1878 $5 Five Dollar, Judd-1578, Pollock-1771, Low R.7, PR63 Gilt NGC
The so-called Phrygian Head or Liberty Head obverse, attributed to George T. Morgan. Liberty wears a Phrygian cap, facing left, with LIBERTY incused on the band. E PLURIBUS is to the left, UNUM to the right, with date 1878 below. On the reverse an eagle is somewhat similar to the Morgan dollar reverse "except not as delicate" (Judd). IN GOD WE TRUST is in Gothic script over the eagle, with FIVE DOL. at the rim below. Struck on a regular-diameter planchet, in copper with a reeded edge.
The overall appearance is similar to the Morgan silver dollar, although a silver one dollar and a gold five dollar with the same or similar designs would have been a fairly radical departure from longstanding practice for the Mint. Many examples are gilt, including the present piece. Two gold examples are also known, both impounded in museum collections.