Owner Comments:
The Louisiana Purchase was one of the most important events in United States history. In one fell swoop The United States almost doubled its size and laid claim to all of the land that now composes the American Midwest.
In 1803 President Thomas Jefferson was concerned about the port city of New Orleans. Since 1795, American merchants had enjoyed the right to use the city for trade without restrictions. Recently, however, the Spanish Government had imposed new restrictions on the American trade in New Orleans. These restrictions threatened to have an adverse affect upon the economic development of the areas of The United States that depended upon the Mississippi River for trade and commerce. In addition, the Spanish Government had made a deal with France that returned control of the city and the vast lands north of it to French control. At this time France under Napoleon Bonaparte was an expansionist empire, and Jefferson was concerned that the French might threaten American interests in the future.
With these issues in mind Jefferson dispatched James Monroe to Paris to assist the American Minister to Paris, Robert Livingston. Their assignment was to purchase the city and port of New Orleans and any lands around it that were required for its defense. Monroe and Livingston were authorized to spend as much $10 million to achieve their objective.
Upon arrival the American ministers were amazed to learn that Napoleon was willing to sell the entire Louisiana Territory to the Americans, some 828,000 square miles. This offer far exceeded the mission that had brought the Americans to Paris, but it was an offer that was too good to refuse. After some negotiations the French and Americans agreed upon a price of $15 million.
Upon learning of the deal, Jefferson was cool to it at first, but then he realized the possibilities. Yet Jefferson had been elected President by promising smaller government and a weaker presidency. Jefferson wondered if the Constitution gave him the power to buy land from a foreign power. Finally Jefferson decided to go forward with the deal and asked Congress to approve it. On December 20, 1803, The United States formally took possession of the Louisiana Territory.
On April 30, 1904, The Louisiana Purchase Exposition formally opened in St. Louis, Missouri. Like the Columbian Exposition more than a decade before, this world's fair opened a year late, but it was truly a marvelous event. The fair grounds covered 1,272 acres and included 15 major exhibits in addition to many smaller attractions. Overall the fair attracted 20 million visitors.
Two types of commemorative gold dollars, a Jefferson and a McKinley coin, were sold at the fair. The issue price was $3.00, and proceeds were to be used to defray fair expenses. Sales of the coins were disappointing, despite the fact that some coins were made into jewelry and other innovative uses. Although the records are incomplete, it has been estimated that 17,500 examples were sold of each type.
The first image is of the 1903 Jefferson commemorative gold dollar. Below it is the modern "yellow bronze" version the Jefferson Indian peace medal which provided Barber with a model for his gold dollar design. The Jefferson Indian peace medals were probably designed by John Reich. These pieces were produced in silver in three sizes. These early peace medals, which were hollow, were composed of two silver shells that were held together by a bezel.