Owner Comments:
LOUISIANA PURCHASE EXPOSITION 1904, ST. LOUIS, MO SOUVENIR COINS OF ADMISSION. I BELIEVE THAT THIS MEDAL IS SLIGHTLY UNDERGRADED, LOOKS EVERY BIT A MS 65 DPL TO ME.
MY NGC GRADED MS 65 PL EXAMPLE SOLD ON EBAY EARLIER THIS YEAR FOR $530.00.
AN NGC GRADED MS 65 DPL WAS SOLD BY HERITAGE AUCTIONS FOR $763.75.
Purpose: To commemorate 100th anniversary of Louisiana Purchase, "second in importance in nation's development only to American Revolution."
Called by some "handsomest metal products" of exposition. Issued by Louisiana Purchase Souvenir Coin Co., in no way connected with exposition company. Round specimen appeared first at cost of 50 cents; purchaser entitled to guess number of total paid admissions, winner to receive $50,000 in gold! Promoters planned office at exposition entrance to redeem medals for admission tickets.
Scheme launched at same time as Official Souvenir Coin Department of exposition became active and public long thought same was part thereof. Situation finally clarified by press releases.
Obverse of medal bears crowned bust of Louis IX resembling that on Isabella quarter; also reverse bears word "coin." U.S. Treasury Department was asked by exposition to rule on both points but apparently no action taken. However, after "less than 25,000" round medals were sold, "a large order" was placed for octagonal shape. Almost concurrently, company disappeared following failure to secure either official recognition or concession privileges and octagonal issue bought up by souvenir and coin dealers. Most medals bear serial number on reverse, round ones under No. 25,000, octagonal ones over No. 25,000.