The 1915 Panama Pacific International Expo and 5 Unique Coins
The 1915 Panama-Pacific International Exposition was an event held to celebrate the opening of the Panama Canal but also to show the world that San Francisco had fully recovered from a devastating earthquake nine years earlier. Held from February 20th to December 4th (1915), more than 19 million people visited the Exposition.
This exposition was going to be the world’s largest international exposition since the World’s Columbian Expo in 1893. Accordingly, the country prepared for this and no expense was spared. On the numismatic side, not only would the US Mint prepare a Silver Half Dollar coin, but there would also be a $1.00 gold coin, a $2.50 gold coin and to make the coins really spectacular two $50.00 gold coins, the highest coin denominations ever struck to that time and the only octagonal coin as well. Few of the coins would be struck at San Francisco’s Mint, not far from the exposition grounds, but many more would be struck at the Exposition itself, and they would be offered with various versions of official packaging that would rival that of official gifts to dignitaries.
The Panama-Pacific International Exposition Commemorative Half Dollar was designed by Charles Barber for the obverse and George Morgan on the reverse. The obverse of the coin depicted a full body of Miss Liberty (not Columbia as the Red Book states), facing left, scattering flowers as held in a basket by a cherub standing behind her. An abbreviated description of the exposition name surmounts her “PANAMA-PACIFIC EXPOSITION.” The sun is rising on the Golden Gate (the land area not the bridge which was not yet built), below that is a wave motif and the date is below that “1915”.
The George T. Morgan reverse displayed an American eagle, not unlike that used on the silver dollar that bears his name. It is standing on a shield representing the country. There is an oak branch on one side of the shield and an olive branch on the other, perhaps in reference to World War I which was underway in Europe but without the involvement of the United States. Around the reverse periphery was the legend “UNITED STATES OF AMERICA” and below the denomination “HALF DOLLAR” at the very bottom. The prescribed motto “IN GOD WE TRUST” was placed above the eagle.
The half dollars were issued in oversize imprinted paper envelopes, with a description of the coin and the exposition on it. About 5,000 were issued that way but most envelopes did not survive or were thrown away.
The $1.00 gold commemorative coin was designed by Charles Keck and it depicts a man wearing the type of cap that a Canal worker would typically have worn. He is facing the left with the inscription “UNITED STATES OF AMERICA” and the date “1915” in front of him. The reverse depicts two dolphins swimming in a circle with the mintmark “S” and the denomination “ONE DOLLAR” between them. Around the periphery is “PANAMA-PACIFIC EXPOSITION” and “SAN FRANCISCO” surrounding the dolphins. It also was issued in a paper envelope but in smaller numbers – probably 1,000 or so.
The $2.50 dollar gold coin is an interesting coin in that it has a great deal of mythological symbolism. It was designed by Charles E, Barber who definitely showed some creativity with the design. The reverse was designed by George T. Morgan who created yet a different eagle motif. The obverse depicts Columbia riding side saddle and facing backward on a mythological hippocampus (combination of horse and sea dragon). She is holding a caduceus which symbolizes the medical achievements against malaria and yellow fever during the Canal’s completion. The legends “PANAMA-PACIFIC EXPOSITION” and the date “1915” encircle the devices.
The reverse depicts an eagle (Morgan’s contribution) standing on a military standard, which is traditional of Roman influence, and on which is inscribed “E PLURIBUS UNUM” and the denomination “2 ½ DOL.” is below. These $2.50 gold coins were also distributed in paper imprinted envelopes.
The two most magnificent Panama-Pacific Exposition coins are, unquestionably, the two $50.00 gold coins struck. The largest denominations ever struck (until modern bullion coinage) are arguable, the most beautiful coins ever struck. The coins were struck in two design shapes – round and octagonal.
Designed by Robert Aitken, he chose the Greek Goddess Minerva for the obverse. She is wearing a crested battle helmet, pushed back on her head – signaling that she is not ready for war. She is wearing a suit of mail, which can be seen in small part on her. She has a shield by her side on which is inscribed “MCMXV (1915).” The legend “UNITED STATES OF AMERICA” and the denomination “FIFTY DOLLARS” encircling the periphery.
On the reverse is an owl, an ancient symbol of wisdom, seated on a pine bough. Pine cones are to her right as she faces left-center. The legends “PANAMA-PACIFIC EXPOSITION – SAN FRANCISCO” are around the periphery and the motto “E PLURIBUS UNUM” is behind the owl.
The only other difference beyond the shape of the coin is the addition of eight swimming dolphins encircling both the obverse and reverse borders. These two large and expensive gold coins were sold, individually, as a set of two, and with all five coins from the silver half dollar through the two fifty-dollar gold coins. You could buy them in small leather boxes to hold all five coins, in a glass-enclosed copper frame to hold a single five-coin set, or in a copper frame that was designed to hold two complete sets.
The coins were again sold by coin dealer and promoter Farran Zerbe. The half dollar sold 27,134 coins, the one-dollar gold sold 15,000 specimens and the Two and half-dollar gold coin sold only 6,749 examples. The two fifty-dollar gold coins sold 483 for the round type and 645 for the octagonal.
| Denomination | Original Mintage | Number Melted | Net Distribution | Unc Value |
| Half Dollar | 60,000 | 32,866 | 27,134 | $2,500 |
| Gold Dollar | 25,000 | 10,000 | 15,000 | $1,750 |
| Quarter Eagle | 10,000 | 3,251 | 6,749 | $6,000 |
| $50 Octagonal | 1,500 | 855 | 645 | $250,000 |
| $50 Round | 1,500 | 1,017 | 483 | $250,000 |
Expand your collection today and shop for a 1915-S Gold $1.00 Panama-Pacific.
