A remarkable well-preserved 1909-O Indian half eagle PCGS MS62 will be feature in the upcoming Houston Money Show US Coins Signature Auction on December 3-6. The surfaces display softly luminous mint frost, a feature that is notably lacking on most 1909-O fives.
The strike is also notably strong, especially for the issue, with complete detail on the bottom feather in the headdress and a strong, fully rounded mintmark. The luster is blatantly original, showing coppery-orange overtones atop yellow-gold surfaces – as Fuljenz writes: "On the small number of naturally toned pieces, the hues range from green-gold to orange-gold." Because of the luster and uniformly strong strike seen on this coin, the CAC endorsement on the slab is obviously well-deserved. The only limitations on the grade are a few medium-sized abrasions in the reverse fields.
The 1909-O half eagle is distinctive in several ways: it is the final gold issue produced at the New Orleans Mint, it is the sole O-mint Indian Head type coin, and it has the lowest circulation-strike mintage (34,200 pieces) of any date in the Indian half eagle series with a proportionately low survival rate in high grade. About Uncirculated examples are scarce, and Mint State representative through MS62 are extremely challenging. Pieces grading finer than MS62 are genuine rarities, and Gem-quality coins are virtually uncollectible.
In addition to its rarity in Mint State, the 1909-O five dollar is inherently difficult to locate with what most numismatists would consider pleasing eye appeal. Doug Winter (2006) attributes this to the fact that "most have been cleaned and otherwise poorly handled." Mike Fuljenz (2010) seconds this assessment: "The luster on this issue is below average with a frosty, somewhat dull texture most often seen. ... Almost every known example has been cleaned or dipped at one time and no longer display natural coloration." Consequently, any original high-grade example is always in demand.
This coin is open for bidding now at www.HA.com/coins.
