The US 1916 Half Eagle $5 gold coin, designed by Bela Lyon Pratt, features an innovative incuse design, where the Native American portrait and eagle are sunken into the surface. This unique approach set it apart from traditional raised-relief coins. The coin was minted during World War I, a period of economic strain and shifting monetary policies. The war led to increased demand for gold, causing the hoarding of gold coins, including the US 1916 Half Eagle $5, which soon disappeared from circulation. This reflected the broader transition from gold coinage to paper money and federal reserve notes.
Politically, the US 1916 Half Eagle $5 symbolized American nationalism, featuring a strong Native American figure and an eagle representing national strength. The coin’s designer, Bela Lyon Pratt, embraced President Theodore Roosevelt’s vision of more artistic and historically meaningful U.S. coinage. Economically, gold prices fluctuated due to war efforts, influencing the eventual discontinuation of gold coin circulation. By the early 1930s, gold coin production ceased under President Franklin D. Roosevelt’s policies. The US 1916 Half Eagle $5 remains a significant piece of numismatic history, representing early 20th-century economic and political shifts.