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    Description

    1929 Indian Half Eagle, MS64+
    Final Date of the Series
    Underrated Issue in High Grade

    1929 $5 MS64+ PCGS. CAC. Half eagles were struck for the last time at the Philadelphia Mint in 1929, with a substantial mintage of 662,000 pieces. Since none of the five dollar coins had been struck since 1916 at any of the U.S. mints, and none would ever be struck again, it seems logical to assume that the denomination was not really useful in the economy of those times. While hard money was popular in the Western United States before World War I, most people became used to the more convenient paper money during and after the war. Gold coins mostly sat in bank or Treasury vaults, to be used as currency reserves throughout the 1920s. Since large denomination coins, like the double eagle, were more efficient for that purpose, the half eagle was superfluous. Of course, this made it easy for the government to gather up most of the 1929 mintage in 1933, when the Gold Recall took effect. Most 1929 gold coins of all denominations were melted and stored as gold bars at the Fort Knox Bullion Depository in later years.

    Today the 1929 Indian half eagle is much more difficult to locate than its rather large mintage figure would suggest. While MS64 examples can be located with some patience, the issue is a prime condition rarity at the Gem level, making this high-end Choice specimen an attractive balance of quality and value. The coin offered here displays lustrous lemon-yellow surfaces with only minor signs of contact. The well-detailed design elements show just a touch of the usual softness on the lower headdress feathers and eye appeal is outstanding. PCGS has graded only eight numerically finer examples (6/14).
    (Registry values: N4719) (NGC ID# 28E2, PCGS# 8533)

    Weight: 8.36 grams

    Metal: 90% Gold, 10% Copper


    Learn more at the Newman Numismatic Portal at Washington University in St. Louis.

    Auction Info

    Auction Dates
    August, 2014
    5th-9th Tuesday-Saturday
    Bids + Registered Phone Bidders: 17
    Lot Tracking Activity: N/A
    Page Views: 780

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