1915-S Panama-Pacific Exposition $50. Round. MS-63 (PCGS).A beautiful Choice Uncirculated example of this classic rarity among U.S. Mint commemorative coins. Warmly patinated in deep golden-orange, both sides are lustrous with a softly frosted finish from the dies. Smartly impressed with all design elements bold, the surfaces are wonderfully original with just the barest trace of friction over and before Athenas cheek precluding an even higher grade.The obverse of this impressive type depicts Liberty as Athena with her helmet pitched up upon her head in the expected fashion of the Greeks, surrounded by the legend UNITED STATES OF AMERICA above and the denomination FIFTY DOLLARS below. The motto IN GOD WE TRUST is located in the upper left field. For the reverse the designer, Robert Aitken, features a large owl facing nearly forward, perched on a thick pine branch, with large pine cones below and in the background. The motto E PLURIBUS UNUM is tucked into the field behind the owl. Matching the obverse is a round band at the perimeter which notes the name and place of the Exposition. The octagonal pieces, but not their round counterparts, include an extra border with dolphins that symbolize the continuous waterway created by the opening of the Panama Canal.The round version of the Panama-Pacific Exposition $50s did not sell as well as the octagonal style at the time of issue in 1915, hence a greater percentage of the mintage was returned to the Mint for melting. In fact, of the 1,500 round examples struck, only 483 were distributed to contemporary collectors, which paltry total confirms this type as the rarest collectible U.S. Mint commemorative coin. Featured in the popular reference 100 Greatest U.S. Coins by Jeff Garrett and Ron Guth.From the E. Horatio Morgan Collection. Acquired May 1987.
