Very Rare Proof 1903 Louisiana Purchase/Jefferson Gold Dollar
In Original Philadelphia Mint Holder
1903 Louisiana Purchase Exposition Gold Dollar, McKinley Portrait, Proof (Uncertified), housed in original frame with Philadelphia Mint wax seal and imprinted card signed by Superintendent J.M. Landis and Coiner R.R. Freed.
13.25 inches x 11.5 inches x 1 inch, total dimensions as framed. The coin itself is untouched since the day it left the Philadelphia Mint in 1903, although it has acquired an even overlay of hazy golden-rose patina. The signed certificate of issue by Coiner Rhine R. Freed and Superintendent of the Mint John M. Landis appears crisp and free of defect in the frame. The original string with tied bow surrounds the coin and the ends are closed in a red wax seal that is imprinted SUPT. U.S. MINT PHILA. with a star at the center. The entire packaging is exceptionally well preserved, much finer than usually encountered for these. The wax seal, however, has a thin crack through the lower third with a piece out at center, although it remains intact, its bottom edge lying underneath the matting within the frame. The coin is one of the first 100 issued in Proof, and both sides can be seen behind the hazy wax paper of issue. (Both the front and back of the frame are clear glass.) Although the surfaces cannot be easily examined in this aged holder, it is presumed the coin is as pristine as the moment it was placed there at the Philadelphia Mint, as the holder remains unbroken from that day in 1903. The frame is attractive gilt finish with a decorative border on the front, with considerable, yet minor chipping and scuffing to both the border and gilding noted for accuracy. There is no wire or other mounting for hanging. In one part of St. Louis, Missouri in 1904, Judy Garland was singing "Meet me in St. Louis, Louie. Meet me at the Fair" at a live-band dance pavilion. Nearby, a few days earlier perhaps, the commission of the Louisiana Purchase Centennial Exposition and Fair was meeting in another pavilion. The promoters, patrons, politicians and organizers, along with various citizens of high standing local reputation, were cutting the ribbon for its opening. The enabling legislation had been signed by President William McKinley in early 1901. Assassinated later that year, his portrait joined that of Jefferson's in 1902 when designs were subsequently suggested and approved for the commemorative gold dollars to be distributed in connection with the Exposition. As a fundraising novelty, these gold dollar commemorative coins, the first of that denomination, were designed to specifically note this remarkable doubling of the nation's territory. The coins are dated for the centennial year of 1903, in which it had been intended that the Exposition was to open. The venue's construction was much delayed by bad weather, and 1904 arrived before the two designs were offered to the public. Having a face and intrinsic value of one dollar, they were to be distributed to the public at a price of three dollars per coin under the fundraising aegis of Farran Zerbe. Things did not go well. A minor scandal ensued before restitution was made, and the vast majority of the pieces authorized and minted ended up being melted. Of each design, the first 100 minted were prepared in Proof format. Each was individually packaged in a two-ply cardboard presentation case, as here. These special Proofs were not offered to the public, but were gifted by the promoters to various well-connected private citizens and favored Mint officials. PCGS and NGC populations indicate that the majority of both Proof issues have been broken out of this original packaging and submitted for third-party certification. As such, very few of these original holders exist. Only one other Proof McKinley and two Proof Jeffersons with the original holders have been offered in our auctions since 2009. A rare and significant piece of Americana worthy of the strongest bids.
PCGS# 7483. BASE PCGS# BYMG.