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Sale 47
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Lot 4491
1915-S Panama-Pacific Gold $50 Round. PCGS graded MS-62 PQ. Only 483 coins struck. Always in demand. Lightly toned. For the date, a lovely satiny pale golden toned example with smooth luster on both sides free of handling signs. Attractively struck as well, with just a hint of softness in the texture of the field luster whose diminishment from full vah-vah-voom! brilliance we assume limits the grade from being a few points higher.
Breen and Swiatek mention that "During the months of June, July and August, the gold fifties were coined… According to Slabaugh, after the first 62 round fifties were coined, the dies broke in striking the 63rd -- as did the remaining pairs of dies then on hand. Coinage had to be delayed until more dies arrived from Philadelphia.
"The authorizing act specified 3,000 fifties: 1,500 each of the octagonal and round types. Sales went well enough to convince the authorities to strike the entire authorization, with 9 extras reserved for assay of the octagonal type, 10 extras of the round. However, the high prices of these coins severely limited the numbers to be sold. According to Exposition price lists, a single $50 coin could be had for $100, but this price entitled the buyer to the half dollar, dollar and quarter eagle free of additional charge.
"The complete five-piece sets (including both fifties) cost $200 -- the buyer's choice of copper frame or leather case again free of extra cost. A complete double set, mounted to show both obverse and reverse, cost $400 for the ten pieces and their copper frame. This could be obtained in hinged or unhinged versions."
An historic offering of this coin weighing-in at a full two and one-half ounces, the largest gold piece both in size and denomination ever issued by the United States (PCGS # 7451) .
Estimated Value $55,000 - 60,000.
Ohringer Family Trust Holdings.
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| Realized $63,250 |
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