1889 Liberty Head $5 Half Eagle

1889 Liberty Head half eagles were made only at the Philadelphia Mint, and in tiny quantities at that. However, it was not a proof-only year at the Philly Mint, such as in 1887, when the main mint struck just 87 proof $5 half eagles. In the year 1889, the bulk of $5 half eagle manufacture centered on business-strike coins, of which 7,520 were produced. Meanwhile, an additional 45 were struck as proof coins, bringing the total number of 1889 half eagles to 7,565.

What is surprising about the 1889 half eagles is the fact that they can be bought for as little as $826 in a grade of Very Fine 20. Proof 63 specimens, on the other hand, go for $14,000 or more. It should be remembered that only a small fraction of the original business-strike and proof outputs survive to this day, as many of these coins have been melted down or have otherwise been lost through attrition in circulation.

Really, this information can be extended to include all pre-1933 U.S. gold coinage, which was melted in huge numbers over the years, leaving behind relatively few survivors. While numismatic coinage is highly collectible, its bullion appeal stems from the substantial amount of gold in 1889 half eagles, which contain 0.24187 ounces of the yellow metal.