1909-O $5 MS64 PCGS. CAC. Variety 1....

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Sold on Sep 12, 2024 for:

$216,000.00 Bid Source: Internet bidder

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Description

1909-O Indian Half Eagle, MS64
Low-Mintage Branch Mint Key
Only O-Mint Indian Five

1909-O $5 MS64 PCGS. CAC. Variety 1. The New Orleans Mint struck a minuscule production of just 34,200 Indian half eagles in 1909, before closing its doors for coinage operations on April 1. The 1909-O Indian half eagle represents the only issue of Bela Lyon Pratt's innovative design ever struck at the historic Southern facility. The coins were released into circulation and few high-quality examples were saved by contemporary collectors. Branch mint gold specialist Doug Winter notes:

"It is not an especially scarce coin in circulated grades but it is exceedingly popular due to its status as a one-year type. In recent years, the level of demand for this coin has soared and it now ranks as one of the most popular New Orleans issues of any denomination. ... The 1909-O is very scarce in properly graded Uncirculated with most survivors in the MS60 to MS62 range. This date is rare in MS63 and very rare in MS64."

Auction appearances of the 1909-O are difficult to locate before the 1940s and the issue was not on most collectors radar before then. In his catalog of the Frederic W. Geiss Collection (2/1947), B. Max Mehl commented on the "sleeper" status of the 1909-O in lot 1820:

"1909 $5.00 Gold, O Mint. Uncirculated. Extremely rare and valuable. Here is another rare Half Eagle which was a 'sleeper' for some time. In 1942, in the Standard Catalog, this coin was listed at $20.00. And as late as the catalog of 1944 it was listed at $50.00, but in a Sale held in 1944, the specimen here offered brought no less than $200.00. And the second specimen offered appeared in the early part of 1946, where a similar specimen brought $275.00. I feel certain that this is another rare Half Eagle destined to become another $500.00 coin in the not distant future."

The lot realized a strong price of $250. Of course, prices have continued to rise exponentially in recent years and recent sales include the MS64+ PCGS specimen in lot 3045 of the FUN Signature (Heritage, 1/2021), which realized $240,000.

The coin offered here is a spectacular Choice example that exhibits sharply detailed design elements throughout, with unusually sharp definition on the lower headdress feathers. The well-preserved orange-gold surfaces radiate vibrant mint luster and no mentionable distractions are evident. Overall eye appeal is terrific and the high quality within the grade is confirmed by CAC. Population: 9 in 64 (1 in 64+), 4 finer. CAC: 2 in 64, 1 finer (7/24).(Registry values: N14284)

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

Weight: 8.36 grams

Metal: Gold

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.

View Certification Details from PCGS