After the Liberty Head half eagle denomination ceased coinage at the New Orleans mint in 1894, the new Indian Head design (introduced in 1908) was produced for one year only. There were just 34,200 1909-O half eagles struck, which is by far the lowest mintage for the entire design. The 1909-O is reasonably available in EF and the lower AU grades but it becomes hard to locate in properly graded AU55 to AU58. In Uncirculated, it is rare with most in the MS60 to MS62 range. In MS63 and above, the 1909-O half eagle is very rare and it is an expensive coin in higher grades which is out of the price range for all but the highest echelon of collectors. In my opinion, MS61 is the ideal grade for this issue as it is truly “new” (unlike an MS60) but it is within the price range of many collectors (unlike an MS63, which in PCGS/CAC could cost $100,000+ if available).

This is a choice, appealing coin with a considerable amount of natural mint luster atop light green-gold surfaces. The strike is better than average for the issue with the mintmark clearly visible to the naked eye. A few little ticks can be seen in the fields but this coin is fresh and vibrant with enough eye appeal to give consideration at a higher grade level.

The most recent auction trade for a PCGS MS61 1909-O half eagle with CAC approval is Heritage 7/12: 4953 which brought $40,250. That coin was crusty and original but it did show some spotting on the surfaces which might not appeal to all potential buyers. Before this, the last PCGS MS61 1909-O half eagle to sell at auction was all the way back in January 2008.

This is an issue with multiple levels of demand. It is numismatically significant as a one-year issue and it is the only Indian Head design of any denomination to be produced at the New Orleans mint. It is sought after by collectors specializing in New Orleans gold as well as those who collect 20th century issues. With all the “bells and whistles” (PCGS and CAC) which this coin has, it is bound to be extremely appealing to a variety of collectors and it is the first Uncirculated example of this issue that I have handled in some time.

CAC has approved just three in MS61 with eight finer.