CoIn2 (Z. Metallkd. 1970, 61, 342–343) forms by reaction of the elements at 1470 K followed by annealing at 770 K for five days. The room temperature structure is orthorhombic (CuMg2 type, Fddd, a = 529.95(10), b = 940.49(13), c = 1785.8(3) pm, wR2 = 0.0563, 444 F
2 values, 17 variables) and shows a phase transition at 195(1) K (DSC data). The low-temperature modification crystallizes in the translationengleiche monoclinic subgroup C2/c and exhibits a new structure type (a = 933.7(7), b = 526.91(10), c = 1000.8(2) pm, β = 117.81(5)°, wR2 = 0.0374, 843 F
2 values, 30 variables). The structural phase transition is a consequence of a Peierls type distortion. The equidistant cobalt chains in HT-CoIn2 (270.1 pm, 175.2° Co–Co–Co) show pairwise dislocation in LT-CoIn2 with shorter (252.4 pm) and longer (284.1 pm) Co–Co distances. Each cobalt atom has coordination number 10 in the form of slightly distorted square antiprisms of indium, capped by cobalt on the rectangular faces. Density-of-states calculations reveal metallic behavior for both modifications. Integrated crystal orbital overlap populations featuring the bonding characteristics indicate a slightly higher intensity area for LT-CoIn2 along with a shift to lower energy, manifesting the stabilization by pair formation through Peierls distortion.