$5 Draped Bust Gold (1795–1807)

The half eagle was the first gold coin actually struck for the United States. The five dollar piece was authorized to be coined by the Act of April 2, 1792, and the first type weighed 135 grains, .9167 fineness.

The earliest designs feature Liberty facing right with a draped bust motif. The obverses of the draped bust designs remained the same from 1795 to 1807. There are two significant reverse designs: small and large (heraldic) eagle. The small eagle has wings spread and bears an olive wreath in its beak and was issued from 1795-1798. In the years of 1795-1807 the large (heraldic) eagle with shield, was also issued.