1892 O Liberty Head $5 Gold AU-55 Grade by NGC CAC Certified

The $5 gold Half Eagle was familiar in American economic life. It had been in constant use since the early days of the Republic and was one of the longest lasting denominations in United States history. Half eagles would go on to see almost continuous production from 1795 to 1929, and throughout their life they would not only be used in trade, but—in preference to almost any other gold coin would popularly be found in Christmas stockings, especially in eastern towns and cities. Its production was authorized by The Act of April 2, 1792, and it was the first gold coin minted by the United States.

The obverse was designed by Christian Gobrecht and is known as the "Liberty Head" or "Coronet Head". By far, the Philadelphia Mint struck more half eagles in 1892 than did all three of the branch mints combined. This is not an unusual situation as far as 19th-century coinage is concerned, though it is worth noting that the lower mintages (which in part have led to low current population figures) have put some pricing pressure on the New Orleans and Carson City coins especially. Some well-known early 20th century numismatists astutely realized that many of the 19th century gold issues were rare and sought these coins for their collections. A few of these individuals were able to complete the series or obtain at least some of the rarities. Among these famous collectors were banker Louis Eliasberg, William Cutler Atwater, the movie actor Adolph Menjou, King Farouk of Egypt and pharmaceutical giant Josiah K. Lilly.