1915-S $50 Panama-Pacific, Octagonal MS(PCGS#7452)

November 2019 Baltimore U.S. Coins Auction

拍卖行

Stack's Bowers

批号

3212

等级

MS63+

价格

548,631

详细说明

Premium Choice Mint State Panama-Pacific Exposition $50 Popular Octagonal Format Accompanied by the Original Case 1915-S Panama-Pacific Exposition $50. Octagonal, MS-63+ (PCGS), CAC, with original leather case. Beautiful rose-gold patina blankets both sides of this endearing Choice Mint State example. The surfaces are fully lustrous with a billowy, softly frosted texture from the dies. Smartly impressed, as befits the issue, with an uncommonly smooth appearance for a survivor of this scarce and conditionally challenging type. Obviously handled with greater care than most Panama-Pacific Exposition $50s that have come down to the present day, this original and highly attractive coin is sure to catch the eye of discerning collectors. One of five coin issues struck in association with the Panama-Pacific International Exposition celebrating the rebirth of San Francisco and the opening of the Panama Canal, the octagonal $50 gold shares the same basic design as its round counterpart, but features extra outer borders on both sides, each with eight dolphins that symbolize the uninterrupted waterway created by the opening of the Panama Canal. The San Francisco Mint struck 1,500 examples of each Panama-Pacific $50 type for sale at the Exposition. Due to their different shape and the addition of the symbolic dolphin border, the octagonal pieces proved more popular with contemporary buyers. In truth, sales for both were disappointing, the original asking price of $100/coin proving too steep for most Americans. Attempts to increase sales by discounting the price of the $50s when offered as part of sets with the smaller denomination Panama-Pacific coins did little to improve the situation, and in the end most examples of both varieties were melted as unsold. The distribution for the octagonal proved to be just 645 pieces, greater than the 483 coins for its round counterpart, but still a small total that explains the scarcity of survivors in today's market. Eagerly sought in all grades, we anticipate keen bidder interest in this superior Choice example. Featured in the popular reference 100 Greatest U.S. Coinsby Jeff Garrett and Ron Guth. As with its round counterpart from the E. Horatio Morgan Collection offered above, this octagonal Panama-Pacific $50 is accompanied by the leather case original distributed with the coin at the Exposition. The exterior of the case retains full leather with only minimal rubbing to the edges, yet moderate scuffing to the top and bottom. The hinge and clasp are functional, although the latter does not fully grip the lip when closed. The interior retains bright cloth on the inside of the lid with bold gold lettering to the inscription PANAMA-PACIFIC / INTERNATIONAL EXPOSITION / 1915 - SAN FRANCISCO - U.S.A. / COMMEMORATIVE COINS / AUTHORIZED BY ACT OF CONGRESS / STRUCK AT SAN FRANCISCO MINT. The removable purple insert that once held the coin is present, if a bit tattered and frayed, while the rare printed informational card that fits into the bottom of the case is also included. The card is smooth and tight with only the expected light discoloration for its age; the name TOM has been handwritten at the upper left in pencil. Original Panama-Pacific Exposition $50 cases are rare in today's market regardless of preservation, especially when offered with the coin, as here. (Total: 1 coin; 1 case) Provenance: From the E. Horatio Morgan Collection. Acquired May 1987. PCGS# 7452. NGC ID: BYLX. Click here for certification details from PCGS.