$10 Indian Head Gold Coin
The $10 Indian Head Gold Coin is a renowned piece of American coinage, highly coveted by collectors and investors alike. This gold coin, carrying a face value of $10, encapsulates a historic era when gold coins were a part of everyday money circulation in the United States.
History and Design
The $10 Indian Head Gold Coin, minted from 1907 to 1933, was designed by the celebrated sculptor Augustus Saint-Gaudens at the behest of President Theodore Roosevelt. Roosevelt wanted to redesign American coinage, and Saint-Gaudens' artistic intrusion resulted in this iconic coin.
The obverse features a female Liberty wearing a Native American headdress. This unique motif, combining elements of Liberty and Native American culture, symbolized the spirit of America and came to be known as the Indian Head design. Thirteen stars, representing the original thirteen colonies, encircle the coin, with the date placed below.
The reverse showcases a majestic bald eagle standing on a bundle of arrows and an olive branch, signifying both strength and peace. The inscriptions "UNITED STATES OF AMERICA" and the denomination "TEN DOLLARS" frame the eagle. Initially, these coins were struck without the motto "IN GOD WE TRUST," but due to public demand and legislative changes, the motto was added in 1908.
The $10 Indian Head Gold Coin was minted at multiple facilities, including the Philadelphia Mint (no mint mark) and the San Francisco Mint (S). The San Francisco Mint was particularly notable for producing some of the rarest issues in this series.
Features and Variations
No Motto and With Motto Series
The Indian Head Gold Coins issued from 1907 to 1908 featured no motto. From 1908 onwards, the motto "IN GOD WE TRUST" was added to the reverse of the coin, resulting in two distinct variations: "No Motto" and "With Motto."
Wire Rim and Rounded Rim
Early issues of the $10 Indian Head Gold Coin featured a Wire Rim design, which was prone to being easily broken and thus was replaced with a more durable Rounded Rim in subsequent issues.
Collectibility and Value
Condition
The condition and grading of the coin, verified by entities like PCGS, significantly impact its value. High-grade specimens, particularly those in Mint State (MS60 to MS70), are highly sought after due to their minimal signs of wear and preserved original luster.
Investment
The $10 Indian Head Gold Coin, composed of .900 gold and .100 copper, is a popular choice among gold bullion investors. The coin's value is closely tied to the price of gold, making it a stable and appreciating asset for those looking to diversify their investment portfolios.
Rarity
Certain dates and mint marks are particularly rare and command higher premiums. Coins struck at the San Francisco Mint (S) are among the most sought after, with the 1907 Wire Rim and the 1933 issues being exceptionally rare. Many Pre-33 Gold Coins were melted down during the Great Depression, adding to their scarcity.
Legacy
The $10 Indian Head Gold Coin remains a testament to American artistry and innovation. Augustus Saint-Gaudens, despite battling cancer, succeeded in creating one of the most beautiful and enduring designs in U.S. coinage history. These coins are not only valuable for their gold content but also for their historical significance and artistic merit. Collectors and investors alike continue to cherish these coins for their beauty, rarity, and the rich history they represent.
The $10 Indian Head Gold Coin, with its unique design, storied past, and intrinsic value, is a prized addition to any numismatic collection. Its legacy as a symbol of American resilience and creativity endures, making it a must-have for enthusiasts of gold coins and American history.