In the 1870s, in the wake of the Industrial Revolution, international trade was rapidly expanding. The United States exported cotton, iron, copper, and manufactured goods. However, American businesses faced a major challenge: currency compatibility. While countries like Spain had the 20-peseta, Italy the 20-lire, and Britain the sovereign—all widely recognized in global markets—the U.S. lacked a coin that was similarly accepted in international trade.

In 1879, John A. Kasson, the U.S. envoy to Austria-Hungary, proposed a U.S. $4 gold coin that would state its metallic content in the metric system, making it more simple for Europeans to use.

Some in the U.S. government thought this coin could be the basis for a new international monetary system and could facilitate international trade and travel for U.S. citizens.

Today, that $4 gold coin is reverently known as Stella and the stories around this legendary coin abound in the numismatic community.

To explore the idea of a new $4 gold coin, the U.S. mint developed a pattern coin—never circulated—as an example for the U.S. Congressmen to review. The beautiful $4 gold coin which features a five-pointed star on the reverse was quickly nicknamed Stella. Why? The Latin word for star is stella.

Designed by Charles Barber, the Flowing Hair $4 Stella had a tiny mintage of 425. While never circulated and never offered for sale to the public, these fascinating coins were emerging in the most unlikely places.

Following their release to Congress for review, these coins made with 7 grams of gold, were famously spotted as medallion necklaces hung on madam’s bosoms in high-end brothels in Washington D.C. These brothels were known to serve illustrious clientele – like U.S. Congressmen.

These fancy D.C. brothels were infamous for large oil paintings, fancy red plush parlor furniture, pricey European carpets, and real silver on the table. Guests and residents feasted on gourmet meals. The expensive French champagne was ever-flowing. And in these brothels, Washington’s most famous madams proudly flaunted these exceedingly rare coins. Some Stellas can be found today that reveal traces of the necklace loops.

Congress ultimately rejected the idea of an international coin. Today, the $4 Stella is extremely rare and in high demand as an example of America’s outstanding numismatic art. As a “type” coin, some might call it one of the most influential and sought after 19th century gold coins ever minted. In an unusual twist for American coinage, because Stella was intended for international commerce, the obverse states its metallic content in the metric system and the coin bears an unusual inscription “★6★G★.3★S★.7★C★7★G★R★A★M★S★” on the obverse stating the gold content.

These storied gold coins were minted just over 100 years after America gained independence from England. Our nation’s economy was growing rapidly and part of America’s historic Gilded Age. Wealthy industrialists and businessmen like John D. Rockefeller, Andrew Carnegie, J.P. Morgan, and Cornelius Vanderbilt built storied empires and contributed greatly to society through their philanthropy. The $4 Stella is a historic gem from this exciting time in American history. Oh the stories this coin could tell, if it could only talk.

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Representing a significant chapter in American numismatics, Indian Head gold coins were produced from 1907 to 1933. Roosevelt eventually recalled these coins in 1933, leading to their melting and creating a lasting impact on Indian Head gold coin value today. This article will explore their historical significance and highlight the key pieces every serious collector should consider, emphasizing:

• How the gold Indian Head coin evolved from concept to creation
• The unique role of these special coins in shaping American currency
• Where to source an authentic 1910 gold Indian Head coin and other key dates

Watch an amateur collector discuss Indian Head Quarter Eagles in this fascinating video:

Indian Head Gold Coins worth collecting

President Theodore Roosevelt’s vision for more artistic American coinage led to one of the most significant transformations in U.S. Mint history. In 1907, he commissioned renowned sculptor Augustus Saint-Gaudens to redesign the nation’s gold coins. Before his untimely death, Saint-Gaudens managed to create the stunning $10 Eagle which featured Liberty wearing an Indian headdress, a design that would influence all subsequent Indian Head gold pieces.

After Saint-Gaudens’ passing, his former student Bela Lyon Pratt took on the $2.50 Quarter Eagle and $5 Half Eagle designs. Building on the legacy of the first $2.5 Indian Head gold coin, Pratt replaced the allegorical Liberty figure with a realistic Native American portrait. His innovative approach also introduced incuse (sunken) designs, a feature never before seen on American coins.

Production of Indian Head coins continued until 1933 when Franklin Roosevelt’s gold recall brought the era to an end. Many coins were melted, making certain dates particularly rare today. The series spans three denominations: the Quarter Eagle ($2.50), Half Eagle ($5), and Eagle ($10), each with its unique history and varying levels of rarity. Their combination of artistic merit, historical significance, and relative scarcity makes them particularly appealing to modern collectors.

Here are ten exceptional specimens from the Blanchard collection that showcase the series’ finest examples.

1. A beautiful $2.50 1908 gold Indian Head coin

While Saint-Gaudens’ $10 Indian Head designs debuted in 1907, Bela Lyon Pratt’s innovative Quarter Eagle first appeared in 1908. The Philadelphia Mint struck 564,821 pieces, introducing a revolutionary incuse design where both the Native American portrait and eagle are sunken into the coin’s surface. This MS63 1908 Indian Head gold coin showcases the series’ characteristic medium greenish-gold color and frosty luster. While the obverse portrait shows strong detail, the eagle’s wing on the reverse typically lacks full definition due to the original die work, a feature common to this first year of issue. Many examples were preserved by collectors intrigued by the novel design, making this historically significant piece an essential addition to any serious collection.

1908 $2.50 Indian NGC MS63 CAC 

• Metal: Gold
• Year: 1908
• Check our most current price here

If you’re interested in other exceptional CAC-verified pieces, beyond this stunning $2.5 Indian Head gold coin, explore Blanchard’s premium CAC collection here.

2. A $2.50 1913 gold Indian Head coin that survived the melting pot

Despite being more available than some dates in the series, this MS63 example showcases the 1913 coin’s distinctive characteristics. The Philadelphia Mint’s output this year featured above-average luster and strong striking detail, evident in this specimen’s light to medium yellow-gold surfaces. While the 2 1/2 dollar Indian Head gold coin value varies widely by condition, this carefully preserved piece offers collectors an excellent entry point into the series.

1913 $2.50 Indian NGC MS63 

• Metal: Gold
• Year: 1913
• View our most current price here.

3. A distinctive $2.50 Indian Head gold coin from 1914

The Philadelphia Mint struck just 240,000 of these Quarter Eagles in 1914, creating what would become one of the series’ key dates. This MS65 $2.50 Indian Head gold coin specimen showcases exceptional strike quality and beautiful greenish-yellow gold surfaces with superior luster. Such pristine examples rarely appear (typically only once or twice annually at auction) making this CAC-verified piece especially desirable for seasoned collectors.

1914 $2.50 Indian PCGS MS65 CAC

• Metal: Gold
• Year: 1914
• Get our most current price here.

4. Another special 1914 $2.50 Indian Head gold coin

While $2.50 Indian Head gold coin value varies significantly by mint mark, this Denver Mint example represents an important variant of 1914 production. Unlike its Philadelphia counterpart, the 1914-D shows characteristics unique to coins struck at the Denver facility. This MS63 specimen exhibits a better-than-typical definition, as many 1914-D pieces show less distinct details on both the obverse and reverse. Though not as widely celebrated as the Philadelphia issue, the 1914-D is more elusive in higher grades, making this well-preserved example particularly noteworthy.

1914-D $2 1/2 Indian NGC MS63

• Metal: Gold
• Year: 1914
• View our most current price here.

5. A $5 1909 Indian Head gold coin that stands the test of time

From a limited mintage of 297,200 pieces, this San Francisco Mint $5 gold Indian Head coin is among the rarest in the series. Most examples entered circulation immediately, making this MS62 CAC-verified specimen particularly significant. The 1909-S typically displays sharp striking detail, including a bold mintmark, and exhibits rich coppery-gold coloring with frosty luster. Of special note is its status among San Francisco issues: it rivals the 1915-S in rarity and surpasses the lower-mintage 1908-S in scarcity.

1909-S $5 Indian PCGS MS62 CAC

• Metal: Gold
• Year: 1909
• See our most current price here.

6. A scarce $5 Indian Head gold coin 

With just 72,500 pieces minted, this 1911-D Half Eagle is one of the series’ prime rarities. This AU58 Indian Head gold coin $5 example represents the highest circulated grade, just shy of Mint State condition. The Denver Mint’s characteristic well-defined strike is evident, including a fairly bold mintmark. While most 1911-D pieces entered circulation, this near-mint specimen displays exceptional preservation, retaining much of its original granular surface texture and luster.

1911-D $5 Indian NGC AU58 CAC

• Metal: Gold
• Year: 1911
• Get our most current price here.

7. A $5 1915 Indian Head gold coin in pristine condition

The Philadelphia Mint’s 1915 $5-dollar Indian Head gold coin stands out for its exceptional preservation and visual appeal. This MS64 example showcases the date’s characteristic sharp strike, finely granular surfaces, and vibrant luster. The coin displays rich tangerine-gold and peach-orange tones, particularly visible in the recessed areas of the incuse design. While the 1915 coin is more obtainable than some dates in the series, finding examples this well-preserved remains a significant challenge for collectors.

1915 $5 Indian CACG MS64

• Metal: Gold
• Year: 1915
• Have a look at our most current price here.

8. A magnificent $10 Indian Head gold coin minted in 1907

This first-year Saint-Gaudens design represents the “No Periods” variety, distinguished by the absence of periods before and after the inscription “TEN DOLLARS” on the reverse. This MS63 gold Indian Head coin displays the characteristic satiny surfaces and excellent luster typical of the issue, with rich yellow-gold to greenish-orange toning. While some weaknesses in Liberty’s hair curls and parts of the eagle are common to the date, the stars and legends show bold definition. Many 1907 pieces were preserved as first-year keepsakes, though finding high-grade examples can be challenging.

1907 $10 Indian NGC MS63 CAC

• Metal: Gold
• Year: 1907
• Check our most current price here.

9. A remarkable $10 Indian Head gold coin from 1908

This coin represents a pivotal design change in the series, i.e. the addition of “IN GOD WE TRUST” to the reverse, mandated by Congress after public outcry over its omission from Saint-Gaudens’ original 1907 design. While Indian Head gold coin value varies by date and condition, this MS62 example shows the typical sharp strike and excellent luster characteristic of the date, with satiny surfaces displaying rich yellow-gold to greenish-yellow coloring. Collectors particularly value this transitional year for its historical significance in the evolution of American coinage design.

1908 $10 Indian With Motto PCGS MS62 CAC

• Metal: Gold
• Year: 1908
• See our most current price here.

10. Another exceptional $10 1910 gold Indian Head coin

This MS63 Indian Head gold coin features the exceptional strike quality that makes 1910 Eagles stand out in the series. Most coins from this year display a distinctive frosty finish with finely granular surfaces, showing attractive orange and greenish-gold coloring. Some specimens, like this one, retain their original satiny luster with light to medium yellow-gold tones. This date represents an excellent opportunity for collectors seeking a high-quality example of Saint-Gaudens’ classic design.

1910 $10 Indian CACG MS63

• Metal: Gold
• Year: 1910
• Have a look at our most current price here.

Discover more exceptional $10 Indian Head gold coin specimens and other rare collectibles in Blanchard’s premium rare coin collection here.

Where to find Indian Head Gold Coins

The Indian Head gold coin series represents one of the most artistic and innovative periods in American coinage. These pieces combine historical significance, artistic merit, and genuine rarity, particularly in higher grades. For collectors seeking to acquire such important numismatic treasures, working with an established dealer like Blanchard ensures authenticity and quality. Trust Blanchard to help you build a distinguished collection of these historic American coins and more.

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