1862 Half Eagle (1862 $5) NGC AU55. Civil War Date. 1862 $5 Liberty Head, No Motto, Half Eagle. As hopes for a quick resolution faded and the divided nation settled into bloody struggle, a nervous population began hoarding hard money (gold and silver coins). As a result, the United States Mint in Philadelphia responded by reducing the mintage of coins and the half eagle saw a robust mintage of 688,084 in 1861 drop to just 4,430 in 1862.

An unintended consequence was the creation of a numismatic rarity that would be avidly sought by collectors and investors nearly 150 years later. With just 14 in grade and 12 pieces graded higher at PCGS/NGC respectively, this Civil War issue is one of the rarest half eagles produced by the Philadelphia Mint and is difficult to locate across all grades. It has scarcely been seen at auction over the past two decades in any condition.

The specimen offered here is as attractive as it is rare. Strikingly original and untouched, luster still remains about the well struck devices beneath a green gold and orange patina. The result is terrific eye appeal and a piece that looks as if it just exchanged hands between soldiers at Gettysburg. Civil War issues are increasingly sought and with the Sesquicentennial of the Civil War rapidly approaching in 2011, rare and desirable pieces such as this will disappear from the market. This is a prime opportunity for the connoisseur of rare gold or the Civil War historian to acquire an extremely rare piece few will ever the chance to own.