The values of the R-Co exchange field

H_{ex}

and the crystalline-electric-field parameters

A_{n}^{m}

at the rare-earth (R) site in R

{Co}_{5}

(R=Pr, Nd, Sm, Gd, Tb, Dy, Ho, and Er) and

Y_{1 - x}

{Nd}_{x}

{Co}_{5}

(x=0.5, 0.6, 0.8, and 1.0) compounds are evaluated by a comparison of calculations with a series of experiments. The experiments provide the following data: temperature dependence of spontaneous magnetization of the compounds and magnetic moment of the rare-earth ion, magnetization curves along the crystallographic axes, and temperature dependence of the easy direction of magnetization. The anisotropies of the R-Co exchange interaction and the magnetic moment of the Co sublattice are taken into account in the calculation. The R-Co exchange field

H_{ex}

decreases monotonically across the rare-earth series from Pr to Er. For

{PrCo}_{5}

, the value of

A_{2}^{0}

is much smaller than those of the other compounds, which suggests valence fluctuations for the Pr ion. For

Y_{1 - x}

{Nd}_{x}

{Co}_{5}

and

{SmCo}_{5}

, the absolute value of

A_{2}^{0}

decreases with increasing temperature.

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