1929 $5 MS64 NGC. CAC....

Description

1929 Indian Half Eagle, MS64
Elusive Final Issue

1929 $5 MS64 NGC. CAC. The Philadelphia Mint began striking half eagles again in 1929, after a 13-year hiatus, with a large mintage of 662,000 pieces. Surprisingly, the issue is one of the most elusive in the entire series, in terms of total number of coins available in today's market. Apparently half eagles were not needed in the shrinking economy of the Great Depression, which hit just as the coin were being minted. Most of the substantial mintage remained stored in banks and Treasury vaults and few survivors show any signs of circulation. When the Gold Recall of 1933 was enacted, almost the entire production of 1929 half eagles was easily rounded up and returned to government control. The great majority of the coins were then melted and stored as gold bars in the Fort Knox Bullion Depository.

Only ten years after its issue the 1929 Indian half eagle was recognized as an elusive date and examples began commanding a significant premium when offered at auction. The coin in lot 1223 of the William B. Hale Collection (B. Max Mehl, 11/1939) was described as follows:

"1929 Bright uncirculated. No Half Eagles coined from 1916 to 1928 inclusive, and no proofs struck in 1929. Scarce."

The lot realized $21, a strong price for a ten-year-old coin at the time. Recent offerings bring many multiples of that price and the record currently stands at $51,750, realized by the MS65 PCGS coin in lot 10369 of the San Francisco Signature (Heritage, 7/2005). No half eagles were struck after 1929, so the issue has strong appeal to final-date type collectors as well as series specialists.

This coin displays well-detailed design elements and lustrous yellow and rose-gold surfaces with only minor signs of contact. The overall presentation is most attractive and we expect intense competition when this lot is called. Census: 75 in 64 (2 in 64+), 6 finer (3/15).
From The Virginia Cabinet.(Registry values: N4719)

Coin Index Numbers: (NGC ID# 28E2, PCGS# 8533, Greysheet# 9316)

Weight: 8.36 grams

Metal: 90% Gold, 10% Copper

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 all of [The Virginia Cabinet ]

View Certification Details from NGC