By 1864, the Civil War had left an indelible imprint on the future of American coins and currency. One of the major consequences was the hoarding of precious metal, and the Union government had little bullion to mint in the East. The half eagle production for 1864, for example, amounted to just 4,100 pieces. That issue is one in a string of low-mintage P-mint issues from 1862 to 1872.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.