Indian Half Eagle

Legendary 1929 Indian Half Eagle

1929 Indian Half Eagle. Unc Details--Cleaned (PCGS).

Offered is a rather attractive Mint State example of this well known rarity from the final year of the Indian half eagle series. Vivid reddish-rose surfaces are boldly to sharply struck throughout the design. A curiously bright satin to semi-reflective appearance helps to explain the PCGS qualifier, but both sides are pleasingly smooth in hand and present quite nicely for the assigned grade. The 1929 is the first half eagle struck since 1916, is the last issue in the Indian series, and is also the final circulating five-dollar half eagle produced by the United States Mint. It is the rarest Indian half eagle in terms of total number of coins extant. The final-listed fact may come as a surprise to some readers for, with 662,000 coins struck, the 1929 has one of the higher mintages in this series. In fact, only the 1909-D, 1910-S, 1911, 1911-S, 1912 and 1913 were produced in greater numbers. As with so many classic U.S. coins, especially among 20th century gold types, the number of coins struck is often a poor indicator of the availability of examples in today's market. More significant in this regard is the distribution of the coins after they were produced. In the specific case of the 1929 half eagle, we are confident that virtually the entire mintage remained in federal vaults until the Gold Recall of 1933 halted further distribution of such pieces. In 1937 all gold coins that remained in government hands or were returned through the recall were melted, creating a number of rarities among late date Indian half eagles and, especially, Indian eagles and Saint-Gaudens double eagles. Perhaps not surprisingly for an issue that was not released into commercial channels in quantity, most 1929 half eagles extant are Mint State. The finest survivors were likely obtained directly from the Mint or Treasury Department by contemporary numismatists. A few AU examples are known, however, and with an extant population of 400 to 500 coins in all grades a small quantity of 1929 half eagles seems to have been survived the recall by being shipped overseas to pay for international transactions. Repatriated in later years, these coins constitute the majority of survivors of this elusive key date issue.

PCGS# 8533. NGC ID: 28E2.

From the Collection of Silas Stanley Roberts, 1888-1966.

Estimate: $ 25000