New Proposal for Panama Pacific Exposition Centennial Commemorative Coins | Silver Coins

New Proposal for Panama Pacific Exposition Centennial Commemorative Coins

A bill was recently introduced in the Residence of Representatives which seeks to require the Secretary of the Treasury to mint and issue commemorative coins to mark the centennial of the Panama-Pacific International Exposition and the Panama Canal. Many specifics of program would differ from these included in a similarly themed commemorative coin system proposed below two bills introduced in the last Congress.

The new proposal would incorporate a total of five different coins, compared to four coins included in the previous proposal. All five of the proposed coins would function designs which are close likenesses of the 5 commemorative coins issued in 1915 for the opening of the Panama Pacific Exposition, compared to only three of the original designs getting becoming re-employed. Lastly, the new proposal calls for the half dollar denomination to be minted in 99.9% fine silver, with an optional clad version released for circulation. Under the preceding proposal, the half dollar would have only been made in clad composition, with no option for a circulation release.

Panama Pacific $  50 Gold Coin

The very first of the newly proposed coins would be two $ 5 face value gold coins carrying the styles of the octagonal and round 1915 Panama Pacific $ 50 Gold Coins. The obverse style characteristics the head of the goddess Minerva wearing a Corinthian style helmet, while the reverse functions an owl perched on a pine bough with 4 pine cones and sprigs of pine needles. The obverse and reverse designs for the octagonal version incorporate dolphins placed at every single of the vertices. In stark contrast to the original $ 50 gold coins which had a hefty weight of 83.55 grams and huge diameter of two inches, the new $ five gold coins would have a weight of four.18 grams and diameter of .7087 inches.

The subsequent proposed coin would would be a $ two.50 gold piece, or quarter eagle, featuring likenesses of the obverse and reverse designs for the original 1915 Pan-Pac $ 2.50 Gold Piece. The obverse style characteristics the goddess Olympia holding a caduceus and riding on the mythological hippocampus, which has the head of a horse and the tail of a dragon. The reverse characteristics an eagle perched on a plaque carrying the inscription “E Pluribus Unum”. The coins would have a weight of 4.18 grams and diameter of .7087 inches, matching these of the original problem.

A final proposed gold coin would have a face value of $ 1 and carry the identical design and style as the original 1915 Panama Pacific Gold Dollar. The obverse characteristics a Panama Canal laborer wearing a cap, even though the reverse characteristics a depiction of two dolphins encircling the denomination. Specifications for the new coin would match those of the original, with a weight of 1.67 grams and diameter of .5906 inches. All gold coins for the new plan would be struck in 90% gold and ten% copper.

Panama Pacific Half Dollar

The last coin integrated in the system would be a half dollar struck in .999 fine silver with a weight of 12.five grams and diameter of 1.2047 inches. The design would be a close likeness to the half dollar issued in 1915 featuring the full figure of Columbia scattering flowers from a cornucopia held by a cherub towards a sunset on the Golden Gate. The reverse design and style characteristics an eagle perched on the union shield with an oak branch an olive branch to every side.

Circulating clad composition half dollars featuring the identical style may possibly also be issued at the discretion of the Secretary of the Treasury. These would be issued along with half dollars bearing the regular design and could not account for far more than half of the overall quantity of half dollars issued for each year. The clad half dollars with the Panama Pacific design could be issued in 2017 and for no far more than five consecutive years.

Apart from the clad version of the half dollar, the other coins of the system may be issued only in the course of the a single year period starting on January 1, 2017.

Maximum mintage levels specified beneath the legislation are 75,000 round $ 5 gold coins, 75,000 octagonal $ five gold coins, 50,000 $ two.50 gold coins, 50,000 $ 1 gold coins, and 250,000 silver half dollars.

Surcharges of $ 35 per $ 5 gold coin, $ 20 per $ two.50 gold coin, $ 15 per $ 1 gold coin, and $ ten per silver half dollar would be added to the buy value of each and every coin. These surcharges would be distributed to to the San Francisco Museum and Historical Society for the style and building of acceptable exhibitions in the San Francisco Museum and Historical Society, which includes the required adaptive reuse of the Old Mint, commemorating the Panama-Pacific International Exposition, as nicely as the improvement of suitable exhibitions at the Palace of Fine Arts on the grounds of the former Panama-Pacific International Exposition.

The bill H.R. 2760: Panama Canal and Pan-Pacific Exhibition Centennial Celebration Act was introduced on July 19, 2013 by Rep. Nancy Pelosi and presently has 12 cosponsors. The bill has been referred to the Property Committee on Monetary Solutions. In order to turn into law, it should be passed by the Congress and signed by the President.

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