1929 $5 MS65 PCGS. CAC....

Description

1929 Indian Five Dollar, MS65
Incredibly Rare This Fine
Ex: Childs-Simpson

1929 $5 MS65 PCGS. CAC. Ex: Childs-Simpson. The 1929 Indian half eagle is the only issue in the series struck after 1916. Gold circulated little domestically, and although 662,000 five dollar pieces were struck at Philadelphia in 1929, they were not immediately released into circulation. The economic downfall and widespread unemployment that followed the stock market crash in September 1929 further reduced the commercial need for the newly minted coins. As a result, by 1933, when President Roosevelt issued the Gold Recall executive order, most of the 1929 half eagle mintage remained in either Mint vaults or federal reserve control and was quickly gathered and destroyed. Only a few hundred examples survive today, mostly in Mint State, in grades of MS64 and lower.

Registry collectors face a particular challenge with this issue. While MS64 coins can be acquired with some patience, Gem examples of this issue are incredibly rare. PCGS and NGC combined report just 21 submissions of a Gem-quality specimen with none finer. Moreover, the few Gems that are known are tightly held off the market. During the past decade, MS65 pieces have appeared at public auction only seven times, with this coin accounting for two of those appearances.

This coin has not been seen publicly since its appearance in our sale of the famous Bob R. Simpson Collection, Part I (Heritage, 9/2020), nearly five years ago. This is only its fourth documented auction appearance in nearly a century of its existence (see pedigree below). The Childs pedigree is especially intriguing. Walter H. Childs formed the bulk of the family's collection from the 1870s until his death in 1906. His son C.F. Childs added to the collection in later years, acquiring many later-date rarities. We are not aware of specific records for C.F. Childs' acquisition of this 1929 half eagle, although surviving correspondence between Childs and prominent numismatists of the period suggest that he acquired this piece sometime in the mid-1940s.

This Gem has long stood as one of the finest 1929 half eagles known. Frosty, luminous yellow-gold and peach-orange luster adorns minimally marked surfaces and sharp design elements. Eye appeal is outstanding, and only a tiny mark in the reverse field near the N in UNITED serves as a reliable pedigree marker. The high quality within the grade is confirmed by CAC. The 1929 half eagle is the biggest prize of the Indian Head series, and in Gem condition it represents one of the most challenging acquisitions in the 20th century gold series. It may be years before a comparable example appears at auction. This coin is pictured on PCGS CoinFacts, in the View More Images section, and it is the first coin in their Condition Census. Population: 14 in 65, 0 finer. CAC: 1 in 65, 0 finer (11/24).
Ex: Walter H. Childs Collection (Bowers and Merena, 8/1999), lot 772; ANA Signature (Heritage, 7/2005), lot 10369: Bob R. Simpson Collection, Part I (Heritage, 9/2020), lot 10152, realized $102,000.(Registry values: N7079)
From The Don Kutz California Collection.

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 Don Kutz California Collection ]

View Certification Details from PCGS