MINUTEMAN
RARE COIN
(339) 222-4571
$5 INDIAN HALF EAGLE 1908-1916 & 1929
At Minuteman Rare Coin Company, with our experience and expertise, our clients own some of the finest and most valuable gold $5 Indian Head half eagles.
The $5 Indian Head half eagle is a classic early 20th-century gold coin, rich in historical significance. What are the most sought-after $5 Indian half eagles? Well, all of them!
The reason? Their low mintages, heavy circulation and exportation, and mass melting have led to low survival rates for many issues, especially in higher Uncirculated Mint State conditions, leaving many coins very difficult to obtain.
In 1795, the $5 Half Eagle denomination was the first gold coin produced and released by the U.S. Mint for general circulation. The $5 half eagle was unquestionably the most successful Gold denomination in American gold coinage history.
From 1795 to 1916, gold $5 half eagle production was skipped only three times, in 1801, 1816, and 1817.
The denomination survived political turmoil, financial catastrophes, depressions, and War. The half eagle was indeed a coinage warrior, a real "workhorse" in America's journey of growth on its way to becoming a world power.
At Minuteman Rare Coin Company, our experience and expertise will guide you in your collecting and investing journey and assist you in making informed decisions, choosing the "right" coins, and navigating the exciting world of rare coins.
In 1907, President Theodore Roosevelt commissioned Boston sculptor Bela Lyon Pratt to redesign the gold $5 (Coronet) Liberty Head half eagle.
The Liberty Head design was rooted in the mid-19th century and had not undergone a significant design change in over fifty years. Pratt redesigned the coin with an innovative and daring "incuse" design or "sunken relief."
The coin's design was pressed into its surface instead of raised above it, as in the traditional coin press technique.
There is only one other coin in American coinage history to claim this unique design, the gold $2.50 Indian Head quarter eagle, also created by Pratt. Both coins were minted and released for circulation in 1908.
Worldwide, investors and collectors of U.S. gold rare coins covet the $5 Indian Head half eagle as a pre-1933 gold type. Its size is comparable to the modern-day nickel.
The $5 Indian half eagle was minted from 1908 to 1916 and 1929. It was produced at the main Mint in Philadelphia, San Francisco, New Orleans, and for ten years in Denver. There is a total of 24 date and mintmark combinations in the series.
Quite a few dates in this series are incredibly challenging to obtain in higher Uncirculated Mint State condition. We recommend to our clients on a tight budget not to attempt assembling the entire series in Uncirculated Mint State condition. Instead, focus on acquiring particular coins and key dates in the series.
In the early 1900s, the gold $5 Indian half eagle had a high face value and significant purchasing power. For example, the purchasing power of $5 in 1908 is equivalent to $142.00 in 2024.
This accounted for its wide circulation, particularly throughout the Far West. The coin also experienced hoarding and mass melting for its precious metal content, accounting for its low survival rates in Uncirculated condition.
In the early 20th century, citizens who lived in the East rarely used or even saw gold coins in circulation. Oddly enough, the $5 Indian half eagles minted at the main Mint in Philadelphia were either sent West, exported, or melted.
The U.S. Mint halted production of the $5 Indian half eagle in 1916 due to the United States' impending entrance into WWI. The series would resume 13 years later for one year, 1929.
In 1929, the main Mint in Philadelphia struck 662,000 pieces, but very few pieces of this issue were released into circulation. Most of the mintage was held back, stored as gold reserves, and later sent to the melting pot in the early 1930s.
The infamous Wall Street crash of 1929 and terrible economic conditions prevented further production of the half eagle, ending the run of the United States' first gold coin denomination dating back to 1795.
KEY DATE GOLD $5 INDIAN HEAD HALF EAGLES
1909-O (New Orleans) This $5 Indian Head half eagle is a perfect example of a valuable and highly coveted coin, regardless of its condition. There are four significant factors the 1909-O has going for it as an exceptional collector and investment piece.
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It is the key date in the series, with the lowest mintage figure of only 34,200. This coin has a significantly low survival rate in Uncirculated Mint State condition AND it was the only year the New Orleans Mint produced the coin.
In addition, in 1909 the New Orleans Mint closed its doors forever, making this precious coin a last year of issue and a treasure to own. Specimens of this coin, even in certified XF condition (Extremely Fine), are valued at around $10,000.
To say this coin is valuable and highly desirable among investors and collectors worldwide is an absolute understatement.
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1914-S (San Francisco) Many rare coin numismatists argue this coin should be considered the key date of the $5 Indian Head half eagle series. Even though it has a higher mintage than the 1909-O, with 263,000 coins produced, it experienced heavy circulation, hoarding, and melting.
Population reports show certified coins graded above MS-63 are scarce, with a low survival rate in mid to higher Uncirculated Mint State condition. There is only one example that is authenticated, certified, and graded Gem MS-65.
1929 (Philadelphia) is a significantly important issue because it was the last year the $5 Indian half eagle was produced, closing out a denomination that was the first gold coin minted for circulation by the United States Mint in 1795.
The 1929 issue was struck at the main Mint in Philadelphia with a mintage of 662,000, but the mintage output is deceiving as very few coins were released into circulation.
Due to economic conditions preceding the Great Depression, most of the mintage of 1929 was held back as gold reserves. Eventually, in the early 1930s, the coins held in reserve met their demise by way of the melting pot. Thus ending the $5 gold half eagle denomination's legacy and 134-year run.
1914-D (Denver) is one of the most under-appreciated coins of the series. Almost all known examples are certified and graded MS-63 or less. This coin is a true "condition rarity" and scarce in any Uncirculated Mint State grade.
After the Presidential gold recall of 1933, coins held as reserves in the U.S. Treasury Department and bank vaults were eventually melted. This created many of the great rarities in the U.S. Rare gold coin market today.
SAN FRANCISCO MINT SET & THE 1909-O
Combining the historical significance of its innovative incuse design, value, rarity, and uniqueness, acquiring Gold $5 Indian Head Half Eagles will undoubtedly add exceptional value to any serious U.S. Gold rare coin portfolio or collection.
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Our strongest recommendation for those with the financial ability is to acquire and complete a 9-coin San Francisco Mint set in the highest certified grades affordable.
This San Francisco mint set represents an exceptional upside investment opportunity for significant growth in value and price appreciation due to its exceptionally low mintages, low survival rates, and current price levels.
Below, take note of the extremely low mintage figures for each issue of a 9-coin
$5 GOLD SAN FRANCISCO INDIAN HEAD HALF EAGLE MINT SET
1908-S 82,000
1909-S 297,200
1910-S 770,200
1911-S 1,416,000
1912-S 392,000
1913-S 408,000
1914-S 263,000
1915-S 164,000
1916-S 240,000
You'll notice in the list above that only one issue, the 1911-S, tops the one million mintage mark. Don't be misled by this mintage figure. The 1911-S is a semi-key date due to its low survival rate.
This coin experienced heavy circulation and significant hoarding and melting. Finding issues of this coin in higher Uncirculated Mint State condition is a challenge, a testament to its scarcity.
The $5 Indian Head San Francisco Half Eagle Mint Set represents an exceptional investment opportunity with tremendous upside for potential growth in value and price appreciation.
The 1909-O $5 Indian Head Half Eagle
In addition to the acquisition of the $5 Indian Head Half Eagle San Francisco Mint set, we list the 1909-O $5 Indian Head Half Eagle as a single coin high-priority acquisition in the highest grade affordable, and here is why:
The 1909-O is the undisputed key date and premier issue of the series. It has the lowest mintage, with only 34,200 pieces struck. 1909 was the only year the New Orleans Mint produced the coin and the year the New Orleans Mint closed forever.
The 1909-O is one of the major rarities of Early 20th-century gold coins, especially in "Gem" or near "Gem" condition. Not many of these coins come on the market in any grade and must be acquired when they do.
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These factors make the 1909-O Half Eagle an extremely desirable and valuable coin for all collectors and investors. It is a prime rarity in "Gem" MS-65 condition. This coin must be acquired sooner rather than later in the highest certified grade you can afford. As time passes, we anticipate that price appreciation and lack of availability will make it much harder to obtain.
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Note: There are less than 100 known examples of the 1909-O $5 Indian Head half eagle in Uncirculated Mint State condition. An AU-55 (About Uncirculated) currently trades at a value of $14,000 to $17,500. It has gained 20% in value over the past two years.
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We project this price trend to continue upward. Regardless of condition, it is a coin not to hesitate to acquire when it becomes available. There is always the option of upgrading in the future.
MINUTEMAN RARE COIN:
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What's the number one piece of advice we give our clients?
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"Always acquire the best coins you can afford"
