|Mint Mark:||O - New Orleans|
|Metal Content:||0.4838 troy oz|
There were higher mintages on many gold coins during 1894 because of the economic situations caused by the “Panic of 1893.” This “Panic” was a serious economic depression caused by a series of bank failures, which caused people to hoard their gold and silver coins. Silver champions were battling those who supported the United States remaining on the Gold Standard and that became the major election issue during the 1896 Presidential Elections between William McKinley and William Jennings Bryan. So mintages of gold coins in 1894 were increased to satisfy the shortage of gold coins. The Gold Standard supporters, choosing McKinley, were victorious over the Silver Standard supporters.