1929 Indian Half Eagle. MS-64 (PCGS).This is a gorgeous Choice Uncirculated survivor of the fabled 1929 Indian half eagle. Bathed in a bold blend of frosty mint luster and vivid rose-gold patina, both sides are sharply struck with outstanding visual appeal. A find for the advanced 20th century gold collector that would serve as a highlight in even the finest cabinet.<p>This final year Indian half eagle issue is an excellent case study in how using the mintage figures of gold coins from the 1920s and 1930s as an accurate predictor of rarity is fraught with great difficulties. In 1916, production of the half eagle was suspended after only 240,000 coins were struck at the San Francisco Mint. It would not be until 1929 that production of this denomination resumed, this time only at the Mints main facility in Philadelphia. While 662,000 half eagles were struck that year, the nation was in the midst of the economic turmoil that would soon explode into the Great Depression. With gold simply not needed in circulation under such circumstances, very few 1929 half eagles were actually distributed into commercial channels. Virtually the entire mintage languished in Treasury Department coffers until the great coinage melts of 1937, when they went straight into the Mints crucibles to become ingots. These melts even claimed many of the few examples that had been released into circulation, for most had been returned to the Treasury after the implementation of the Gold Surrender Order in 1933. With so few examples used in everyday commerce, it is little wonder that circulated examples are significantly rarer than their elusive Mint State counterparts. Whats more, most Uncirculated coins are confined to the lower end of the grading scale due to bagmarks acquired while being jostled about in heavy bags.<p>The 1929 half eagle has long been recognized as the prime rarity in the circulation strike Indian series, and it has captivated dedicated collectors of Bela Lyon Pratts evocative design for generations. David W. Akers noted nearly 40 years ago that, "If anything exists that is better than MS-65 I have not seen or heard of it." Today, this situation remains as true as it was then; not a single specimen has since surpassed the Gem Mint State level. The present example is superior to most and, with abundant eye appeal, it is sure to please even the most discerning numismatist.From the Claudia St John Collection.
