The US 1862 Half Eagle $5 coin, featuring a Liberty head design by James B. Longacre, was minted during the Civil War. The U.S. government faced significant financial strain, leading to the issuance of paper currency and reliance on gold coins like the 1862 Half Eagle to maintain stability. The coin, made of 90% gold, was critical for both everyday transactions and wartime financing.
Economically, the 1862 Half Eagle represented the importance of gold in maintaining the value of U.S. currency amid the economic turmoil of the Civil War. The coin’s design and metal composition underscored the need for precious metals as a reliable medium of exchange during a time of national crisis.