Two Issues to Honor the 100th Anniversary of the Louisiana Purchase
René-Robert Cavelier, Sieur de La Salle, was a French explorer who, in 1682, navigated the Mississippi River to its mouth. La Salle claimed the area around the river for France and named it Louisiana in honor of King Louis XIV. This vast area would become increasingly important as the United States expanded. By the middle of the next century, the French and British were embroiled in the French and Indian War, which resulted in France losing much of its territory.
Napoleon came to power in France in 1799 and sought to sell French-held land around the Mississippi River to the United States to help fund efforts to suppress the Haitian Revolution. This parcel of French-claimed land contained approximately 828,500 square miles. France and the United States negotiated terms, and it was agreed that the United States would pay France $15 million for the land. The Louisiana Purchase Treaty was signed on April 30, 1803, and the acquisition effectively doubled the size of the United States.
As the 100th anniversary of the purchase approached in 1903, the United States began planning an exposition to honor the centennial. In 1901, President William McKinley signed into law a bill authorizing the Louisiana Purchase Exposition. Later that year, McKinley was assassinated at the Pan-American Exposition in Buffalo, New York.
Given McKinley’s support for the exposition, when commemorative gold coins were authorized, two different $1.00 gold coins were approved. Rather than issuing a single coin honoring President Thomas Jefferson, who oversaw the Louisiana Purchase, a second coin was struck honoring the late President William McKinley. These became the first commemorative gold coins issued by the United States government.
Design Details
In 1902, the Chief Engraver of the US Mint, Charles E. Barber, went to work on the designs. No one knows which design he created first, but the Jefferson design has a portrait of President Thomas Jefferson facing to the left. Around Jefferson is the motto “UNITED STATES OF AMERICA.” On the reverse is the legend around the periphery “LOUISIANA PURCHASE EXPOSITION ST. LOUIS.” The denomination “ONE DOLLAR” is in the upper half of the central field, and the dates “1803 – 1903” are in the lower half, separated by an olive branch.
The design for the President William McKinley Gold Dollar is identical, except that the portrait of President William McKinley replaces President Thomas Jefferson’s bust.
Coin Distribution
Coin dealer and numismatic promoter Farran Zerbe distributed these coins to fairgoers and by mail. The price of each gold coin was $3, and the coins were the same price regardless of whether they were intended as jewelry. Zerbe went on to become the American Numismatic Association’s President and was responsible for distributing the 1915 Panama-Pacific International Exposition coins.
Specimens of each design were struck in a proof finish, mounted on cardboard with presentation certificates, ornately framed under glass, and presented to favored insiders and Mint officials. They were not available to the public at any price at the time. The certificates were signed by Superintendent Landis and Rhine R. Freed, the Chief Coiner of the Philadelphia Mint. The coin was placed in a holder with a wax-paper window, through which it could be seen. They were secured in place with a string that bore the US Mint’s wax seals. Expand your collection today and shop our collection of U.S. classic gold commemorative coins.
