Classic Head $5 (1834 – 1838)

#1 Classic Head $5 Buyer Las Vegas & Henderson

History

Made initially with slightly less than 90% gold, (the composition actually being .8992 of gold and later changed to 90% in 1837, the remainder being silver and copper for durability ), the Classic Head five dollar gold coin was minted from 1834 until 1838. Due to the fact that the prior Draped Bust series actually had more gold value than its denomination, those coins were taken out of circulation and hoarded. The Classic Head, as a replacement, was reduced in weight by 5% and was quickly accepted into daily commerce. By far the shortest five dollar gold series it lasted only five years with a total of only eight different dates and mintmarks. This five dollar gold piece was however minted in the Philadelphia, Dahlonega and Charlotte mints making it a unique and unusual series that has become popular with collectors given the reasonable possibility of putting together a complete collection and the fact that two of the long since closed branch mints are represented in this series. Gold coins being minted at these branch locations were in direct response to the significant gold finds in those areas. The five dollar gold coin is referred to as a “Half Eagle” as a shorthand term for the coin indicating it is half the denomination of an “Eagle” or ten dollar coin.

The design of the Classic Head coin changed the bust of Liberty and gave it a Greco-Roman or “classic” look. The obverse or front of the coin displays a bust of Liberty with her hair in curls and running down her neck. The word “Liberty” appears on what appears as a headband across her forehead. Thirteen stars surround Liberty’s head to represent the original thirteen colonies and the mintmark and date of mintage appears just below the bust. The reverse of the coin displays an eagle with wings outstretched and a shield on its chest. The eagle is clutching a branch in one talon and arrows in the other. The denomination appears below the eagle.

Besides the gold content, factors that determine the value of the Classic Head gold coin include variety, scarcity and condition. The five dollar Classic Head gold piece was 22.5 mm in diameter and had a total weight of 8.36 grams. They were made with almost 90% gold, therefore one aspect of their value is based purely on that gold content. Their intrinsic value is tied to the gold content, which is approximately 0.24187 of a troy ounce. As a result, they will always be worth an amount equal to their gold weight consistent with the current gold spot price or “melt value”.

Prices for common date coins are typically just under a thousand dollars in extra-fine condition. The branch mint coins of the Dahlonega and Charlotte mints however carry a substantial premium. These coins also have the lowest mintages and are often quite valuable with prices reaching the tens of thousands up to a hundred thousand dollars in high mint state. An exceptional conditioned proof 1835 sold for almost $700,000 in 2005.

Value

Because there are so many varied opinions on the condition (or grade) of a coin, the values mentioned reflect the highest retail prices that have been obtained for those coins that have been assessed by a third party grading company. Such coins have been authenticated, graded and encapsulated by expert coin grading companies to minimize any doubt as to their authenticity, quality and value and therefore their potential worth.

We Buy Classic Head Five Dollar Gold Coins

We want to buy your coins and as a business it is our pledge to offer you the best value for your coins, however, always remember that the prices you may find online or in price guides usually represent the highest retail value for the coin in an already certified condition. As a trusted dealer we will have our coin specialists evaluate your coins at no cost and offer you a price that is both fair for you, but that also allows us to realize a reasonable profit.