It's the 110th Anniversary of the 1915 PanPac $50 gold commemorative
HalfDime
Posts: 171 ✭✭✭
It is the 110th Anniversary of the 1915 PanPac $50 commemorative
This is another iconic coin that the mint produced that has commanded strong interest from collectors due to its beauty and rarity. It is the $50 Round PanPac gold coin released to commemorate the Panama-Pacific Exposition in 1915. They also did an Octagonal version that sold 645 coins, vs the 483 coins sold of the round version. Why did such a beautiful commemorative coin sell so poorly in 1915?
The 1915 Panama-Pacific Round Gold $50 coin sold poorly for several reasons:
High cost: The coin was priced at $100 during the Panama-Pacific Exposition, which was prohibitively expensive for most attendees.
Limited appeal: The round version was less interesting to buyers compared to the octagonal shape, which proved more popular due to its unique design.
Economic factors: The high face value of $50 during that time period made it unaffordable for many potential buyers.
Low demand: Overall sales for these commemorative coins were disappointing, leading to a significant number being returned for melting after the exposition ended.
As a result of these factors, only 483 of the original 1,510 Round $50 gold coins minted were actually sold to the public, with the remaining pieces being melted down. This low distribution has made the 1915 Panama-Pacific Round Gold $50 coin one of the rarest and most valuable commemorative coins in U.S. numismatic history.
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Many people would love to buy a 110th anniversary of the PanPac gold coin in 2 1/2 ounce silver. The mint currently makes 2 1/2 ounce silver medals that have a 2 inch diameter (these are popular and sell-out rather quickly).
Comments
Very cool, love the owl!
I wouldn't be surprised if the US mint decides to do a 110th Anniversary commemorative for this. Because hey, 110 years.
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I think the octagonal version is nicer, because of the shape, and the dolphins.
You probably know the obverse is very similar to the Corinthian stater.
I wonder if the dolphins were inspired by the Syracuse decadrachm.
so, you're saying it's possible to corner the market
Nice. I only have the octagonal version.
I remember reading one of the coin magazines back in the 1960's that had an article where a mint employee that worked at the mint from the early1930's was interviewed. He said he remembered seeing Pan-Pac Expo $50 gold coins being dumped into the melting pot along with other gold coins confiscated by FDR.
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
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It would be nice to have a restrike bullion program where you had the Pan Pac $50, $2.50 and gold $1 along with a silver half dollar are restruck. To distinguish the originals from the restrikes you can have them oriented with a medal turn vs a coin turn which the originals were. It would be the best bullion coin program as all the coins would be dated 1915 and there would be coins struck regularly without a change in date. Austria does this with Maria Theresa Thalers.
I remember my dealer friend had a complete 5 piece set in the original velvet case of issue for $35,000 back in 1973. Very cool!