1886 Proof Liberty Head $5

Most Liberty Head five-dollar coins were made of gold between 1839 and 1908 melted down from private deposits in goldsmiths banks and the U.S. Treasury. The coins were minted in small denominations, usually in quarter-dollar values, until 1864 when larger denominations of $1, $2 ½ and $5 were produced. In 1866 and 1876, a new design was used on the coins with a different Liberty on the obverse and a smaller star reverse.

The Liberty Head $5 was the first five-dollar coin issued by the United States. Its metal content was 90 percent gold, 10 percent copper. It was not replaced by another five-dollar gold coin until 1907, when the Indian Head $5 was released. There were two distinct types of Liberty Head fives issued—one from 1839 to 1866 and one from 1866 to 1908.

The Liberty Head $5 coin from 1839 to 1866 is the most valuable of the two types and usually sells for the highest prices.

Minted from 1866 to 1908, the second type has the same obverse (front) but a smaller star on the reverse, and usually sells for less. It is estimated that about 1.4 million Liberty Head fives were minted between 1839 and 1908, with only a few surviving in excellent condition.

The Liberty Head $5 is considered one of the most beautiful coins ever minted and is highly sought after by coin collectors. Those interested in owning one should expect to pay a premium price due to the rarity.