The 1907 American Eagle Coin is famous amongst coin buffs for a number of reasons. Often referred to as an Indian coin, the 1907 eagle contains striking designs but is probably most famous for what it doesn’t contain. In the world of coin minting, an eagle is more than a bird but is rather the largest denomination referring to gold coinage issued by the United States.
The early 1900s US coins are renowned for their beauty and detail. This sea-change occurred specifically upon the election of Theodore Roosevelt as President. Roosevelt had long been unhappy with what he viewed as the bland and unattractive nature of current US coinage, specifically the higher-profile gold coins. Roosevelt felt coins were a physical representation of a nation and felt that the US needed a coin to better reflect the country’s growing international economic power.
Roosevelt commissioned famed sculptor Augustus Saint-Gaudens to begin work on redesigning American coinage. In his previous work, Saint-Gaudens had been famous for his depictions of Lady Liberty and he brought this expertise to his coin designs. One of the first designs submitted became the $10 gold coin.
The Indian Coin gets its moniker from the striking design on its obverse. A profile bust of Lady Liberty takes up the majority of the face. Originally designed with the classic laurel wreath crown, Roosevelt insisted that the figure instead be fitted with an American Indian war headdress. Thirteen stars arc the top of the coin representing the 13 original States of the Union. The reverse shows a classic Saint-Gaudens designed eagle, this one standing upon a bundle of arrows.
Controversy about this coin and other minted coins during this time period occurred when it was decided that the motto “In God We Trust” would be omitted from the design. The motto had appeared on almost every US gold coin previously. However, Roosevelt felt that the presence of the motto was disrespectful to God, especially in the cases where coins would be used for “vices” such as saloons, brothels, or for gambling purposes. Congress and a large portion of public opinion disagreed and viewed the absence of the motto as irreligious and secularly profane. Congress eventually won out and the motto was reinstated midway through 1908, but the entire 1907 series was minted without the ubiquitous motto.
Prices of gold coins have surged upwards in recent years, thanks primarily to the skyrocketing price of gold itself. The $10 American Gold Eagle (Indian) is currently selling at prices approaching $800. Investors seeking the refuge of physical gold from the uncertainty of other money or securities have increasingly turned to coins as a convenient way to own gold. That, coupled with the uncommon qualities of the 1907 $10 coin, has generated significant interest in owning this beautiful piece.