Gold Coins

Augustus Saint-Gaudens, considered by many the greatest of modern sculptors, introduced a new high standard of art in the United States coins evidenced by his eagle and double eagle types of 1907. The obverse of the eagle shows the head of Liberty crowned with an Indian war bonnet while an impressively majestic eagle dominates the reverse side. A departure from older standards is found on the edge of the piece, where 46 raised stars are arranged signifying the states of the Union, instead of a lettered or reeded edge (48 stars after 1912). The first eagles struck had no motto `In God We Trust' as did the later issues in 1908. President Theodore Roosevelt personally objected to the use of the Deity's name on coins. The people, however, felt differently. They lobbied members of Congress and senators until an Act of Congress restored the motto in 1908.

After Andrew Jackson regained control of the Bank of the US, the reissue of $10 Gold pieces resumed in 1838, having ended in 1804, with the first Liberty Head designed $10 Gold pieces. Part of the four-piece series that includes the $20, $10, $5, and $2.5, the $10 Liberty Head features the head of Miss Liberty on the obverse and the spread wing Eagle on the reverse. With a few minor changes in 1838 and 1839, the coin would remain the same until the end of its production in 1907.

Indian Half and Quarter Eagles were struck from 1908 through 1929 at the mints in Philadelphia, Denver, and San Francisco. Only three coins have mintages below 100,000 coins. 1908 was the first year of the celebrated Bela Lyon Pratt incuse design, where the devices are in relief, but below the surface of the coin. The only other coin with this feature was the Quarter Eagle struck over the same years as the Half Eagle. Quantities of counterfeits reached the United States from Hong Kong in 1960, so certification is mandatory. The only great rarities of this design are the matte proofs, which were issued in very limited quantities. The design remained through 1929. After this, due to an inflated currency, most gold was coined into double eagles for international payments. They were unpopular because they are darker and duller than business strikes. Many were melted in 1916 as unsold. This design is one of the more artistically pleasing among 20th-century American coinages.

Minted from 1840-1907, the $5 Liberty Gold was the standard 1/4 oz size US gold coin during this era. Along with the $20, $10, and $2,5 counterpart, the Liberty design by Christian Gobrecht was a real workhorse coin used for the conduct of large purchases and commerce thought the US. Outside of Philadelphia, PA, as the main mint, $5 Liberties were also produced in New Orleans, LA, San Fransico, Ca, Carson City, NV, and Denver, Co.

One of the more unusual gold sizes is the $3 gold Coin minted from 1854-1889. Unlike other sizes that were revised later on, the $3 never made it into the 20th Century. With large gold reserves being mined in the US after gold discoveries on both the East Coast in the Northern Hills of Georgia and North Carolina and the West with the "Motherload" at Sutter's Mill in California, the mint had plenty of gold. It took up production of the $3 size gold pieces. As a mid-range coin, sized between the smaller $2.5 and slightly larger $5 coins, the $3 coin never really caught on with the public at large. Looking to vary the design from the existing $2,5 and $5 coins. The $3 design features an Indian Princess on the obverse and the closed wreath and dated reverse Outside three relatively common dates 1854, 1874 and 1878, this coin averages 200 times rarer than any other denomination.

This $2.50 gold coin was the result of the efforts of Doctor William Bigelow, a friend to President Theodore Roosevelt. In early 1908, Bigelow suggested making coins with devices sunk beneath the fields, thereby ensuring that the highest points would not be easily worn away. The late Augustus St. Gaudens had just designed two beautiful coins for the $20 and $10. However, it was Bela Lyon Pratt, who completed these incused coins. Indian Quarter Eagles were struck from 1908 through 1929 at Denver and Philadelphia. The mintmark was designed as the highest point above the surface of the coin. The model was a continuation of a theme begun in 1899 with G.F.C. Smillie's portrait of `Running Antelope' on the $5 silver certificate. The mint director held up production for months while adjusting the models. Counterfeits from Hong Kong were made in the '60s. Certification is mandatory. The only extreme rarities of this design are the matte proofs, which were issued in very limited quantities. Many were melted in 1916 as unsold. The design is one of the more aesthetically artistic among 20th-century American Coinages. The only difficult ones being the 1914 and 1911 D.

Part of the 4 Piece Liberty Head series that includes the $20, $10, $5, and this $2.5. This coin features the Head of Miss Liberty facing left and likes its counterparts the spread-winged eagle grasping an olive branch in its talons on the reverse. With a few small changes, this coin was the standard $2.5 design from 1840-1907.

The smallest by far of all of the United States Gold coins were the $1 Gold pieces, which came in three types known as Type 1, 2, and 3. With the slight size and design changes and the Longacre design reminiscent of the $3 gold coin, the type 2 Gold dollars only minted from 1854-1856 despite their small size, are amongst the rarest US gold coins.