1929 $5 MS65 PCGS....

Description

1929 Half Eagle, MS65
Top-Grade Rarity
Delightful Luster and Eye Appeal

1929 $5 MS65 PCGS. Coinage of half eagles ceased in 1916, largely due to a lack of commercial demand for both them and the smaller quarter eagle. Changes in consumer demand for small denomination gold in favor of paper gold certificates was something occasionally referenced by Mint Directors in their Annual Reports, with the earliest such mentions as far back as 1910-1911. By the 1920s, gold coin was largely absent from domestic circulation, particularly in the East. Most gold coinage produced was in the form of double eagles, which served a dual purpose as backing for gold certificates and as an international trade coin.

The mintage of 662,000 half eagles at Philadelphia in 1929 was an anomaly in the U.S. gold series and one that has never had a meaningful explanation. Quarter eagles were struck into 1929 to supply a small Christmastime demand for the coins as gifts, but the same was not a factor for the half eagle. If commercial demand was a part of the equation, that part dissolved with the stock market crash in October. Some 1929 fives went to the Mint Cashier and were paid out in small quantities over time, eventually producing the few hundred examples of the issue that survive today. However, most of the mintage never left Mint vaults and was melted down after 1933.

Today, the 1929 Indian half eagle is a major melt rarity and one of the big key dates in the series. Most known examples are in Mint State, having never circulated in commerce, but they are lightly to moderately abraded. Gem-quality pieces are distinctly rare. This MS65 example displays beautiful original luster with brass-gold, orange, and honey hues across each side. Only slight strike softness is noted on the lower headdress feathers, and surface marks are minimal. A tiny reed mark on the chief's eye serves as a pedigree marker. Housed in a green label holder. Population: 13 in 65, 0 finer (11/23).(Registry values: N7079)

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.

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