1915-S Panama-Pacific Exposition $50. Octagonal. EF-45 (PCGS). A classic commemorative gold issue offered in attractive Choice EF preservation. Vivid deep olive and brighter orange-gold colors combine to deliver strong eye appeal. Plenty of luster remains, and the design is boldly defined overall. The curiously low (for the type) grade of EF-45 is explained by light high point rub and scattered marks that include a concentration of wispy pin scratches in the left obverse field. These $50 gold commemoratives are enduringly popular in all grades, and the present example is sure to find its way into an advanced collection.