Commems Collection Classic: Quick Bits #42 - Misquoted Mintage Figures

I came across a bit of misinformation about a specific US commemorative coin in the June 13, 1923 edition of The Indianapolis Times (Indianapolis, IN). I post it here not as a well-past-meaningful criticism but as an example / warning of the need to be vigilant when researching coins (or, likely, anything) in local newspapers. I try never to trust a single source.

In 1923, The Indianapolis Times featured a regular column that went by the title "Ask the Times," Within this column was the following Q&A:

Q. When were the $50 gold pieces, or Panama Exposition coins, coined?

A. In 1915 only. There were 3,019 of these coins put in circulation.

While it's true that the Mint struck 3,019 $50 gold coins (1,500 round, 1,500 octagonal, plus 19 assay coins) in 1915, the figure reflects the total number authorized and struck, not the number sold or "put in circulation." (We'll overlook the fact that the coins were never technically placed into circulation, they were collector / souvenir coins from the start.)

Final sales figures list 483 for the Round variety, and 645 for the Octagonal; the balance of the coins struck were returned to the Mint and were melted.

I realize The Indianapolis Times was not intentionally trying to misinform its readers, but it illustrates what can happen when non-experts / the less-informed try to answer a question that requires specialized knowledge. The correct final mintage information for the Panama-Pacific International Exposition gold coins was available in 1923 - if the correct references were consulted - but the person at the paper was apparently not aware of where to look! They likely were a "generalist" vs. a numismatist.






(Image credits: Images courtesy of https://www.PCGS.com.)