By Charles Morgan and Hubert Walker for CoinWeek Notes …..
In the final months of master artist Augustus Saint-Gaudens’ life, he and President Theodore Roosevelt collaborated on an ambitious project to reimagine American coinage. The always active president envisioned redesigns of every United States coin denomination, from the Indian Head Cent to the Liberty Head Double Eagle $20 gold coin.
Executed in the French Beaux Arts style with quintessentially American motifs, Saint-Gaudens created high-relief designs reminiscent of those used by the ancient Greeks. Unfortunately, given Saint-Gaudens’ rapidly declining health, only two denominations advanced to the point where the artist’s assistant Henry Hering and the United States Mint’s Chief Engraver Charles E. Barber were able to make the final adjustments so that coins could be produced: the Saint-Gaudens Double Eagle and Eagle.
The Saint-Gaudens Indian Head Eagle $10 gold coin featured Lady Liberty with a Native American war bonnet on the obverse and a standing eagle on the reverse. The female figure was modeled after the goddess Nike (representing Victory) that was part of the Saint-Gauden’s equestrian Sherman Monument located at the entrance to New York’s Central Park.
Realizing Saint-Gaudens’ and Roosevelt’s artistic vision for the new coinage presented the Mint with several challenges. For the Indian Head Eagle, one issue that arose early in production was that the coins did not stack uniformly. This would impede the coin’s use in commerce so the rim was modified. Another issue that required technical correction was that the early models did not strike up completely.
It was left to Chief Engraver Barber to make additional changes (he had changed the raised rim to the rounded rim) so that the Indian Head eagle could be produced efficiently and in sufficient quantities for commerce; or, as one scholar described it, “turning unusable designs into something practical.”
Barber’s efforts are often criticized, but the changes were successful in terms of production, and hundreds of thousands of eagles were minted in 1907 and 1908.
The type is one of the most popular U.S. coin series and is defined not only by Barber’s changes but also by the omission of the motto IN GOD WE TRUST (the early 1907 Wire Rim and Rounded Rim pieces also did not have the motto). That phrase appeared on the previous Liberty Head Eagle and was mandated by the Act of March 3, 1865, but was left off by Saint-Gaudens. Many commentators attribute that omission to the sheer willpower of Roosevelt, who believed that placing religious sentiment on circulating coinage was a form of blasphemy – the same coin that showed up in this week’s offering plate might be on the gambling table next week. Congress disagreed (likely encouraged by strong public opinion), and the motto was added to the reverse for issues produced later in 1908.
How Rare Are Indian Head Eagle, No Motto $10 Gold Coins?
A few thousand No Motto Indian Head Eagles have been certified. Prices are moderate to MS62, expensive to MS64, and especially expensive finer. The 1908-D No Motto is extremely expensive in Gem and finer.
Proofs of the type are enigmatic; only one example has been certified to date (in Matte finish), and would likely be priced at over $250,000.
In-Depth Date Analysis by CoinWeek Notes
Design
Obverse:
Liberty faces left on the obverse, wearing a many-feathered bonnet that displays the word LIBERTY across the front. Strands of flowing hair appear below the headdress at the forehead and across the side to the back. Thirteen six-pointed stars form an arc inside the top third of the raised rim above and slightly touching the feathers of the headdress. The date is centered at the bottom, crowding the portrait and the rim.
Reverse:
On the reverse, a majestic eagle faces left and rests on a bundle of arrows with an olive branch intertwined. Inside the raised rim is the legend UNITED STATES OF AMERICA at the top and the denomination TEN DOLLARS at the bottom, the words of both inscriptions separated by centered, somewhat triangular dots. At the upper right, above but touching the eagle and below OF AMERICA, is the motto E PLURIBUS UNUM, each word on a separate line.
No Motto Indian Head Eagles were minted at Philadelphia, Denver, and San Francisco; D and S mintmarks are to the left of TEN, below the tip of the olive branch, with the bottom edge parallel to the curved rim.
Edge:
The edge of the Indian Head Eagle, No Motto $10 gold coin is starred, with 46 raised stars.
Varieties
Very few minor die variations have been identified. However, the two major 1907 rim varieties mentioned above are highly collectible and expensive.
Coin Specifications
| Indian Head Eagle, No Motto | |
| Years of Issue: | 1907-08 |
| Mintmark: | None (Philadelphia); D (Denver); S (San Francisco) |
| Mintage (Business): | High: 239,406 (1907); Low: 33,500 (1908) |
| Mintage (Proof): | One example certified (1907) |
| Alloy: | .900 gold, .100 silver |
| Weight: | 16.7 g |
| Diameter: | 27.0 mm |
| Edge: | 46 raised stars |
| OBV Designer: | Augustus Saint-Gaudens, modified by Charles Barber |
| REV Designer: | Augustus Saint-Gaudens, modified by Charles Barber |
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Additional References
Bowers, Q. David. The Experts Guide to Collecting and Investing in Rare Coins. Whitman Publishing.
–. A Guide Book of United States Type Coins. Whitman Publishing.
Breen, Walter. Walter Breen’s Encyclopedia of U.S. Coins. Doubleday.
Dannreuther, John and Harry W. Bass, Jr. Early U.S. Gold Coin Varieties, A Study of Die States. 1795-1834. Whitman Publishing.
Guth, Ron, and Jeff Garrett. United States Coinage: A Study by Type. Whitman Publishing.
–. Encyclopedia of U.S. Gold Coins: 1795-1933. Whitman Publishing.
Taxay, Don. The U.S. Mint and Coinage. Arco Publishing.
Yeoman, R.S., and Jeff Garrett (editor). The Official Red Book: A Guide Book of United States Coins. Whitman Publishing.
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