The series of the Indian Head Gold Coins designed by the famous sculptor Augustus Saint-Gaudens is a particularly attractive force for investors who look for cultural emotion and efficient preservation of assets. Indian Head Eagle Coins come in a range of denominations, with the face values of $2.50, $5, and $10. The $10 denomination gold coin is one of the most valuable in the history of American numismatics, a piece worthy of investment and collection. These coins, which have been melted many times and have differing mintage rates, enable collectors and investors to obtain assets that are valuable for a long-term period.
Let’s explore the fascinating story of Indian Head Eagles and why they are still an enduring symbol of American coinage.
Brief History
The Indian Head Gold Coin was designed by the renowned sculptor Augustus Saint-Gaudens, a creation that brought the $10 gold denomination to its final signature. Mintages fluctuated between 1907 and the federal gold recall in 1933 in three different minting places, although not consistently. In the case of scarce editions, it was mostly due to severe melting, meaning the circulation was low in most cases. Some of the rarest are the first prototype and design layout before mass production is done.
Understanding the $2.50, $5, and $10 Denominations
The $2.50, $5, and $10 designations for Indian Head gold coins refer to their face value. Nonetheless, the definitive value of such coins is determined by the gold spot price plus other premiums such as availability, scarcity, and charges by the seller. Let’s understand why these coins are so valuable:
$2.50
The $2.50 Indian Head Gold Coin, circulated from 1908 to 1929 straight across the Great Depression, differs from traditional American coins with an incuse design by Bela Lyon Pratt. Minted until 1915 and then again from 1925 to 1929, it was introduced when U.S. gold coinage was redesigned for a modern artistic look.
Due to these relatively low mintages compared to other coins in circulation at that time, it has become a rare coin and indeed expensive. The circulation of this coin was interrupted by the 1933 gold recall as many of the specimens were melted, contributing to its scarcity. The $2.50 Indian Head Quarter Eagle is a popular collectible and investment among numismatists and gold aficionados due to its significance in history and stunning design.
Key Highlights:
- Minted: 1908-1929
- Designer: Bela Lyon Pratt
- Composition: 90% gold, 10% copper
- Weight: 4.18 grams
- Diameter: 18 mm
$5
Purchasing a $5 Indian Head Gold Coin is a good chance to possess a piece of American coinage history. These were produced from 1908 to 1916 and 1929 and have a very unique “incuse” design where the lettering and images are indented into the coin rather than raised on the surface. These coins were once considered to be inferior and mocked, but today, they are appreciated for their artistic and historical value.
Created by Boston sculptor Bela Lyon Pratt at the request of President Theodore Roosevelt, the $5 Indian Half Eagle coin features a realistic portrait of a native American chief on the front side and the image of a bald eagle holding olive branches on the backside. This design refers to ancient Egyptian coinage and was used for the $10 Indian Half Eagle; it is also different from other motifs usually depicted on coins in the United States.
Due to their rarity in higher Mint State conditions and low prices at the present time, $5 Indian Half Eagle gold coins have been classified as “sleepers” by some collectors and investors. These factors put them both in historical interest and investment portfolios, making them a must-have gem in the gold coin collection.
Key Highlights:
- Minted: 1908-1916, 1929
- Designer: Bela Lyon Pratt
- Composition: 90% gold, 10% copper
- Weight: 8.36 grams
- Diameter: 21.6 mm
$10
The $10 Indian Head Gold Coin, which was produced from 1907 to 1933, remains one of the best pieces of art in American numismatic history. Created by Augustus Saint-Gaudens during the recoinage period led by President Theodore Roosevelt, the front side has the image of Liberty in Indian headdress: America idealized through the prism of the classics. On the reverse side, you can see a proud bald eagle holding arrows and an olive branch, symbolizing might and peace, respectively.
Containing .48375 troy ounces of pure gold, the coin holds a face value of $10 but carries a significantly higher intrinsic worth. Produced in Philadelphia, Denver, and San Francisco, it was struck only until the Great Depression’s gold recall, making it rare today. Even though the $10 Indian Gold Eagle is prohibited from ownership by FDR’s 1933 executive order, surviving pieces are highly sought after for their rarity, historical significance, and exquisite design, which makes them a treasure among collectors and investors.
Key Highlights:
- Minted: 1907-1933
- Designer: Augustus Saint-Gaudens
- Composition: 90% gold, 10% copper
- Weight: 16.718 grams
- Diameter: 27 mm
Design of the Indian Head Eagle
There are several influences that Augustus Saint-Gaudens used in the emergence of the Indian Head Gold Coin, which includes but is not limited to a model created for the William Tecumseh Sherman Monument in New York City.
Originally designed for the cent, Saint-Gaudens modified the head of Liberty from this model as well as from the bust of Harriet Eugenia Anderson and the bas-relief ΝΙΚΗ ΕΙΡΗΝΗ. For the reverse design, he wanted to depict an eagle on an anchor accompanied by a sheaf of arrows and an olive branch – a return to the first double eagle vision. He also drew inspiration from a coin of Ptolemy I of Egypt – a thing he came across in a book Roosevelt borrowed from him.
Jeff Garrett and Ron Guth confronted some aspects regarding design as “a trifle fantastic” regarding the portrayal of the female figure in the headdress of a warrior male figure, and the use of the word LIBERTY in the headdress is considered unsuitable.
The design of the Indian Gold Eagle changed many times during the first years of its existence as the US Mint tried to reconcile the artistic vision of Saint-Gaudens with technical requirements for production. The first patterns had a high relief and a wire rim, which was changed to a rounded rim and low relief because of the stacking problems. In 1908, the inscription “IN GOD WE TRUST” was placed on the reverse side of the coin, and it is located to the left of the eagle. Following additional revisions in 1912, the number of stars on the edge of the coin was brought to 48 as Arizona and New Mexico became states.
Collecting Indian Head Eagles
Based only on date or mintmark, the majority of Indian Head Gold Coin circulation strikes produced before 1920—aside from the high relief pieces from 1907—are not uncommon. However, there are specific dates that may be considered rather attractive to the collectors because of their rarity and historical connotations.
For instance:
- The 1911-D has a mintage of 30,100 pieces and can be sold for a high premium if it is in mint state or uncirculated form, although its price in the circulated condition is comparatively lower.
- On the other hand, the 1920-S type is scarce as it has a mintage of 126,500, yet it is considered a key-date piece among coin collectors. Some melting of the 1920-S eagles took place after March 1933 due to the very low exportation to Europe after World War I, and thus, the surviving pieces are in high demand and collectible now.
- The 1933 is another popular series with only forty pieces left, although some 312,500 pieces of this coin were produced. Their historical value is underlined by almost total recycling after Roosevelt’s Golder Recall, which in turn made each available piece a highly sought-after item among collectors. In fact, an NGC MS-66 got $718,750 in an auction sale in 2004 to prove how valuable this piece is in the market among collectors.
Proof coins minted in Philadelphia from 1907 to 1915 add to the series’ appeal, with distinctive examples and various finishes providing collector value.
Conclusion
The Indian Head Gold Coin series collection, designed by Augustus Saint-Gaudens and Bela Lyon Pratt, deserves attention not only from the historical but also from the artistic point of view. The mintages of these coins range and there are some rare pieces given the instances of melting; investing in these coins presents the opportunity of owning assets of lasting value and worth.
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