1909-O $5 AU58 PCGS. CAC....

Description

Notable Near-Mint 1909-O Half Eagle

1909-O $5 AU58 PCGS. CAC. By now the mintage of this well-known rarity is equally notorious, a mere 34,200 pieces. What is more interesting, however, than just the low mintage is exactly why so few coins were issued, and under what circumstances. In its long history from 1838 to 1909, the New Orleans Mint struck only (varieties aside) 16 differently dated O-mint half eagle issues: the 1840-O, 1842-O through 1847-O, 1851-O, 1854-O through 1857-O (12 Liberty Head, No Motto issues); the 1892-O through 1894-O (three Liberty Head, With Motto issues); and the 1909-O, the lone Indian Head half eagle issue.
By contrast, the last double eagle was the 1879-O (and it was the first since the 1861-O), and the last eagle issue was the Liberty Head 1906-O. While the 1909-O half eagle's mintage makes it rare within the context of the Indian Head series, many of the earlier O-mint issues had much smaller production numbers. But by 1909 the superannuated mint had been having structural problems for more than 60 years. The 1909-O Indian Head half eagles appear to be a great last gasp, an attempt from the aging, historic edifice to snatch a bit of relevance from a century that had passed it by.
This near-Mint example displays just the slightest loss of luster on its high points and nearly complete luster in the fields. As such, it is rare, since most examples are in the lower ranges of AU at best and show little luster. The strike is remarkably sharp, with almost complete definition on the lowest headdress feather. The surfaces have a pronounced reddish tint, and there are a few small field marks, consistent with the grade.(Registry values: N2998)

Coin Index Numbers: (NGC ID# 25ZK, PCGS# 8515, GSID# 9320)

Metal: 90% Gold, 10% Copper
Weight: 8.36 grams
AGW: 0.24188oz
Mintage: 34,200

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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