Coin Specifications

Category: Gold Commemoratives (1903-1926)
Mint: San Francisco
Mintage: 645
Catalog: KM-139
Obverse Designer: Robert Aitken
Reverse Designer: Robert Aitken
Composition: Gold
Fineness: 0.9000
Weight: 83.5900g
AGW: 2.4186oz
Melt Value: $2797.35 (10/10/2015)
Diameter: 44mm
Numismatic specification data provided by Krause Publications NumisMaster.
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There are no NGC varieties for this coin.

Description & Analysis

The Panama Canal, which remains one of the engineering marvels of the modern age, was completed in August of 1914. To celebrate this achievement, Congress authorized the Panama-Pacific International Exposition of 1915. This Expo, held in San Francisco, was also a celebration of the city’s recovery from the devastating earthquake of 1906. In addition to the expo, Congress authorized a series of commemorative coins honoring the exposition. These were to include a half dollar, gold dollar, $2.5 gold piece, and two different $50 gold pieces; one round, and one octagonal. The bill authorizing these issues was signed into law on January 16, 1915. New York artist Robert Aitkin was selected to design both of the $50 gold pieces. He was a well-regarded sculptor, but had never before designed a coin. His designs, while not inherently American, was a rather successful attempt to obtain classic Greek motifs on modern coinage.

Aitkin’s obverse depicts a left-facing bust of Minerva, the Roman goddess of, among other things, wisdom, skill, and agriculture. She wears a crested helmet, pushed back to signify peaceful intentions—a symbol of American sentiment towards a Europe deeply embroiled in the carnage of World War I. The date appears in Roman numerals—MCMXV—at the top of Minerva’s shield. The entire central design is surrounded by a long and short-beaded motif, also adapted from Greek design. On the octagonal pieces, the central design was smaller, and stylized dolphins were placed in each of the eight corners on both obverse and reverse. UNITED STATES OF AMERICA and FIFTY DOLLARS appear on the periphery of the obverse. IN GOD WE TRUST can be seen above Minerva’s head.

The coins’ reverse depicts an owl perched on a Ponderosa Pine, surrounded by cones. Owls were sacred to Minerva, and the bird is commonly recognized as a symbol for wisdom. The beaded border is repeated again on the reverse, separating the central design from the legends PANAMA PACIFIC EXPOSITION and FIFTY DOLLARS around the periphery. E PLURIBUS UNUM can be seen to the right of the owl.

A special 14-ton press was transported from the Philadelphia Mint to San Francisco to strike the coins. In total, 1,500 of both the octagonal and round were struck. Despite the popularity of the large size and design, only 645 of the octagonal, and 483 of the round were sold. This was likely due to the extremely high cost of the coin. Finding buyers at $100 for a $50 gold coin when wages were low, interest in numismatics was insignificant, and political and economic uncertainty high, was a difficult task at best.


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Price Guide

Last Updated: 7/15/2015

Click on a price to see historical prices, comparison charts and trends.

Base $ - - - 33000 42000 48000 49500 51500 56000 72500 83000 98500 126000 180000 235000 375000 - - -
$ - - - - - - - - 137500 200000 265000 - -

The World Coin Price Guide is independently compiled by Krause Publications’ NumisMaster. NGC makes this information available to its website visitors as a free service, but in no way does the information provided represent NGC’s official opinion or policy. For example, varieties listed in the World Coin Price Guide may not necessarily be recognized by NGC. Please contact NGC Customer Service with any questions.

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Total Graded: 447
Low Grade: 55
Average Grade: 63
High Grade: 67

Upcoming Auctions

Auction Prices Realized

A random selection of coins is shown below.

Auction House
Sale / Lot
11/13/2000 PCGS MS 62   Teletrade Auction 1377, 1377/Lot# 1666 $25,200.00
5/28/2006 PCGS MS 65   Goldberg May 28-31, 2006 Pre-Long Beach Coin and Currency Auction, 36/Lot# 4233 $149,500.00
5/30/2007 NGC MS 65   Heritage Auctions 2007 May/June Long Beach, CA Signature US Coin Auction #438, 438/Lot# 1973 $100,625.00
8/30/2007 NGC MS 64   David Lawrence Rare Coins Thursday Sale - Internet Auction # 173, 179/Lot# 6262 $80,500.00
9/17/2008 NGC MS 64   Heritage Auctions 2008 September Long Beach, CA US Coin Signature Auction #1116, 1116/Lot# 1271 $92,000.00
7/26/2012 NGC MS 64   Stack's Bowers The August 2012 Philadelphia ANA World's Fair of Money Auction, 140/Lot# 11589 $89,700.00
9/23/2013 NGC MS 63   Bonhams Coins and Medals, 20992/Lot# 2104 $76,050.00
7/11/2014 PCGS MS 64   Stack's Bowers iAuction 3490, 6041/Lot# 20788 $98,700.00

NGC Registry

Competitive Registry Sets
Gold Commemoratives 1903-1926 85
Registry Image Gallery
Grade: MS 65
Points: 14416
Owner: RDN
Grade: MS 64
Points: 12757
Owner: PetroKaz
View the Registry Image Gallery

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