Heritage World Coin Auctions
Dallas Signature US Coin Sale 1261 2-3 Nov 2017
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Indian Half Eagles
1929 $5 MS64 PCGS. In the 1920s, and in some regions even earlier, gold coinage had largely become absent from circulation, replaced by gold certificates and federal reserve notes after the establishment of the Federal Reserve System in 1913. Continued coinage of physical gold was largely intended as backing for the paper substitute, as well as for trade and circulation in banks. As such, large denomination double eagles were the production of choice. Half eagles were last coined at Philadelphia in 1915, and in San Francisco in 1916. A rather healthy restart of half eagle coinage in 1929 amounted to 662,000 coins, although almost none of these coins ever reached the general public. The widespread destruction of gold coins in the mid-1930s following a recall order from President Roosevelt turned the high-mintage final-year issue of the Indian half eagle series into one of the most sought-after gold rarities of the 20th century.
The typical surviving 1929 half eagle is Mint State, as one would expect for an issue that experienced almost no active circulation. Although frequently offered at auction, high-grade examples of this issue never fail to draw strong bidding and collector interest. The present coin stands out from its peers with frosty, original luster that shows a blend of champagne and orange-gold hues, with wisps of lavender throughout. The lower headdress feathers show minor softness, and a few small marks determine the grade. Eye appeal is outstanding. PCGS lists 10 finer coins (9/17).
HID02901242017
1929 $5 MS64 PCGS. In the 1920s, and in some regions even earlier, gold coinage had largely become absent from circulation, replaced by gold certificates and federal reserve notes after the establishment of the Federal Reserve System in 1913. Continued coinage of physical gold was largely intended as backing for the paper substitute, as well as for trade and circulation in banks. As such, large denomination double eagles were the production of choice. Half eagles were last coined at Philadelphia in 1915, and in San Francisco in 1916. A rather healthy restart of half eagle coinage in 1929 amounted to 662,000 coins, although almost none of these coins ever reached the general public. The widespread destruction of gold coins in the mid-1930s following a recall order from President Roosevelt turned the high-mintage final-year issue of the Indian half eagle series into one of the most sought-after gold rarities of the 20th century.
The typical surviving 1929 half eagle is Mint State, as one would expect for an issue that experienced almost no active circulation. Although frequently offered at auction, high-grade examples of this issue never fail to draw strong bidding and collector interest. The present coin stands out from its peers with frosty, original luster that shows a blend of champagne and orange-gold hues, with wisps of lavender throughout. The lower headdress feathers show minor softness, and a few small marks determine the grade. Eye appeal is outstanding. PCGS lists 10 finer coins (9/17).
HID02901242017