Description and Analysis
Indian Head $5
1929 $5 MS
Description & Analysis
The 1929 Indian Half Eagle had a mintage of 662,000 pieces. This is much more substantial than many earlier years which are worth much less. However, half eagles had not been produced for 13 years, meaning demand from the public was simply not there for this coin.
Due to this lack of demand, the 1929-dated coins languished in bank vaults until the ownership of gold was made illegal in 1933. When this happened, many 1929 half eagles were melted, which led to the extreme rarity we see today. So far, NGC has only graded 5 in MS65, with none higher.