Photos used with permission and courtesy of Heritage Auction Galleries

Description:
First minted in 1839, the Liberty Head half eagle, sometimes called the Coronet Head because of the coronet worn by Liberty, is considered a continuation of the influence of Neoclassicism style first seen on the half eagle in 1834. The Christian Gobrecht modification of William Kneass’ Liberty portrait was to last almost 70 years nearly unchanged, until replaced by the Bela Lyon Pratt Indian Head style in 1908. The last significant change to the Liberty Head design occurred near the end of the Civil War. During that conflict religious feeling was ascendant; few families were untouched by the mayhem and uncertainty that accompanied the war’s prosecution. Just a few weeks before the euphoria of Robert E. Lee’s surrender at Appomattox, which was followed a few days later by the horror of President Abraham Lincoln’s assassination, The Act of March 3, 1865, mandated the placement of IN GOD WE TRUST on all coins large enough to accommodate the inscription. The year 1866 saw half eagles minted both with and without the motto.

Due to hoarding and general uncertainty regarding the nation’s future, hard money circulation had all but ended during the War. The scarcity continued afterward, minimizing the need for large mintages of gold coins. However, by 1878 banks and the government resumed specie payments, half eagles were in demand, and the Mint produced large numbers of the coins. Other than in 1873 (a year of high mintage apparently due to recoinage of worn and obsolete gold pieces deposited by the Treasury), in no year from 1866 through 1877 was the total half eagle output greater than 100,000 coins; in 1875 and 1876, each year’s output was fewer than 25,000 pieces. Production surpassed one million coins for the first time in 1880 when over 4.5 million pieces were minted. Though not consistently at that level in subsequent years, mintage of Liberty Head With Motto half eagles dated from late 1870s forward was high enough that the dates are considered reasonably common today, but scarce or rare earlier than that. Proofs were made in every year of the type, but not until the mid 1890s did production reach 100 or more coins. Only proofs were minted in 1887.

On the obverse a classical Liberty faces to the left, hair bundled at the back and secured with a beaded tie, but with two strands of hair cascading down the side and back of the neck. The word LIBERTY stretches across a coronet resting above her forehead. Thirteen six-point stars encircle just inside a dentilled rim, and the date is centered at the bottom. The reverse displays an eagle with outstretched wings and a shield over its breast. The eagle clutches an olive branch in its right claw (viewer’s left) and three arrows in the left claw, though fletching is visible for only two of the arrows. UNITED STATES OF AMERICA, broken into three parts by the eagle’s wing tips, follows the periphery. The denomination of FIVE D. at the bottom completes the circle of text, separated from the U of UNITED and the last A of AMERICA by a centered dot on each side. Above the eagle, below STATES OF, is a curved banner displaying IN GOD WE TRUST. Liberty Head With Motto half eagles were minted at Philadelphia (every year except 1887), San Francisco (all years except 1889-1891, 1907-1908), Carson City (1870-1884, 1890-1893), New Orleans (1892-1894), and Denver (1906-1907); S, CC, O, and D mintmarks are located above FIVE D., below the eagle.

Several thousand business strike Liberty Head With Motto half eagles are listed in census/ population reports, more from 1878 forward, particularly those minted at Philadelphia from the late 1890s through the end of the type. Carson City, New Orleans, some San Francisco dates, and varieties are generally not as common. Several prooflike pieces have been certified. Most examples minted prior to 1878 are expensive as XF40 and finer, very expensive as MS60 and finer. With Motto half eagles minted at Carson City and New Orleans are expensive to very expensive, with some dates extremely expensive finer than MS64. With a few exceptions, Philadelphia half eagles minted later than 1878 are moderately priced through MS62, expensive to very expensive finer. Higher priced examples include 1870-CC, 1873-CC, 1875, 1878-CC, and most Gem and finer pieces. A few hundred Liberty Head With Motto proof half eagles have been certified, including Cameo and Deep Cameo examples. For many dates prior to the late 1880s fewer than 25 coins are listed in census/ population reports. Proofs from every year are expensive to very expensive, with a few extremely expensive as Gem and finer. Higher priced pieces include those proof half eagles minted prior to 1880, particularly the 1875 pieces, and 1887.

Specifications:
Designer: Christian Gobrecht; motto scroll by James B. Longacre
Circulation Mintage: high 5,708,802 (1881), low 200 (1875; none in 1887)
Proof Mintage: high 230 (1900), low 20 (1874, 1875, 1877, 1878)
Denomination: $5.00
Diameter: 21.6 mm, reeded edge.
Metal Content: 90% gold, 10% copper
Weight: 8.36 grams
Varieties: Several known including 1873 Close 3 and Open 3; 1881 Final 1 Over 0; 1901-S, Final 1 Over 0; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Encyclopedia of U.S. Gold Coins 1795-1933, Jeff Garrett and Ron Guth, Whitman Publishing.
Gold Coins of the New Orleans Mint: 1839-1909. Douglas Winter. Zyrus Press
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 07/07/2009

Goodacre Presentation Finish – Photos used with permission and courtesy of Heritage Auction Galleries

Description:
Dollar coins in general did not actively circulate in this country. Even the large silver “cartwheels” tended to have more value as bullion than they did as a means of commerce. Except for western and some southern states, where the coins saw use in day-to-day business, silver dollars rarely left bank vaults except when requested for use as gifts or prizes. The last silver dollars for general circulation were minted in 1935, with the denomination resurrected in 1971 in the form of the Eisenhower dollar, which in turn was replaced by the Susan B. Anthony dollar in 1979. The latter coin marked a change in the physical size of the dollar, no longer Morgan-dollar sized, but reduced to the approximate size of the quarter. “Susies” were produced for only four years, continuously through 1981, and then again in 1999. In contrast to the general public, who soundly rejected the concept, Congress nonetheless remained enamored of the dollar coin, initiating a process for minting new dollars by passing the United States Dollar Coin Act of 1997. This act seems to have prompted the last issue of the Susan B. Anthony dollars because of concern that with promotion of a new dollar coin, demand would increase to the point that a shortage would occur before those new dollars were minted.

To avoid confusing the new dollar with quarters, one of the reasons the Anthony dollar was unpopular, the law specified that the new dollar coin be designed so as not to look like a quarter. Treasury Secretary Robert E. Rubin created a Dollar Coin Design Advisory Committee to evaluate design concepts, specifying that the new dollar represent one or more women, though not any living person. In June, 1998, the committee recommended that the obverse represent Sacagawea, a Native American Shoshone woman who was interpreter and guide to Meriwether Lewis and William Clark on their exploratory trek to the Pacific Ocean. Artist Glenna Goodacre created the obverse design, showing Sacagawea (in three-quarter profile) carrying her infant son Jean Baptiste on her back. Though no portrait of Sacagawea is known, Goodacre used as a living model Randy’L Teton, a modern woman from the same tribe. The reverse was designed by U.S. Mint Sculptor/ Engraver Thomas D. Rogers Sr. Apparently deciding that the reason the Susan B. Anthony dollar failed to circulate was inadequate marketing, the U.S. Mint made a concerted effort to persuade the public of the usefulness of the new coins.

Along with extensive television commercials, print ads, and convention presentations, the Mint collaborated with retail giant Walmart, who took the initial delivery of the coins to use as change from store purchases. General Mills placed one of 5,500 Sacagawea dollars in every 2,000th box of Cheerios. In spite of these efforts, this dollar coin like its recent predecessors failed to circulate. Even the marketing went slightly askew; use of the phrase “golden dollar” by the Mint caused some to believe the coins actually contained gold, not realizing the expression referred only to the color of the manganese-brass outside layers. Interestingly, 39 22-karat gold Sacagawea dollars actually were struck at West Point in 1999 (though dated 2000), but were not for circulation. Twelve of the real gold dollars went to space on the shuttle Columbia in July, 1999, and after returning to earth were placed in Fort Knox; the rest were melted. Mintage of circulating dollars dropped significantly in 2002, from which point forward the coins have been produced primarily for collectors. Starting in 2009, by decree of the 2009 Native American $1 Coin Act, Sacagawea dollars will have yearly changes of the reverse design to honor other Native Americans, and new edge markings. Though the Mint began producing Presidential dollar coins in 2007, the Native American Coin Act also mandates that twenty percent of the total dollar coin mintage in any year be Sacagawea dollars.

The obverse features a centered portrait of Sacagawea, body oriented away from the coin but head turned back to the right to face the viewer. Dressed in native clothes, she carries on her back her sleeping infant son. LIBERTY is at the top, concentric with a wide flat rim, IN GOD WE TRUST in two lines is to the left of the portrait, and the date is at the lower right of the portrait (the date was moved to the edge starting in 2009). Sacagawea dollar were minted in Philadelphia and Denver for circulation, and San Francisco for proofs; P, D, and S mintmarks are centered below the date. The designer’s initials, GG, are located on the lower part of the folded cloth wrapped around the infant. Through 2008 the reverse features a centered flying eagle, surrounded by a circle of 17 small five-point stars (representing the number of states at the time of the Lewis and Clark expedition), separated into three groups by the eagle’s wing tips and tail feathers. UNITED STATES OF AMERICA at the top and ONE DOLLAR at the bottom arc just inside the flat rim. E PLURIBUS UNUM is above and to the left of the eagle, and the designer’s initial TDR are just to the right of the last R in DOLLAR. The reverse design and text were changed starting in 2009, with designs that represent Native American contributions to the history of the United States. Sacagawea dollars from 2000 through 2008 have a plain edge; starting in 2009 the year of minting, mintmark, E PLURIBUS UNUM and IN GOD WE TRUST were moved to the edge.

Business strike Sacagawea dollars are considered common, with most of the thousands of certified examples graded as MS64 and finer. Many prooflike examples have been identified. Prices are very modest through MS67, with some pieces expensive to very expensive as MS68 and finer. The Goodacre Presentation pieces are modestly priced to MS67, expensive finer. The most expensive examples are the 2000-P “Cheerios” pieces, expensive as MS63 to very expensive as MS67 and finer. Thousands of proof Sacagawea dollars have been certified, some as Cameo but most as Deep Cameo. Prices are modest even as PR70, though 2001 and 2002 issues are slightly more expensive. The 2000-S PR70 pieces are the most expensive.

Specifications:
Designer: Glenna Goodacre, obverse; Thomas D. Rogers Sr., reverse
Circulation Mintage: ongoing; declining from a high of 767,140,000, 2000-P, to about 2 million to 4 million per year thereafter
Proof Mintage: ongoing; generally about 2 million to 4 million per year
Denomination: $1.00
Diameter: 26.5 mm, plain edge; starting in 2009, edge with year of minting, mintmark, E PLURIBUS UNUM and IN GOD WE TRUST
Metal Content: Outer layers of 77% copper, 12% zinc, 7% manganese, and 4% nickel (manganese-brass); inner core is pure copper
Weight: 8.1 grams
Varieties: A few known, including 2000-P Goodacre Presentation Finish (Sculptor Goodacre was paid with a group of 5,000 of the coins with a special finish); 2000-P Boldly Detailed Tail Feathers (also called the “Cheerios” Dollar, though it is uncertain whether all dollars inserted into Cheerios boxes are of this style); “muled” pieces with a Washington quarter obverse and Sacagawea dollar reverse; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
United States Small Size Dollar Coins: www.smalldollars.com
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.

Last Updated : 07/07/2009