Panama–Pacific commemorative coins
Series of five commemorative coins of the United States / From Wikipedia, the free encyclopedia
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The five Panama–Pacific commemorative coins were produced in connection with the 1915 Panama–Pacific International Exposition in San Francisco. Struck at that city's mint, the issue included round and octagonal $50 pieces. Excepting modern bullion coins, these two gold pieces are the highest denomination ever issued and the largest coins ever struck by the United States Mint. The octagonal $50 piece is the only U.S. coin to be issued that is not round.
In January 1915, Congress passed legislation for a silver half dollar, as well as a gold dollar, quarter eagle ($2.50 piece), and two $50 pieces: one round and one octagonal. The Mint had already consulted artists. Treasury Secretary William G. McAdoo initially rejected all their designs. Two of them, Robert Ingersoll Aitken for the $50 pieces and Charles Keck for the gold dollar, persevered, and their submissions were used. The half dollar and quarter eagle were designed by Chief Engraver Charles E. Barber, possibly with the participation of his longtime assistant, George T. Morgan.
The coins were vended at the Exposition by prominent numismatist Farran Zerbe. They did not sell well, and many of each denomination were returned for melting. Only a few hundred of each of the $50 pieces were distributed, making them the lowest-mintage commemorative coins. They catalog for up to $200,000, depending on condition.