Nearly Mint State $5 Indian Rarity – 1909-O Indian Half Eagle NGC AU58

The New Orleans Mint was the only Southern branch to resume coinage operations following the Civil War. Interestingly, its survival as a minting facility can be attributed in part to the same legislation that brought about the coinage of millions of unneeded standard silver dollars. The Bland-Allison Act of February 1878, called for the Treasury Department to purchase monthly 2 to 4 million dollars worth of silver bullion, and to have it coined into new silver dollars which would largely be stored in government vaults. The sudden demand in coinage operations mandated by the law virtually necessitated the reopening of the branch mint in New Orleans, which resumed coinage operations in 1879.

However, the New Orleans Mint’s days were nonetheless numbered. In 1904, coinage of Morgan silver dollars was discontinued and construction was begun on a modern, high-capacity branch mint in Denver, Colorado. Silver and gold coin production at the Louisiana branch dwindled after 1906, when the Denver Mint opened, and by 1909, the need for continued operations at the Southern facility was virtually dissolved. On April 1, of that year, coinage was suspended, and in 1911, the dismantling of the outdated machinery was begun.

Coinage in the first three months of 1909, prior to operations suspension, consisted primarily of dimes, with more than 2.2 million pieces struck; quarter production amounted to only 712,000 coins, and halves to just 945,400 pieces. The only gold coinage at New Orleans in 1909, consisted of a paltry 34,200 half eagles. Interestingly, this was the first issue of this denomination struck there since 1894.

In addition to its popularity as the only O-mint issue of Pratt’s Indian Head type, the 1909-O half eagle is also a significant key date within the series. The 1929 is rarer in the absolute sense, but in Mint State, the 1909-O is the less often seen coin.

Offered at $16,700 delivered

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1909-D Indian Eagle PCGS MS66

One of the Finest Survivors

Ex O’neal. The 1909-D is one of the scarcer issues among early ten-dollar Indians, and is much more challenging than its mintage of 121,540 pieces would seem to indicate. David Akers contends in A Handbook of 20th-Century United States Gold Coins that it is one of the most underrated issues in the series, and is actually one of the rarest in an absolute sense. “Even in MS60 this issue is very rare and in MS63 or MS64 condition, it can be located only with great difficulty,” says Akers. The PCGS population is only 4 with 2 higher. 

Offered at $47,800 delivered

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1909 Saint Gaudens Double Eagle PCGS MS65+

The Philadelphia Mint struck a smallish production of 161,282 Saint-Gaudens double eagles in 1909, split between the normal date and 1909/8 overdate varieties. A large number of lower Mint State examples surfaced in a European hoard some time ago, but the 1909 remains elusive in MS65 condition, and finer examples are prime condition rarities. This is a highly attractive example with a PCGS population of just 4 with 7 higher.

Offered at $39,675 delivered

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1909-D Saint Gaudens Double Eagle NGC MS65+

This Saint is Tough!

The 1909-D Saint-Gaudens double eagle is a better date, due to its small mintage of 52,500 coins. The surviving population is estimated at roughly 1,200 coins, of which the finest pieces either came from South American holdings or were preserved by a few numismatists from the Mint Cashier. European coins were usually jostled in storage, making low grades the norm from that source. The NGC population is a mere 1 with 2 higher.

Offered at $33,925 delivered

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1909-O Indian Half Eagle NGC AU58

Nearly Mint State $5 Indian Rarity

The Indian Head design quarter eagles, half eagles, and eagles were, with a single exception, minted at Philadelphia, Denver, and San Francisco. The one exception, of course, is the 1909 Indian half eagle coined at New Orleans. Total production for the issue was just 34,200 coins. Additionally, the issue appears to be the object of heavy collector demand and this is an ideal grade for collector consideration.

We have three coins available…

Offered at $13,800 delivered

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1909 Indian Eagle PCGS MS65

Pleasing to the Eye

Among Indian eagles from the Philadelphia Mint, the 1909 issue is one of the most challenging to locate in high grade. From a business-strike mintage of 184,789 pieces, most of the coins were either released into circulation, where they suffered the usual wear and attrition, or were held in government storage until they were melted in the 1930s. Today, the 1909 Indian ten dollar is rare in MS65 condition, and finer coins are even more elusive. The PCGS population report is 18 with 15 higher.

Offered at $13,800 delivered

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Very Rare Mint State 1909-O Indian Half Eagle NGC MS62

The 1909-O half eagle is distinctive in several ways: it is the final gold issue produced at the New Orleans Mint, it is the sole O-mint Indian Head type coin, and it has the lowest circulation-strike mintage (34,200 pieces) of any date in the Indian half eagle series with a proportionately low survival rate in high grade. About Uncirculated examples are scarce, and Mint State representative through MS62 are extremely challenging. Pieces grading finer than this are genuine rarities, and Gem-quality coins are virtually uncollectible. The NGC population stands at just 26 with 17 higher. Listed at $62,900 in the CDN CPG, $73,500 in the NGC price guide and $65,000 in Trends.

Offered at $54,500 delivered

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