1836 $5 Classic Head Half Eagle, HM-2 PCGS AU53

Here’s a historic piece to include in your numismatic holdings. The Classic Head $5 was the creative invention of U.S. Mint Chief Engraver William Kneass after the passage of the Coinage Act of 1834. PCGS has graded 1 of the HM-2 variety in AU53 with 1 finer. Overall, PCGS graded 107 of the 1836 $5 Classic Head half eagle as AU53 with 292 finer. Collectors Universe prices this issue at $2,500.00 in AU53.

The Second U.S. Mint in Philadelphia, where this piece was struck in 1836. Photo: Wikimedia Commons.

Contemporary U.S. gold coins--with a bullion value in international markets that surpassed their face value in silver--were frequently the object of melting during the pre-1834 period. The one series of gold coins that saw the most elimination through melting at that time was the $5 Capped Head half eagle of 1813-1834. However, the Mint Act of 1834 dramatically altered that practice, striking gold coins that were reduced in weight so that they would circulate--which had never happened since gold coins were first produced in 1795.