1915-S $50 Panama Pacific Gold Octagonal Commemorative PCGS MS63 with Box

An extremely rare artifact of the Pan-Pac Expo of 1915, the final surviving mintage of this issue was 645. PCGS has graded 167 in MS63, with 186 finer. This piece comes with its original box. However, this piece is much rarer than the PCGS population figure tells us, for there have been many, many resubmissions at both PCGS and NGC. What tells us that is the total of 1,014 graded specimens combined from PCGS and NGC, when the production totaled 645.

Poster for the Panama-Pacific Exposition of 1915.

To celebrate the completion of the Panama Canal, an engineering marvel of the modern world, Congress authorized the Panama-Pacific International Exposition of 1915. Held in San Francisco, this expo also celebrated the city's recovery from the devastating earthquake and fire of 1906. Congress also authorized the production of a series of commemorative coins to honor the Pan-Pac Expo. Included were a half dollar, gold dollar, a $2.50 gold piece, and two $50 gold pieces, one round the other octagonal.

Renowned New York sculptor Robert Aitkin was awarded the commission to craft the design for both versions of the $50 coin. He had never before designed a coin. His designs were a presentation of classical themes on modern numismatic art. The obverse offers a left-facing bust of Minerva, the multifaceted Roman goddess of wisdom and strategic warfare, justice, law, victory and a sponsor of the arts and commerce. Her crested helmet is pushed back to represent peaceful intentions, symbolic of the American attitude towards Europe's butchery of the 'War to End All Wars' as World War I was known at the time. The reverse presents an owl perched upon a Ponderosa Pine, surrounded by pine cones. The owl was a sacred animal to Minerva and is commonly recognized as a symbol of wisdom.