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: 42549447

Description

A major rare coin ICON!!! This is a Choice Uncirculated major gold rarity! Gold coins were last made for circulation in 1933. That’s the year of the last $10 Indian and $20 St. Gaudens. The last year for $2.5 and $5 Indians was 1929. At the time (late 1920’s/early 1930’s), gold coins were either being hoarded or used for payments for international commerce. The government wrongly thought that the lack of gold coins circulating was one of the causes of the Great Depression. They rightly thought that gold was stopping the Fed from increasing the money supply. So President Roosevelt, by Executive Decree, recalled all gold coins in circulation and made it illegal for U.S. citizens to own gold. Minting of gold coins after 1929 was somewhat substantial. But few were actually released for circulation and fewer still survive today. All of the post-1928 gold coins are significant rarities in all grades. The last $10 Indian (1933), is one of the most important U.S. gold coin rarities. The last $20 St. Gaudens (1933), is one of the most famous coin rarities in the world, and actually one just sold in auction for a record price of $18.8 million! For the $5 Indian, the 1929 is not that kind of rarity, but it is considered a 20th Century classic and it’s extremely desirable as the last year of issue for the $5 Indian series. Interestingly, $5 Indians were only struck between 1908 and 1916. Then none were struck until 1929. Very few 1929 $5 Indians were released for circulation. Most were held at the Mint and then melted along with other recalled gold coins in 1937. The melted coins were turned into gold bars and stored at Ft. Knox. Today, the 1929 $5 Indian is one of the more famous United States gold rarities. This specimen is a Gem Uncirculated beauty. The surfaces are clean, the strike is sharp, and the luster is fresh and original. This is one of only 13 examples graded Gem MS65 by PCGS in the past ,36 years (about one every three years), and none have ever been grade higher. This is definitely the nicest we’ve ever seen and one of the finest known examples of this classic gold rarity.…A great gold rarity to buy and “put away”…an iconic coin rarity…a “Forever Coin!


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