1861 $ 5 Liberty Head Half Eagle PCGS MS63
1861 Liberty Gold 5pc Denomination Set with 1861 $20 Medal (6pcs total) is priced collectively at $87,500.
(If sold separately it would be $90,750).
The dawning of the Civil War in 1861 put a significant financial strain on the United States government. Over the course of that year alone the national debt more than doubled, increasing from $65 million to $145 million. Consequently, the government issued Demand notes in 1861 in an effort to raise funds for the war effort. The notes were non-interest-bearing certificates payable in a fixed weight of gold at four sub-Treasury offices: New York City, Boston, Philadelphia, and St. Louis. The mass printing of Demand notes necessitated increased gold reserves, hence the production of 688,084 half eagles in 1861. Other denominations also experienced significant production total increases. According to Neil Carothers, "the Treasury's efforts to finance the war by loans had failed and at the beginning of 1862 gold payments were suspended, except on the Pacific Coast, in private and government transactions." In effect, the public continued to put a hefty premium on hard money, which circulated minimally in the early days of the war before being withdrawn entirely and hoarded en masse by early 1862.
1861 $5 Gold Liberty, PCGS MS63 - 688,084 originally minted. PCGS Population of 45 coins with 48 finer. Smithsonian is MS66.
|Denomination Type||Liberty Head $5|
|Grade Add On||NONE|