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Indian Head Eagle

Indian Head Eagle

The Indian Head 1/2 Eagle ($5) and 1/4 Eagle ($2.50) designed by Bela Lyon Pratt are considered some of the finest United States gold coins ever minted.


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1
Half Eagle.
Half Eagle.
The last 5$ gold piece, popularly known as the Half Eagle was designed by Bela Lyon Pratt. The coins are now highly respected by collectors but, it didn't start out that way. The coin had many things about it that were unique. The most obvious is that the design instead of standing above the surface of the coin it was sunken into the coin.

This was done to minimize wear and, according to some sources because President Roosevelt thought it made the coins look more "regal" mimicking the look ancient Roman coinage. Still other sources credit the president's friend William Sturgis Bigelow who wanted the coins to be more stack-able.

Unfortunately critics though this meant the coin would fill with dirt and transfer disease. 
 
2
Quarter Eagle.
Quarter Eagle.
The half eagle was minted from 1908 to 1916, and in 1929. The matching quarter eagle was minted from 1908 to 1915 and from 1925–1929. The reason for the interruption was WWI. The end came as gold coins were removed from circulation.

The previous version of the $2.50 and $5.00 gold pieces omitted the motto "In God We Trust". This caused considerable controversy. It was assumed Congress was going to pass a law mandating it so it was included in the design even thought it would be some time before it became law.  
 
3
Indian Head Eagle Coin Comparison.
Indian Head Eagle Coin Comparison.
This photo shows that the quarter eagle and, half eagle were comparable in size to modern cent and nickle coins. In terms of spending power when you adjust for inflation you could have used the 1908 $5.00 coin to buy what in 2018 would cost you about $141.00!

The coins were never very popular in circulation but, people thought they made great Christmas and birthday gifts. 
 
4
Our New Gold Coins.
Our New Gold Coins.
The Concord (North Carolina) Daily Tribune, Monday, November 16, 1908 page 2. 
 
5
Big Change In Gold Coin.
Big Change In Gold Coin.
The Weekly Clarion Ledger, Jackson, Mississippi, Thursday, December 3, 1908 page 7. 
 
6
Urge New Design For Coin.
Urge New Design For Coin.
Poughkeepsie (New York) Eagle News, Thursday, December 31, 1914 page 2. 
 
7
Chief Hollow Horn Bear.
Chief Hollow Horn Bear.
Perhaps the most important feature of the coin was the portrait. It has long been assumed that President Lincoln was the first actual person to be featured on a U.S. coin minted for circulation.

It is not until recently that researchers have confirmed that Bela's coin design was that of a living person. Before Bela's coin Indian head coins were fictional and often contained cultural inaccuracies.

Through archived letters and pictures that Bela left behind when he died researchers have confirmed that Bela's design is the likeness of Chief Hollow Horn Bear, a Brulé Lakota leader. He fought in the battles of the Sioux Wars, including the Battle of Little Big Horn. The Lincoln cent was released in 1909 so the Chief was the first actual person on a U.S. coin by a year.  
 
8
Chief Hollow Horn Bear.
Chief Hollow Horn Bear.
Six tribal leaders. Chief Hollow Horn Bear is second from the right. The occasion was Teddy Roosevelt's inauguration in 1905.

The Chief made a number of trips to Washington D.C. and even argued in front of the Supreme Court on behalf of his people.

After his death is likeness appeared on a U.S. Postage stamp and a Military Payment Script (a form of paper currency). Because Bela worked from photographs the chief may never have known he was on this coin. 
 


Linked to Bela Lyon Pratt (14199)