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1915 Panama-Pacific $50 Octagonal Advice

 
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United States
22 Posts
 Posted 08/27/2010  1:50 pm Show Profile   Bookmark this topic Add hunter4life to your friends list Get a Link to this Message
This is one of several coins from my late uncle's collection that has been in my family for several generations that will be for sale pending appraisal and grading. This one is part of a four-piece set case. Am I right in thinking to store them still in the case? Any ideas/thoughts/advice is greatly appreciated. I apologize for the poor pics. I did not have a lot of time to setup when I took them.

Thanks------



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United States
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 Posted 08/27/2010  2:58 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
to CCF!

Wow! This is an extremely pricey coin! What are the other pieces in the set?

It shows no signs of problems from being stored in the case so that shouldn't be a problem. You will need to have it authenticated however. Can you give us it's weight (in grams) and dimensions?

If genuine, this one piece alone would likely be valued over $50,000. Your pics look good.
ANA #R3154474
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United States
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 Posted 08/27/2010  3:10 pm  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply

Am I right in thinking that you all five commemoratives(silver 50c, gold $1, $2 1/2, and round and octagonal $50) in the original case? If so, you have $100,000+ in Pan-Pac commems and those coins are in need of third party grading and slabbing and sale of the set should be in an auction format with one of the major numismatic auction houses(Heritage, Stacks, Bowers and Merena, etc). Be careful with the coins, particularly the two massive gold ones, and do not touch them on the faces(edge handling is fine if you are very careful). Storage in the case should be fine until you get the coins certified. There are very few original complete sets left, you have a true numismatic rarity
Edited by biokemist6
08/27/2010 3:12 pm
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United States
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 Posted 08/27/2010  3:45 pm  Show Profile   Bookmark this reply Add hunter4life to your friends list Get a Link to this Reply
Thanks! The set was purchased by my great uncle at the 1915 Expo. It is a four coin set (the case is like the one displayed on the link you gave and is in great shape but only has cutouts for four coins not five) containing:

$50 octagonal gold
$2.50 gold
$1.00 gold
$.50 silver

It is my Aunt's wish to have all the coins appraised. Would this be the right move, or should they all be graded first?

Thanks again------------
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United States
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 Posted 08/27/2010  5:39 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
...have all the coins appraised. Would this be the right move, or should they all be graded first...


My advice would be to get good digital photos of all pieces including the case as soon as possible. Next, be sure these coins are kept in a safe, fireproof location like a bank safe deposit box.

After doing that, there are several major coin dealers in all parts of the U.S. This is not a set that should be appraised by a small town coin/pawn shop. If possible contact a major coin shop in a city near you and explain your situation without divulging your address.

As biokemist noted, this set COULD be worth well over $100,000, even w/o the $50 Round. You should protect your location for safety reasons. So, don't hurry, but get some good photos, keep the coins locked up, and don't worry about having them graded just yet.

I'm heading to a football game but will check back later.
ANA #R3154474
Edited by BH1964
08/27/2010 5:41 pm
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United States
22 Posts
 Posted 08/27/2010  8:33 pm  Show Profile   Bookmark this reply Add hunter4life to your friends list Get a Link to this Reply
Thanks for your feedback. I did get all of the collection into a safe place after work today.

Also, I will be making inquiries at dealers for appraisal next week. I really need to buy a decent shooting stand for the pics too. Believe it or not I did study some photography back in college but never remember doing any macro work. Have to get my lighting down too!

Thanks again to all----
Valued Member
United States
151 Posts
 Posted 08/27/2010  9:01 pm  Show Profile   Bookmark this reply Add pfriddle to your friends list Get a Link to this Reply
Wow! This is pretty exciting. Please keep us posted on what you do with these and maybe post some pics of the other coins when you get a chance.
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 Posted 08/28/2010  3:02 pm  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
Holy Cow Batman ...... that coin (along with it's round brother) is the Holy Grail of US Commemorative. In MS63 it's a $75,000 coin ..... double that if it is gem MS65.

The 4-pieces set (coins you described above) with case was sold at the time for $100 ...... which was a good bit of money 95 years ago.

There is a fascinating story associated with the marketing of these Pan-Pacific coins ..... you can read about your coin here:

https://www.coincommunity.com/comme..._dollars.asp

The 'net distribution' of the octagonal $50 gold was only 645 coins ...... and many of these were sold individually ...... making it quite possible that you have possession of a very rare complete 4-coin set with case.

I've never heard of an original set (with case) appearing on the market.

Sooooo ... my advise is to leave them just as they are in the case ..... snap some clear digital photos of the coins/case and put the lot away in a safety box where they are protected.

I can't offer any advise on who is best to appraise such a rarity ..... stop by your local bookseller and purchase a current copy of Coin World ...... there you will find ads for the big dealers who could do this for you (for a fee).

We would enjoy seeing photos when you get them of the entire set.

Whatever you do ..... take your time ..... you have possession of what is possibly a true rarity and worth lost of $$$$.

Let us know how it goes for you ...... and ...



David

Take a look at my other hobby ... http://www.finewoodcrafter.com
Too many hobbies .... too much work .... not enough time.
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 Posted 08/28/2010  3:46 pm  Show Profile   Check XavierOfGreen's eBay Listings Bookmark this reply Add XavierOfGreen to your friends list Get a Link to this Reply
i agree that if you have the original case and packagings that it might be better to not have them encapsulated as original intact sets are rediculously rare
Oldest Found-------
Cent: 1842 (from machine) ---- Three Cent: 1866 [Nickel] (from machine)
Nickel: 1883 (from roll) ---- Dime: 1911 (from roll)
Quarter: 1932 (from machine) ---- Half: 1917 (from roll)
Dollar: 1880 (from machine) ---- Foreign: 1863 (from machine)
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Australia
14465 Posts
 Posted 08/29/2010  02:03 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I went to a viewing day at an auction in Sydney many years ago looking for ancients, but there was a $50 octagonal and round pair up for auction, so I viewed them for myself knowing that would probably be the first and last time that I would be able to examine such coins very closely. You notice the massive feel of a 2 ounce gold coin!

Incidentally, how many folks on this Forum may be aware that the US Mint prepared a design for a gold $100 Union? No coins were struck.
Edited by sel_69l
08/29/2010 02:06 am
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United States
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 Posted 08/30/2010  10:41 am  Show Profile   Bookmark this reply Add hunter4life to your friends list Get a Link to this Reply
I will taking more pics as soon as I get a chance of this set and the rest of the collection. Thanks again for all your advice.
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 Posted 08/30/2010  11:03 am  Show Profile   Check nohope587's eBay Listings Bookmark this reply Add nohope587 to your friends list Get a Link to this Reply
I agree with all that has been said so far but I would add make sure you get more than one appraisal from reputable dealers. and make sure they know your are going to be asking for other opinions. Most dealers are honest but I would hate for you to get caught out but one that was not so.
Richard Barnes
(www.winsociety.org) WINS#366
eBay nohope587 ANA#1200381

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21622 Posts
 Posted 09/01/2010  4:10 pm  Show Profile   Check echizento's eBay Listings Bookmark this reply Add echizento to your friends list Get a Link to this Reply
Fantastic to have the whole set still in the case. You may want to contact Stacks or Heritage to appraise these coins.
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 Posted 10/29/2010  6:22 pm  Show Profile   Bookmark this reply Add hunter4life to your friends list Get a Link to this Reply

Sorry it took so long. Here are a few pics of the set.










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United States
671 Posts
 Posted 10/29/2010  6:27 pm  Show Profile   Bookmark this reply Add Americanamafia to your friends list Get a Link to this Reply
whatever you do dont clean them or touch the faces, always wear gloves. They look real and are worth a fortune.
Valued Member
United States
469 Posts
 Posted 10/29/2010  6:29 pm  Show Profile   Bookmark this reply Add southerngent to your friends list Get a Link to this Reply
Wow! What a set. I absolutely love the designs. Be very careful with them.
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