Coin Collection – US $5 Gold Pieces
The $5 gold piece (Half Eagle) shares with the $10 gold piece (Eagle) the distinction of being the first gold coin produced in the United States. Half Eagles were made almost uninterruptedly from 1795 to 1929 (but none was produced in 1801, 1803, 1816, or 1817, or from 1917 to 1928). Rare dates in the series include the 1815, 1822 (uncollectible), 1825/4 (only two are known), 1828/7, 1829 large date, 1832 12 stars, 1854-S, the low mintage 1875, and the proofonly 1887.
Completing a set of the five major types listed in this section is easy, although the first two types tend to be a bit pricey. A meaningful collection of different dates can be built at reasonable prices, but you really need to be a multimillionaire and know that you’ll live to be 200 years old before tackling a complete date set.
Turban Head $5 gold piece (1795–1807)
This type is a larger version of the $2.50 gold piece (see the “$2.50 Gold Pieces” section, earlier in this chapter) and also comes with either a plain eagle or an eagle and shield on the backs of the coins. In fact, the backs (or reverses) of the coins cause some confusion unless you’re familiar with some of the minting practices of the early U.S. Mint. For example, one of the rarest varieties of this type is the 1798 with a plain eagle reverse. Such a coin is not even supposed to exist, because the plain eagle reverse was last used in 1797. On the other hand, another puzzler is the 1795 with an eagle-andshield reverse. This coin was two years ahead of its time — the eagleand- shield reverse did not make its first regular appearance until 1797. Experts believe that these unusual coins were made under emergency conditions with dies left over from earlier years.
Capped Bust $5 gold piece (1807–1834)
Don’t let this relatively short series fool you — stuck in between many of the common dates are some of the most revered and valuable U.S. coins. Only three 1822 Half Eagles are known, and none is currently available for sale. The 1825/4 overdate is known by only two examples, but (thankfully) collectors have an alternative in the far less expensive 1825/1 overdate. The 1829 large date is extremely rare, the 1815 has an extremely low mintage, and, for some reason, the higher-mintage 1819 is a rare coin as well. Despite the daunting challenges, you can still purchase nice examples of this type for relatively reasonable prices. The three major types are Capped Bust left (1807–1812), Capped Head left large size (1813–1829), and Capped Head left small size (1829–1834).
Classic Head $5 gold piece (1834–1838)
Liberty-head $5 gold piece (1839–1908)
Indian-head $5 gold piece (1908–1929)
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