1863 Coronet $5 Half Eagle

The coining presses at the Philadelphia Mint were busy in 1861. Among its prodigious output were 688,084 half eagles, the largest mintage ever up to that point for a U.S. coin of the $5 denomination.⁽¹⁾

The American Civil War began in April 1861. As hostilities mounted in the coming months and the reality of a terrible war set in, gold and silver coins were hoarded by the public out of fear of the unknown.⁽²⁾

In late 1861, Northern banks suspended gold specie payments, further curtailing bullion deliveries to the Philadelphia Mint. Half eagle production fell to just 4,430 pieces in 1862.⁽³⁾⁽⁴⁾

As news from the warfront remained dismal, half eagle mintage plummeted to less than 2,500 in 1863. Of that small original number, only about three dozen survivors are known today.⁽⁵⁾

In recent years, the 1863 Coronet half eagle has awakened from its slumber in terms of price hikes and can no longer be called a “Sleeper Coin.” Although prices for the 1863 have never been higher, collectors with a long-haul mindset should not hesitate to pounce when this rare Civil War era relic hits the auction block.

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