Where are the1909-O Indian Half Eagles? — Welcome to the CAC Educational Forum
›

Where are the1909-O Indian Half Eagles?

mulberrymanmulberryman
in Gold Coins

According to mintage figures, 34,200 1909-O $5 were minted in New Orleans. PCGS has certified 1416 over all grades. NGC about 1010. Total 2426 out of 34,200 or 7%. Where is the other 93%?  In unc. condition, it appears to be quite rare with very high prices. Seems a bit odd that so few survived considering that it is the only Indian half eagle produced at the New Orleans mint and it happens to be one of the last coins actually produced there until the mint closed in 1909. Seems like way more would have been saved under those circumstances. By contrast, the 1929 Indian Half eagle had 662,000 produced and it is perhaps more rare than the 1909-O. PCGS 783 with NGC at 223 totaling 1006 or less than 1%. According to coin facts, most 1929-O half eagles were stored by the Treasury Department and melted in the 1930s. However, that doesn’t appear to explain the 1909-O scarcity. If they were also melted in the 30s then why would there be so many half eagles from the intervening years available? Probably a few not certified (or otherTPG) out there but still seems most 1909-O’s are long gone. In checking Collectors Corner, only 8 are available, with 1 MS65 at $687,500. Any one have any thoughts on this? 

Comments

  • TheCoinHoundTheCoinHound
    The 1929 is the worst possible comp because they were not realeased for circulation, at least not in any meaningful quantity. Just like the 1929 Saint. Try comparing survival rates to the 1908-S or the 1911-D for a more realistic comp. (Common dates aren't as useful because so many survivors are not worth slabbing.)
Sign In or Register to comment.