1915-S $50 Pan-Pacific Exposition (Round) NGC MS-66
NGC MS-66 $50 Round Slug |
 The Pan-Pacific “slugs” are not only fascinating due to their size, they are very difficult to locate in undamaged, original condition. Issued in boxes and frames that exposed the coins to mishandling, nearly every surviving piece has some sort of friction on the high points of the cheek of Minerva. Many buyers were proud to display the huge coins and would, from time to time, “polish” or wipe the coin in order to bring up the shine. Unfortunately, this caused microscopic disturbances of the soft, gold surfaces.
Somehow this remarkable piece survived virtually unscathed and are among the upper echelon of both the “Octagonal” and “Round” varieties in existence. (There are only 3 graded higher for the Round)! Of the 483 Rounds minted, less than 5% survive today that are of true superb gem quality (MS66 or better). These fascinating $50 pieces were struck on site at the Pan-Pacific Exposition in 1915 which was held to commemorate both the opening of the Panama Canal and the resurrection of the city of San Francisco after the disastrous 1906 earthquake. Both pieces display all the golden color and luster one would expect from an eye-catching “Pan-Pac Slug” and is sure to find its way into a world class collection of American gold coins. The term “slug” is said to come from the California gold-rush era. Prior to the San Francisco mint being established in 1854, only private assay pieces were made and most were of the $50 denomination due to the tremendous amount of gold being brought down from the Sierra foothills. Stories abound about the rowdy streets and saloons of the city and it was said that the hefty coins were often placed in a sock and used as a weapon to “slug” an adversary over the head. The term has remained to this day and any veteran numismatist understands that a slug is a $50 gold piece. This pair of exceptional pieces represents an incredible opportunity to acquire one of the most fascinating and unique examples of the American coiner’s art while at the same time, preserving an important piece of 20th Century Americana as a legacy for future generations as a store-house of value. |
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