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Saint-Gaudens' Other Coin: The $10 Indian

 May2015 Spotlight F
MS62 $10 Indian
Many of our clients have become familiar with the name Augustus Saint-Gaudens, as he was the designer of the $20 ‘Saint’ minted from 1907-1933. 
We have featured $20 Saint-Gaudens Double Eagles several times over the past two years, and every offering has been met with tremendous enthusiasm. What some may not realize, however, is the $10 Indian was also designed by Saint-Gaudens. In fact, the $10 Gold piece carries the original design Saint-Gaudens wanted to appear on the $20 Saint!
This month, we are proud to offer you a collection of the rarer date $10 Indians. You will be able to pick and choose (while they last) the dates you want for yourself. 
Call 800-831-0007 or email me today to add these rarer date $10 Indians to your portfolio. Whether you add one, or make your own set, this is a great way to buy the right coins at the right price.
But, please know there is only one remaining full set for sale. So, don’t wait.
For one week from today, the only 1907 coin we have left is only available to you if you are putting together a full set. Call 800-831-0007 first to make sure it’s yours.
Two complete sets were sold before you knew they were for sale. Sign up to the right to receive early notification via the Numismatic Navigator in the future.


Since the 18th century, the $10 Gold Eagle has been one of America’s most important coinage denominations. First struck in 1795, the $10 pieces were once the largest gold coins produced by the United States Mint and the highest denomination units of currency. 

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Despite its importance as a unit of exchange, the coin’s design remained essentially unchanged for nearly 70 years. Minor tweaks aside, the $10 Eagle went from 1838 -1907 without any modification.
This all changed in 1907, when Theodore Roosevelt decided America’s gold coinage was in dire need of an overhaul. Roosevelt felt U.S. Mint staff engravers preferred safe designs that were easy to create and execute. This meant somewhat bland motifs that went year after year without any change. 
The President, meanwhile, wanted a more exotic design reminiscent of the strikingly beautiful coins of ancient Greece. He realized that to make his dream come to fruition, he would need to engage the services of a sculptor—not a staff engraver.
The history of the $10 Indian Gold Eagle actually begins in 1904. That year, Roosevelt asked Saint-Gaudens to propose new designs for the five most important denominations: the cent and the four gold coins ($2.50, $5, $10 and $20). 
Roosevelt was actually most impressed by the prototype for the cent, but he felt it was somewhat plain. It featured an attractive, if not simple, portrait of Liberty. Roosevelt wanted a more unusual design and asked that an Indian headdress be added to Liberty’s head.
While aesthetically pleasing, the addition of the headdress might actually be culturally and historically incorrect. As critics would later note, a female Native American would almost never wear such a headdress—and a feather war bonnet seemed like an unusual item to wear for a symbol of Liberty. Nonetheless, Roosevelt and Saint-Gaudens were concerned with beauty above all and continued with this design.

Early in the coin’s design process, there was already a conflict between aesthetics vs historical accuracy. The next battle would be aesthetics vs ease of production.

While stunningly beautiful, Saint-Gaudens’ prototypes were a nightmare to strike. U.S. Mint staff grappled with the high relief and intricacy of the new design. In fact, the first 500 or so pieces had to be struck on a high-pressure medal press, rather than the everyday U.S. Mint machinery.

Coins from this first run can be identified by the presence of a sharp “wire” rim and trade for $50,000 to $300,000.

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The adjustments continued into 1907 and 1908. Afterwards, the Mint finally found a way to strike the coin in mass quantities. However, the general public noticed a glaring error: the omission of “In God We Trust” from the coin’s reverse. This motto had been a fixture on United States coins since the Civil War and citizens were unhappy to see this phrase removed. After receiving an avalanche of complaint letters, the U.S. Mint added the missing motto to the reverse.

Mintages and Rarity 

Like its $20 Double Eagle cousin, the $10 Indian saw more limited mintage figures in its first ten years. From the coin’s introduction in 1907, through 1916, mintages remained extremely modest. $10 Gold Eagle production reached its highest levels in 1932; the date is far and away the most common date and the most frequently encountered in Uncirculated.
Despite the difference in rarity between the common 1932 and the earlier dates, there is not a major difference in price. Our analysis of the $10 Indian denomination shows buying 1908-1915 dates is clearly the way to own this coin. Why buy a common 1932 when the scarce earlier dates can be had for a slight premium?
Date PCGS Population Times Rarer than Common 
 1932 13673  
1907 No Motto 1734 7.89
1908 With Motto 1573 8.69
1909 792 17.26
1910 1980 6.91
1910-D 4074 3.36
1911 2918 4.69
1912 2336 5.85
1913 1934 7.07
1914  761 17.97 
1914-D  843 16.22 
1915 1244 10.99
  • In MS62, a common 1932 $10 Indian has a NGC price guide value of $1,050. We are giving you the chance to own coins that are three to ten times rarer, namely the 1910, 1910-D, 1911, 1912, 1913 and 1915, for a small 5% premium.
  • We also found the 1909, 1914 and 1914-D issues represent outstanding value. These dates are 16-18 times rarer than the common date, but we are offering them for a 20% premium over the common date price guide.
  • We also like the 1907 ‘No Motto’ and 1908 ‘With Motto’ issues for their numismatic and historical significance. The 1907 is the controversial issue missing the legend “In God We Trust.” As a one-year type coin, it has multiple levels of demand from both $10 Indian and type collectors. 
  • The 1908 ‘With Motto’ issue represents the first year of issue for the ‘With Motto’ design type. In addition to being the first year of the ‘With Motto’ series, the coin is over eight times rarer than the most common date—yet sells for a 25% premium.
Since last year, we’ve been screening the market for good opportunities in $10 Indians. It took some time to locate a worthwhile group, but our patience paid off. We found a superb group of over 100 early-date $10 Indians, all graded PCGS MS62. 
What’s remarkable about this group is 11 different dates are represented. This allows our clients to potentially build complete date runs from 1907 through 1915. This group also contains two Denver issues, which are rarely seen in the $10 Indian series.

May2015 Spotlight Slabbed Rev FBuild your very own set…

The $10 Indian Gold Eagle, like its famous $20 Double Eagle counterpart, is a gorgeous creation of Augustus Saint-Gaudens. The coin has long been celebrated for its beauty and stunningly attractive design. We’ve long admired the coin’s historical background, but recently it has also emerged as a superb value. 
After canvassing the market, we have found an outstanding opportunity in the $10 Indian series. This group, all graded PCGS MS62, contains a wide variety of rarer dates priced at extremely modest levels. The $10 Indian is a worthwhile coin to own—and these low-premium rare dates are clearly the best way to own $10 Indians.
We have 11 dates to choose from, but only 1 client can own all 11 date/mintmark coins. All coins are certified by either NGC or PCGS. The quantity available is in the pricing chart below. As stated above, for the first week, the 1907 coin will be reserved for clients putting together an entire 11 coin date run
Date  Qty.  Price 
1907 No Motto 1 Call for pricing and availability
1908 With Motto 22 Call for pricing and availability
1909 4 Call for pricing and availability
1910 8 Call for pricing and availability
 1910-D 5 Call for pricing and availability
 1911 Call for pricing and availability
 1912 Call for pricing and availability
 1913 Call for pricing and availability
 1914 10  Call for pricing and availability
 1914-D 14  Call for pricing and availability
 1915 Call for pricing and availability
This is the delivered price.* There is no additional cost for shipping, handling or insurance. While supplies last, the price you see is the price you pay.
Call – 800-831-0007 - or e-mail me today to purchase your coins and to take advantage of this low price before the market discovers the price anomaly.
* Prices are subject to change based upon product availability and due to market fluctuation.