The 1856 $5 Gold coin, produced in Philadelphia, is part of the United States Mint's gold coin series, which was introduced to facilitate trade and commerce. This coin features a portrait of Liberty on the obverse and an eagle on the reverse, symbolizing strength and freedom. Its collectible value is influenced by factors such as rarity, condition, and historical significance, making it a sought-after item among numismatists and collectors. The $1 Gold coins from this era, although different in denomination, also contribute to the overall appeal of 19th-century American gold coinage.