Liberty Head Half Eagle ($5 Gold Coin) Pendant

This item is a United States Liberty Head Half Eagle gold coin, which has been converted into a jewelry pendant. The coin, face value of five dollars, is composed of 90% gold and 10% copper. Visible is the 'reverse' side of the coin, featuring a heraldic eagle with a shield on its breast, clutching three arrows and an olive branch. Above the eagle's head is the 'S' mint mark, indicating it was struck at the San Francisco Mint. The eagle is encircled by the text 'UNITED STATES OF AMERICA' and the denomination 'FIVE D.' Beneath the eagle's head is a ribbon with the motto 'IN GOD WE TRUST,' a feature added to this design starting in 1866. Based on the mint mark and design, this coin dates between 1866 and 1908. The coin is mounted in a gold-toned bezel frame with a simple loop bale at the top for suspension on a chain. Regarding condition, the coin shows significant signs of 'ex-jewelry' wear, including a noticeable vertical scratch or stress mark running through the top of the coin near the bezel mount. The surfaces show typical circulation wear with softening of the eagle's feathers and rim dings. The bezel appears to be tightly fitted, which often causes edge damage to numismatic specimens. The overall patina is a rich warm yellow, characteristic of historical U.S. gold coinage.

I have virtually examined this Liberty Head $5 Gold Half Eagle pendant. The coin, minted in San Francisco between 1866 and 1908, is composed of .900 fine gold, containing approximately 0.2419 troy ounces of pure gold. My visual inspection confirms significant 'ex-jewelry' condition markers, notably the vertical stress fracture near the 12 o'clock position and rim softening caused by the bezel mounting. Such modifications effectively remove the item from high-grade numismatic consideration and reclassify it as bullion-jewelry. The market value is currently driven primarily by the spot price of gold, with a modest premium for the historical mount. Comparable sales for damaged or ex-jewelry Half Eagles typically range from 5% to 15% above gold melt value. Market demand remains steady for wearable gold coinage, though collectors of rare coins would avoid this specimen due to the permanent mounting damage. I must note that this appraisal is based solely on digital images. A definitive assessment of authenticity would require in-person verification of the coin’s weight (expected 8.36g for the coin alone), diameter (21.6mm), and a specific gravity test to ensure the alloy is consistent with San Francisco Mint standards. Furthermore, I would need to remove the coin from the bezel to inspect the edges for 'edge-filing' or hidden repairs often found in jewelry-mounted pieces. Professional grading by PCGS or NGC is not recommended here, as the pendant mounting constitutes environmental damage that would result in a 'Genuine' but no-grade details slab.