$5 Half-Eagle, Indian Head Type

The $5 Indian Head Half Eagle is one of the most distinctive and unconventional gold coins ever issued by the United States Mint. Introduced in 1908 and produced through 1929, it broke from traditional coin design with its incuse (sunken) relief—a feature not seen in any other circulating U.S. gold coin. Designed by sculptor Bela Lyon Pratt as part of President Theodore Roosevelt’s movement to elevate American coinage, the Indian Head Half Eagle features a bold and symbolic design rooted in national identity. Despite initial public hesitation, the coin has grown into one of the most collectible pieces in U.S. numismatic history.

Key Features:

• Purity: Each $5 Indian Head Half Eagle is composed of 90% gold (21.6 karats) and 10% copper, providing both durability and a classic gold appearance. The coin contains 0.2419 troy ounces of pure gold, making it a practical yet substantial piece of U.S. gold currency.

• Design: The obverse presents a left-facing Native American chief in a detailed feathered headdress, with “LIBERTY” inscribed above and 13 stars surrounding the portrait. The reverse features a perched bald eagle standing on a bundle of arrows and an olive branch, accompanied by the mottos “E PLURIBUS UNUM” and “IN GOD WE TRUST.” Unlike most U.S. coins, both sides of the Indian Head Half Eagle are struck in incuse relief—where the design is recessed into the coin rather than raised.

• Denomination: Bearing a face value of $5, the Indian Head Half Eagle was used in circulation primarily for banking, payroll, and commerce. Its denomination served a functional role in early 20th-century financial life, especially in the western United States.

• Legal Tender: Issued as legal tender by the United States Mint, the $5 Indian Head Half Eagle circulated widely before gold coins were removed from everyday use in 1933. Though no longer used in commerce, it remains a legally recognized U.S. gold coin and an enduring part of America’s monetary history.

• Collectability: The Indian Head Half Eagle is cherished by collectors for its unique incuse design, artistic originality, and relatively low mintage figures. It was minted at several locations, including Philadelphia, Denver, New Orleans, and San Francisco, with branch-mint issues often commanding higher premiums. Coins in higher grades are especially scarce due to the difficulty of preserving detail on incuse-struck coins. As a one-of-a-kind series in U.S. coinage, the $5 Indian Head Half Eagle is a standout for any collection focused on classic American gold.

Bold in concept and design, the $5 Indian Head Half Eagle is a testament to early 20th-century innovation and remains one of the most fascinating and collectible U.S. gold coins ever struck.