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Dallas Signature Sale 1373 28-31 Mar 2024
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Indian Half Eagles
1929 $5 MS64+ PCGS. CAC. The 1929 is the famous melt rarity of the Indian half eagle series, struck to the extent of some 662,000 pieces but surviving in numbers of only several hundred coins. It marked the first coinage of the half eagle denomination after 1916, but its production apparently had little to do with commercial need, or that need was dissolved with the stock market crash late in 1929. Gold coinage in general hardly circulated by the 1920s, regardless of denomination. Double eagles mainly served as backing for paper gold certificates or as international trade coins, while quarter eagles found limited purpose as Christmas gifts (gifts that would usually end up back in bank storage within a few months of the holiday season). Half eagles were a forgotten commercial item by 1929, and the only examples of the 1929 mintage that reached public hands apparently went out through the Mint Cashier or in small trickles over the course of several years. By 1933, when President Roosevelt issued his executive order recalling commercial gold coinage, most of the 1929 half eagle production was sentenced to the melting pot.
Today, surviving 1929 half eagles -- mainly in Mint State grades -- are occasionally traded at auction but represent one of the top rarities of the series overall. High-end examples, such as the current coin or the handful of finer pieces known, are in constant demand among specialists. This piece displays satiny peach-gold mint luster and a bold strike, with only minor surface marks discernible beneath a loupe. CAC endorsement and the Plus designation set this coin apart from the majority of its peers.
We have previously handled an MS64+ coin on only five occasions, four of which were CAC endorsed. These coins sold for $60,000 to more than $73,000, but the last one to appear in our auctions was in 2018, some six years ago. The current coin easily matches those prior examples in terms of eye appeal and technical quality, and it represents a rare and important opportunity for Registry collectors who have been patiently waiting for a high-end example of this issue. Arguably, this coin is more comparable to MS65 coins we have seen than to MS64 pieces, and we anticipate appropriately strong bids when it crosses the auction block. Population: 17 in 64+, 14 finer. CAC: 27 in 64, 1 finer (2/24).
https://coins.ha.com/itm/indian-half-eagles/1929-5-ms64-pcgs-cac/a/1373-3109.s?type=DA-DMC-CoinArchives-USCoins-1373-03282024
HID02906262019
© 2024 Heritage Auctions | All Rights Reserved
1929 $5 MS64+ PCGS. CAC. The 1929 is the famous melt rarity of the Indian half eagle series, struck to the extent of some 662,000 pieces but surviving in numbers of only several hundred coins. It marked the first coinage of the half eagle denomination after 1916, but its production apparently had little to do with commercial need, or that need was dissolved with the stock market crash late in 1929. Gold coinage in general hardly circulated by the 1920s, regardless of denomination. Double eagles mainly served as backing for paper gold certificates or as international trade coins, while quarter eagles found limited purpose as Christmas gifts (gifts that would usually end up back in bank storage within a few months of the holiday season). Half eagles were a forgotten commercial item by 1929, and the only examples of the 1929 mintage that reached public hands apparently went out through the Mint Cashier or in small trickles over the course of several years. By 1933, when President Roosevelt issued his executive order recalling commercial gold coinage, most of the 1929 half eagle production was sentenced to the melting pot.
Today, surviving 1929 half eagles -- mainly in Mint State grades -- are occasionally traded at auction but represent one of the top rarities of the series overall. High-end examples, such as the current coin or the handful of finer pieces known, are in constant demand among specialists. This piece displays satiny peach-gold mint luster and a bold strike, with only minor surface marks discernible beneath a loupe. CAC endorsement and the Plus designation set this coin apart from the majority of its peers.
We have previously handled an MS64+ coin on only five occasions, four of which were CAC endorsed. These coins sold for $60,000 to more than $73,000, but the last one to appear in our auctions was in 2018, some six years ago. The current coin easily matches those prior examples in terms of eye appeal and technical quality, and it represents a rare and important opportunity for Registry collectors who have been patiently waiting for a high-end example of this issue. Arguably, this coin is more comparable to MS65 coins we have seen than to MS64 pieces, and we anticipate appropriately strong bids when it crosses the auction block. Population: 17 in 64+, 14 finer. CAC: 27 in 64, 1 finer (2/24).
https://coins.ha.com/itm/indian-half-eagles/1929-5-ms64-pcgs-cac/a/1373-3109.s?type=DA-DMC-CoinArchives-USCoins-1373-03282024
HID02906262019
© 2024 Heritage Auctions | All Rights Reserved