6500 |
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