United States $5 Indian
Grade:  Almost Uncirculated (AU/AU+)
Minted:  1908-1929
Actual Gold Content:  .241875 troy ounce

Commentary: The United States $5 Indian gold piece is a highly elusive coin in all grades, but especially in higher states of preservation.  They were minted from 1908 to 1916, after which the onset of World War I prompted a discontinuation of production by the US mint.  $5 Indians weren't struck again until 1929 - the last and only other year they were minted.  In total, just 15 different dates and mint marks comprise the entirely of $5 Indian production, making it by far the shortest run of all historic U.S. gold pieces produced for circulation.  

The $5 Indian - along with it's $2.5 companion - are unique among American coinage in that they carry an 'incuse' design, meaning the image of the Native American man on the obverse and eagle on the reverse of the coin are set beneath the surface of the coin.   In an interesting bit of history, famed Philadelphia numismatist Samuel Chapman heavily criticized the coin design at the time, suggesting the recessed images would 'harbor dirt and germs', a stigma the coins ultimately carried throughout their commercial monetary use.  The net result is that the roughly 14 million coins originally struck were typically rapidly circulated (owing to the fact that most owners were more inclined to 'rid of them' than collect them).  Such circumstances led to only a fraction of the original mintage avoiding the melting pot in 1933, and even fewer of those surviving into the modern era in high states of preservation.

All said, the combination of a short mintage and an inclination to circulate has made $5 Indians perenially among the highest premium 'common' historic US coins, typically carrying much higher premiums to melt value than any denomination of the Liberty varieties, the $20 St. Gaudens or the larger $10 Indians  - which all adds up to why our February special is likely to be highly subscribed.  This very limited hoard of just 100 coins represents the largest grouping of nearly uncirculated (AU/AU+) $5 Indians we've ever handled, and is being offered at the lowest premium to melt value we've ever seen (such that these are priced competitively with similar sized modern bullion coin issues like 1/4 oz US Eagles).  Orders will be filled on a first-come, first-served basis and strictly limited to availability.  

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