The summer of 1834 would reintroduce the $5 gold coins back into circulation with a reduced weight and fineness for the first time since 1795. With the Director of the United States Mint, Samuel Moore, anxious to get the new coins into circulation while simultaneously withdrawing any pieces from 1795-1834, he commissioned Engraver William Kneass to come up with a brand-new design.
Classic Head, No Motto (1834-1838)
The Classic Head design features Liberty facing left with thick, curly hair and a headband inscribed with the word “LIBERTY.” The date is depicted below her with a circle of 13 stars surrounding her on either side representing the 13 colonies. The reverse depicts a raised wing eagle from the previous issue with “UNITED STATES OF AMERICA” featured along the outer rim of the design in addition to identifying the denomination at the bottom with “5 D.” Although Congress wanted to include the date of August 1, 1834, on each coin, Mint Director Moore preferred to exclude the motto, “E PLURIBUS UNUM,” from the scroll.
A little over 2.1 million Classic Head half eagles were produced between 1834-1838 with the majority produced at the Philadelphia Mint. The new branch mints, Charlotte and Dahlonega, opened in 1838, meaning that the last year of issue for this design featured some of the coins from those mints. Charlotte would mint 17,179 coins while Dahlonega produced 20,583.
In addition to the new design created to bring back into circulation, the withdrawal of older coins was also successful. Approximately $8 million in pre-1834 dated gold $5 coins were melted to produce the Classic Head coinage. While the gold coins were successful at reentering circulation, it was a bad time as far as the economy was concerned. With tensions in the west and the increase of unstable private banks, the government found themselves with a major surplus of prosperity. At the beginning of 1837, panic began, and the depression known as the “Hard Times” would end the Classic Head coinage.
Liberty Head (1839-1908)
The Liberty Head half eagle would replace the Classic Head design in 1839 with Mint Engraver Christian Gobrecht the designer of the Neoclassicism influenced motif. The obverse features Liberty’s hair tied in a bun wearing a coronet with the word “LIBERTY” inscribed. The date is featured below with the thirteen stars around the edge of the design. The reverse depicts a more spread eagle with the wingspan's intent to cover the coin from rim to rim.
Struck from 1839-1908, the Liberty Head half eagle was struck in five different mints during nearly 70-year run, including Philadelphia, Charlotte, Dahlonega, New Orleans, and San Francisco. The mintmarks were placed on the reverse under the eagle and above the word “FIVE,” except for the first year of 1839 when the C and D mintmarks were featured above the date on the obverse. From 1839-1866, the Variety 1 did not feature the motto above the eagle on the reverse. The Variety 2, struck from 1866-1908, featured the motto (IN GOD WE TRUST) above the eagle.
After the debut of the motto on the half eagle in 1866, the demand for large mintages of gold coins increased. More than 51 million coins were produced between 1866 and 1908 with the majority minted in the last 25 years of the design.
Indian Head (1908-1929)
The beginning of the 1900s would see the persistence of President Theodore Roosevelt and his idea of redesigning United States coinage. With the innovation of the nation’s leading sculptor, Augustus Saint-Gaudens, two new coins made their debut in 1907 with considerable praise. The double eagle ($20 gold) and eagle ($10 gold) were the pride of Roosevelt. After their success, he would look to do the same with the half eagle and quarter eagle.
With an influx of new ideas and the push of Roosevelt to improve all aspects of the nation’s coinage, the idea to recess coins would still prove to be quite daring. Introduced to Roosevelt from William Sturgis Bigelow, a physician and art enthusiast from Boston, recessing coins came after Bigelow had seen an incuse relief in Egyptian arts works. The concept intrigued Roosevelt enough that he would commission sculptor Bela Lyon Pratt to prepare coin models and develop the designs.
The Indian Head half eagle would first enter circulation towards the end of 1908. The Indian on the obverse with an eagle on the reverse would be ever present with the unusual relief confusing Americans at first. Despite their mixed reviews, their recessed design helped against heavy wear. On the other hand, grading these issues was tricky.
They were produced from 1908-1916 and then again for one last time in 1929. In 1909, they were minted at four different branches, including Philadelphia, Denver, New Orleans, and San Francisco. However, production was suspended after 1916 and remained that way until 1929 when the half eagle would take its final bow facing the Great Depression.
Source: NGC Coin; The Official 2024 Red Book
