1929 $5 MS 65

  • $110,000.00


PCGS No: 8533
Type: Indian $5
Year: 1929-P
Denomination: $5
Category: Indian $5 (1908-1929)
Grade: MS 65
Certificate Number: 40556070

Description

A true gold coin market icon! The 1929 $5 Indian is one of the most important 20th Century gold coins and it has been considered a rare coin market icon since it first appeared in a coin auction in 1936. During the mid to late 1920's and early 1930's, gold coins did not circulate very much in this country. In fact, the lack of gold coins in circulation was one of the excuses President Roosevelt used to recall all gold coins and make gold ownership illegal. Most of the later issues were either hoarded or exported. For $2.5 Indians, they were minted every year from 1925 to 1929. For $10 Indians, coins were only minted after 1920 in 1926, 1932, and 1933. For $20 St. Gaudens, coins were minted in most years through 1933, but they weren’t used commercially and all issues after 1928 are considered great rarities today. The $5 Indian series is similar. After 1916, the only year in which $5 Indians were struck was 1929. There must have been some demand as the Mint made quite a few. However, very few were released and most were melted at the Mint. Today, it is estimated that as few as 150 coins exist in all grades. Gems are extremely rare and in 36 years, PCGS has only graded 12 examples (including this beauty) MS65 with none ever graded higher. The 1929 $ Indian is highly desirable as the last year of issue for the $5 Indian series, and as a coin from the period of great gold coin rarities circa 1929-1933. We considered this a “forever coin”! This is a totally original Gem. The surfaces are very clean and the luster is bright and flashy gold. It is a marvelous specimen of this gold coin icon!


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