$2.50 Indian US Gold Coin, Quarter Eagle, minted from 1908-1929 (Random Coins)
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Contains .12094 oz of Gold.
Multiples of 50 are packaged in plastic tubes. All other coins will be in protective plastic flips.
Obverse: Displays a masculine image of Liberty wearing a full headdress encircled by 13 stars with the word "Liberty" above and the date below.
Reverse: Features a majestic bald eagle. Surrounding the eagle is "United States of America," "E Pluribus Unum," "In God We Trust," and the denomination “2 1/2 Dollars.”
Designed by Bela Lyon Pratt and minted from 1908-1929.
U.S. Mint issue from the following mints: Philadelphia or Denver.
The beautiful sunken relief design of this coin adds to the collectibility of this series. Enhance your collection by adding this $2.50 Indian US Gold Coin to your cart today!
Dates on these random year coins will be of our choosing and may or may not vary, determined by stock on hand. We reserve the right to cancel this deal due to changes in the market.
Following the Coinage Act of 1792, the United States Mint began issuing Gold coins in 1795.
There are a variety of sizes and designs of pre-1933 Gold coins available.
In 1850, in response to the Gold Rush in California and the increasing amount of Gold available in the United States, the Double Eagle was introduced.
American Gold coins struck before 1933 are some of the rarest, desirable and beautiful in the world.
From $1 Liberty Head Gold coins to the $2.5 US Gold coins, the $5 US Gold to the $10 US Gold coins, and the coveted Saint-Gaudens Double Eagle, these coins are all a piece of our US history.
In 1933, President Franklin Roosevelt issued Executive Order 6102, which forbade the “hoarding of Gold Coin and Gold bullion within the United States.” As a result of this order, the possession of monetary Gold owned by any person, partnership, or company was pulled out of circulation. Almost all Gold was exchanged for paper money.
Exceptions were made for collector coins and jewelry.
As the Great Depression ravaged the economy, it was ordered that all Gold be turned into the U.S. Mint to be melted down. The belief was that if US citizens could not legally redeem gold, it would end the Federal Reserve's constraints.
The following year, President Roosevelt signed the Gold Reserve Act of 1934.
This act required that all Gold (except for jewelry and collector’s coins) and Gold certificates held by the Federal Reserve be sold to the United States Treasury.
The law also changed the nominal price of Gold from $20.67 per troy ounce to $35.00 per troy ounce.
Because of this, foreign investors flocked to export their Gold holdings overseas to the United States, and the dollar devalued to spark inflation. The increase in the money supply increased real interest rates and encouraged more investments in durable goods. After the Gold Reserve Act, inflation drastically increased from -9.8 percent to 2.3 percent and has not dropped below -2.1 percent since.
Because of Executive Order 6102, Gold coins produced by the U.S. Mint before 1933 are scarce.
The coins that remain today have withstood the test of time and survived a governmental expropriation of Gold. These coins are a beautiful testament to the art and history of the coins themselves and the United States of America.
Indian Head $2.50 Quarter Eagle
Indian Head quarter eagle never a health hazard By Michele Orzano.
COIN WORLD Staff - Augustus Saint-Gaudens was commissioned by President Roosevelt in 1905 to redesign the nation’s gold coinage.
The famed sculptor began in earnest, preparing designs for the Indian Head $10 gold eagle and the $20 double eagle – but could not offer new designs for other gold coins before he died in 1907.
That's when a young Boston sculptor and artist – Bela Lyon Pratt – entered the picture and the numismatic history books. A student of Saint-Gaudens at the Art Students League, Pratt also served as one of his assistants. When Saint-Gaudens died, Pratt was given the assignment to complete the redesign efforts his mentor had started.
Pratt's work can be seen in his Indian Head designs for the gold $2.50 quarter eagle coin and the gold $5 half eagle coin.
The Indian Head design for both coins was introduced in 1908 and received mixed reviews.
Some praised his boldness in stepping away from the allegorical Liberty concept and replacing it with an intense-looking Indian wearing a feathered headdress and facing left. The obverse design was the first actual Indian to appear on U.S. coins.
Pratt's reverse design shows a majestic, standing eagle with a denomination below the eagle.
The designs are the same for both denominations.
Pratt's new designs replaced Christian Gobrecht's Coronet-crowned Liberty design used on the obverse of the quarter eagle from 1840 to 1907.
What earned Pratt some unpleasant remarks was the way the designs were struck on the coins.
Pratt's design features devices in normal relief but recessed below the level of the fields. "This return to an ancient Egyptian concept called incuse-relief was advanced by Dr. William Sturgis Bigelow, a close friend of President Roosevelt. A knowledgeable collector, Bigelow was influenced by the 1837 Bonomi pattern crown of Queen Victoria, actually struck in similar incuse-relief style for her 1887 Golden Jubilee for antiquarian J. Rochelle Thomas," according to the Comprehensive Catalog & Encyclopedia of United States Coins, from the publishers of Coin World.
The $2.50 quarter eagle and $5 half eagle designs were strongly criticized, with some suggesting that the "incused" portions would "permit enough germs to accumulate to prove a health hazard." The reference to the health concern came from Samuel H. Chapman, a Philadelphia coin dealer, whose allegations included the charge that the incuse areas would be "a great receptacle for dirt and conveyor of disease, and the coin will be the most unhygienic ever issued." In fact, the new coins were a success and were issued until 1929 without causing any health problems.
Despite the complaints, Pratt's designs for the quarter eagle and half eagle remain popular in the 21st century.
Date of authorization: Jan. 18, 1837
Dates of issue: 1908-1929
Designer: Bela Lyon Pratt
Engraver: Charles Barber
Diameter: 17.78 mm/0.70 inch
Weight: 4.18 grams/0.13 ounce
Metallic content: 9 0% gold, 10% copper
Weight of pure silver: 3.76 grams/0.12 ounce
Mintmark: Reverse lower left
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