United States 1915-S Panama-Pacific Five Piece Set in Presentation Case

An absolutely remarkable offering of a full set of the storied Panama-Pacific International Exposition coinage in original presentation case, new to market from the collection of the original buyer.

Comprising:

Half Dollar Silver. Mint State.

Numismatic consensus has long held that Charles Barber and George T. Morgan each designed one side of the Pan-Pac half dollar. Complicating the picture, Roger Burdette, in the third volume of his Renaissance of American coinage series, points out that “the designer of the coin has never been conclusively established,” and points to 1930s correspondence from Mint officials claiming that though Barber and Morgan collaborated on the design, it’s unlikely that each designed one side. Irrespective of the specific contributions of the two designers, the Pan-Pac half is a distinctive, attractive coin.

On the obverse Liberty stands by the sea with a cherub, hands outstretched scattering flowers. Numismatic art critics including Cornelius Vermuele point out the design’s similarity to French silver coinage then in production, specifically Roty’s famous “Sower” motif.

The eagle atop the reverse’s shield bears a strong resemblance to the eagle he designed for the reverse of the silver dollar nearly four decades earlier; the whole design clearly takes inspiration from Morgan’s patterns. The example in this set sports attractive, even, dark toning, an appearance typical for this issue.

One Dollar Gold. Mint State.

The gold dollar, designed by Charles Keck, depicts a canal worker, sometimes mistaken for a baseball player on its obverse and a pair of dolphins, representing the Atlantic and Pacific oceans, united by the Panama Canal, on the reverse. Keck, a New York-based sculptor who was an assistant to the legendary Augustus St. Gaudens in the mid-to-late 1890s, would also design the 1927 Battle of Bennington and 1936 Lynchburg, Virginia commemorative silver half dollars. The example included in the set features sharp details and strong luster.

Quarter Eagle. Mint State.

The quarter eagle, like its vastly larger siblings, invokes classical imagery. Designed by Charles Barber, then Chief Engraver at the Mint, the obverse of the Pan-Pac quarter eagle depicts Columbia riding a hippocampus clutching a caduceus in her outstretched hand. A dynamic eagle perches on a standard emblazoned with E. PLURIBUS UNUM on the reverse. The example in this set of the quarter eagle sports pretty light coloration. Interestingly, the Pan-Pac quarter eagle is the first of its denomination to be issued as a commemorative.

Fifty Dollar Gold Round. Mint State.

A helmeted Athena, the Greek goddess of wisdom, appears on the obverse with the date in Roman Numerals appearing at the top of her shield. An owl, Athena’s symbol, perches on a ponderosa pine on the reverse; Robert Aitken, a San Francisco-area sculptor possibly best-known for designing the west pediment of the Supreme Court building, designed the $50s.

Both of the present $50s are exceptionally attractive, with sharp Mint details and wholly original luster.

Fifty Dollar Gold Octagonal. Mint State.

The octagonal $50 represented a number of firsts, and technical headaches, for the U.S. Mint. It was the first $50 coin, the first non-round coins, and the first octagonal coin, produced by the U.S. Mint, which had to ship a hydraulic press from the Philadelphia facility to strike the massive, two-and-a-half-ounce gold coins.

The octagonal $50’s shape was an evocation of San Francisco’s Gold Rush history, in 1915 only decades in the past. Octagonal gold slugs produced from freshly-mined gold by Bay Area assayers in the early 1850s inspired the unusual shape, a first for the Mint. The 19th century slugs inspired a number of other privately-produced medals sold at the PPIE, and pieces of exonumia produced since.

Dolphins, a motif common to other Pan-Pac denominations, appear in the negative spaces between the obverse fields and the edges.

The $50s and quarter eagle all bear the motto “In God We Trust,” a first for U.S. commemorative coins.

The box is in nice condition, with very few scuffs or other distracting marks. The upper- and lower-right edges of the box are beginning to split outwards somewhat, but the box is nonetheless attractive.

Provenance:

Purchased at the Exposition by Philip Berolzheimer;

Gifted to his son Charles Berolzheimer;

By descent to his son Philip C. Berolzheimer;

Consigned by the Philip and Anne Berolzheimer Administrative Trust

Doyle is thrilled to offer a complete set of Panama-Pacific International Exposition coinage with an intact leatherette case, as the set was issued in 1915, one of a handful of such intact sets known. An offering of a complete set of Panama-Pacific International Exposition commemorative coinage is a marquee event for any auction house; a complete set with an intact, original presentation case could be a once-in-a-lifetime opportunity for any numismatist. This set is fresh to market, having resided in an old-time collection from a prominent American family for the last century.

Congress approved commemorative coinage for the Panama-Pacific International Exposition, conceived to celebrate the 1914 opening of the Panama Canal and the reconstruction of San Francisco nearly a decade after the devastating 1906 earthquake, in early 1915. The PPIE coinage was the first commemorative coinage produced outside of Philadelphia, which, per Roger Burdetter’s seminal Renaissance of American Coinage, created logistical headaches for the U.S. Mint. First strike ceremonies at the San Francisco facility in the summer of 1915 saw a number of dignitaries operate the coin presses, a practice common to Mint events to the present day.

After some bureaucratic wrangling, rights to sell the PPIE coinage went to Farran Zerbe, a colorful hustler well known in early 20th century numismatic circles for his leadership of the American Numismatic Association and relentless promotion of different numismatic products, the hobby, and his own business ventures. The coins were sold individually and in full sets for a whopping $200, quite a sum in 1915. Sales ultimately failed to materialize, a disappointing reality for the Expo organizers that had numismatic repercussions. Burdette offers this assessment: “Sales…were disappointing with every aspect under Zerbe’s control producing less than expected results.” Zerbe continued selling the commemoratives even after the gates closed in December 1915. Large quantities of all the denominations left unsold were ultimately melted, a major cause of some of the coins’ rarity.

California fauna, patriotic imagery evocative of the Canal’s construction and opening, and classical motifs alluding to the Canal’s commercial potential feature prominently on the coins, designed by some of the period’s foremost medallic artists with bold-faced names like George Morgan, Charles Barber, and Robert Aitken.

Many famous numismatists have lauded the Pan-Pac coinage for its exceptional artistry and examples are eagerly sought by collectors of U.S. Classic Commemoratives.

This set was purchased at the PPIE by the Berolzheimer family, who traveled from New York City to California in 1915 to attend the Exposition. It has remained in the family for over a century, presenting the knowledgeable buyer with an unprecedented opportunity to purchase a fresh Pan-Pac set. The coins have not been certified and encapsulated.

Advanced collectors will appreciate this set as an amazing survivor, a testament to one of the U.S. Mint’s greatest experiments in commemorative coinage, with a remarkable provenance. It is sure to attract eye-catching bids.