| Coin | Weight (g) | Composition | Gold Melt Value | Full Melt Value |
|---|---|---|---|---|
| Liberty, With Motto (1866-1908 ) | 8.24 | Gold 90%, Copper 7%, Silver 3% | ||
| Liberty, No Motto (1839-1866) | 8.24 | Gold 90%, Copper 7%, Silver 3% | ||
| Classic Head (1834-1838 ) | 8.24 | Gold 90%, Copper 7%, Silver 3% | ||
| Capped Bust, Head Left (1807-1834 ) | 8.748 | Gold 91.70%,Copper 5.81%, Silver 2.30% | ||
| Turban Head, Heraldic Eagle (1797-1807 ) | 8.748 | Gold 91.70%,Copper 5.81%, Silver 2.30% | ||
| Turban Head, Small Eagle (1795-1798 ) | 8.748 | Gold 91.70%,Copper 5.81%, Silver 2.30% |
The Liberty Gold Half Eagles, or five dollar, gold coins were certainly the most widely used of the United States gold coins. Liberty graced the obverse of the half eagle coins from their first strike in 1795 and continued through 1908 when they she was replaced by the Indian Head design which was used until the United States ended the use of gold coins for currency in 1933. There are four distinct portraits of Liberty throughout the minting of the half eagles, two of which have noticeable changes of their reverses during their minting.
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Robert Scot deigned the first of these Liberty half eagles is the Turban Head which is sometimes referred to as “Draped Bust Right” or “Capped Bust Right”. Scot also designed two different reverse master dies for the Turban Head half eagles; the “small eagle” (1795-1798) and the “heraldic eagle” (1797-1808). These are 25 millimeters in diameter and weigh 8.748 grams. The United States used 22 carat gold planchets to strike their gold coins; these are 91.7% gold, 5.81% copper, and 2.30% silver. However there seems to be some question as to whether or not the same percentages of copper and silver were used in the United States gold coins.
In 1807 a new Liberty design was draw up and master dies created; the “Capped Bust (Head Left)” which was used from 1807 through 1834. There was overlap with the Turban Bust coins and an unknown number of the Turban Head half dollars were struck in 1808. The Capped Bust half dollars have the same gold content as before however adjustments in design were made to their designs by Robert Scot in 1813.
Then late in 1829 a new method and machinery was put into use for striking these half dollars and the diameter was reduced to 23.8 millimeters. William Kneass did these new master dies. The “collared” coin presses that were replacing the old roller coin presses were capable of adding the reeded edge to these coins at the same time they were striking the obverse and reverses.
In 1834 United States’ Congress finally decided to address one of the central problems in getting and keeping US gold coins in circulation. Europe was thrown into panic with the French Revolution and the subsequent military activities carried out by Napoleon. This cause a great demand for gold throughout Europe and the United States’ gold was undervalued since the relative value of silver compared to gold had grown from when the US Congress set this ratio as 15:1. Eventually the United States’ Congress adjusted this ratio to 16:1 and this successfully curtailed the depletion of gold coins from the United States. There were also significant gold be mined in the south eastern portions of the Appalachian mountain range which produced enough gold that the United States Mint opened new branches in Charlotte, North Carolina and Dahlonega, Georgia in order to handle the local gold fields.
The third Liberty design, the “Classic Head”, was created by William Kneass and used from 1834 and used through 1838. The Classic Head gold coins maintained the 23.8 millimeter diameter and 8.24g weight, however its fineness was adjust. In 1834 through 1836 these were 89.9% gold and 10.1% copper (silver was dropped from gold coins in 1934) and then in 1837 the gold fineness was finally set at 90% gold and 10% copper. The 0.900 fineness was maintained throughout the rest of the United States circulating gold coins up to 1933 when the United States abandoned the gold standard.
The final “Liberty” for the half eagle was designed by Christian Gobrecht and first used in 1839 and through 1908. In 1866 the motto, “IN GOD WE TRUST” was added to the reverse side of Gobrecht’s “Liberty” half gold eagle while maintaining the same obverse design which was supplanted by the Indian Head design in 1908.
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