The Indian Head gold coin is one of the most popular gold coins among collectors. Aside from its unique design, it is also less expensive than the other Half Eagles. A 5 dollar gold coin, such as the Indian Head Half Eagle, contains 90% percent gold so that it has a much higher value today than it had during its time of circulation.
Indian Head Gold Coin Trivia
Together with the Indian Head Quarter Eagle, or $2.50 gold coin, the Indian Head 5 dollar gold coin has an incuse design, meaning that most of the design is sunk below the surface of the coin. This design had caused much controversy back in the day. There were claims that such a design is likely to become a hygiene issue by harboring dirt, germs, and disease, but this have been proven to be untrue.
It was produced from 1908 to 1916 then brought back into production and circulation after World War I in 1929, and this was the last time that the 5 dollar gold coin was to be minted for circulation in the US.
Indian Head Gold Coin History
The Indian Head 5 dollar gold coin had a controversial history. It was during the administration of President Theodore Roosevelt recognized the need for the country’s coinage to change for the better. He commissioned the well known artist Bela Lyon Pratt to design the obverse and reverse of the Indian Head gold coin as well as the smaller Indian Head Quarter Eagle.
As mentioned, minting for this 5 dollar gold coin ran from 1908 to 1916, discontinued during WW I and then re-instated in 1929. However, most of those produced on that year did not reach circulation because the majority was destroyed before they even left the mint. This final year of issue for the Indian Head gold coin also marked the end of the line of five dollar gold coins in the history of US coinage.
Indian Head Gold Coin Design
Using the design made by the famous artist Bela Lyon Pratt, Charles Barber who was the US Mint’s Engraver at that time produced the famed Indian Head Half Eagle. The 5 dollar gold coin retained the dimensional properties of its predecessors; all except for the design. It has a diameter of 21.54 mm and weighs 8.36 grams. It has 90% gold and 10% copper with 7.52 grams of pure silver. It has a reeded edge design and on the lower left of the reverse side is the mint mark.
This particular 5 dollar gold coin features the proud profile of a Native American wearing an elaborate war bonnet who is facing left. Surrounding the obverse are 13 stars and the word LIBERTY at the top. At the bottom is the year the coin was minted, and just above this are the initials of its designer, Bela Lyon Pratt.
On the reverse of the coin is an Eagle standing on a bundle of arrows. Circling about the circumference of the coin is UNITED STATES OF AMERICA. To the left of the Eagle is E PLURIBUS UNIM, which means “Out of many, one” and it can also describe an action: “Many uniting into one”. To the right of the Eagle is the motto IN GOD WE TRUST.
As a result of its design, one will have some level of difficulty when it comes to grading the Indian Head Half Eagle, most especially by those unacquainted with its uniqueness. It doesn’t have the usual high spots that you would generally look for wear and tear to come up with an accurate value of the 5 dollar gold coin. If you are looking to buy one of the coins from this series, it’s recommended to make sure that the coin was graded either by the PCGS or NGC.
A 5 dollar gold coin such as the Indian Head gold coin is valuable not only because it contains a good percentage of the precious metal gold, but more importantly, an Indian Head gold coin is a remnant of history, an artifact of a long gone era, therefore an antique.