President Theodore Roosevelt admired coinage to a flaw, or was it? His dreams of changing American coinage at large became a personal vendetta. Not very pleased with the generic Lady Liberty designs of the 1800’s, he sought to beautify American coinage and change the way the world saw American coins. One of his many successes being the $2.5 gold Indian.
After seeking someone that could help him breathe life into his ideology. Bela Lyon Pratt was the designer that sculpted what is known today as out $2.5 and $5 Gold Indian Head. Her masterpiece is often known as an incused or sunken relief. Her design of Indian Chief Hollow Horn Bear revolutionized American coinage and to this day is the only coin made like it. The Indian Head has a historical value, which have regained their popularity over the past 30 years.
The $2.5 gold Indian often known as the quarter eagle was first minted in 1908. Produced from 1908 to 1915 and then from 1925-1929, the Indian design took Americans by storm. In its inception, people were allocating these beauties in droves. Not only were people raving about the design, but the way the coin was minted added to the curiosity. Designed with an incused (engraved) feature as if the mint dug into the field of the coin puzzled many Americans alike.
After the confiscation that took place in 1933, the majority of the coins were melted down for their weight. Pre-1933 gold coins cost a little more than their modern counterparts. They command a little more than the spot price of a modern coin, because of their scarcity.