Indian Head $5 gold half eagle (1908–1929) melt value
The Indian Head half eagle is a US $5 gold coin designed by Bela Lyon Pratt and made from 1908 to 1916 and again in 1929. It is 90% gold and holds just under a quarter of a troy ounce of pure gold. Like other pre-1933 US gold, it usually sells above its melt value, and the 1909-O and 1929 are worth far more, so check with a coin dealer before selling one for its gold. Here's what the gold inside is worth at today's live price.
Show the math
Related coins
All coins →Common questions
How do I know if my indian head $5 gold half eagle is gold?
The design is sunk into the coin instead of standing up from it, so the highest point of the coin is the flat rim. It is one of only two US circulating coins made this way; the other is the Indian Head $2.50 quarter eagle, which has the same design but is smaller (18 mm). The front shows a Native American man in a feathered headdress facing left, with LIBERTY above and the date below. The back shows a standing eagle on a bundle of arrows and the words FIVE DOLLARS. It measures 21.6 mm across and weighs about 8.36 grams. A small D, O or S mint mark sits on the back, to the left of the arrowheads; Philadelphia coins have none. No half eagles were made from 1917 to 1928. The earlier Liberty Head half eagle (1839–1908) shows a different design.
Why does a dealer pay less than melt value?
Dealers need room to cover refining, shipping and resale costs, so most pay a percentage of melt value for common-date coins.
Is it legal to melt coins?
US rules prohibit melting one-cent and five-cent coins. That rule does not cover dimes, quarters, half dollars, dollars or bullion coins. Most people sell coins whole to a dealer rather than melting them.