A remarkable collection of U.S. gold coins from an unnamed Midwestern family that had been off the market for decades led Ira and Larry Goldberg Auctioneers’ June 5 and 6 pre-Long Beach Auction in Los Angeles.

The collection was especially strong in 19th and early 20th century Coronet gold and Indian Head $2.50 quarter eagles, $5 half eagles and $10 eagles. Rounding out the group was a collection of gold commemorative coins that injected some excitement in the Long Beach Coin, Stamp & Sports Collectibles Expo held later that week. 

Here is one of three gold coins from the collection we're profiling in this week's Market Analysis. 

The coin

1909-O Indian Head gold $5 half eagle, MS-65, CAC

The price

$517,000

The story

A 1909-O Indian Head gold $5 half eagle graded PCGS MS-65 with a green CAC sticker was another leader from the prominent Midwestern family’s collection. It is considered as possibly the second finest known example in the marketplace, after another example graded PCGS MS-66 that sold for $646,250 when offered at Heritage’s 2014 Florida United Numismatists auction in Orlando. Falling in between those two is a top-quality 1909-O half eagle that is part of the National Numismatic Collection at the Smithsonian Institution and is permanently off the market.

COIN VALUES: How much is your 1909-O Indian Head $5 worth?

The rarity is a product of the last year of the New Orleans Mint and only a small fraction of the 34,200 examples minted survive. It is the only Indian Head half eagle struck at the New Orleans Mint and while circulated examples are available, Mint State survivors finer than MS-62 are rare, as most issues were released into circulation.

Keep reading this Market Analysis:

Rounded Rim 1907 Indian Head gold $10 eagle avoided melting pot

1933 gold coin that is not a double eagle approaches $1 million sale price

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