Eagles: The $10 Gold Workhorse

Eagles ($10 gold pieces) were among the original denominations authorized in 1792 and minted until 1933. Design types include Capped Bust, Coronet Head, and Indian Head. The Indian Head Eagle (1907-1933), designed by Augustus Saint-Gaudens, is renowned for its artistry. These substantial gold coins contain 0.4839 troy ounces of gold. The 1933 examples are extremely rare and valuable, as most were melted before release following the gold recall.

Early Eagles (1795-1804)

Capped Bust Right, Small Eagle (1795-1797)

The first $10 gold coins featured Liberty with flowing hair and a small heraldic eagle. Only produced for three years with limited mintages. These are among the rarest and most valuable regular-issue U.S. coins.

Capped Bust Right, Large Eagle (1797-1804)

The large eagle design replaced the small eagle in 1797. Production was sporadic and ended in 1804. After 1804, no eagles were produced for 34 years due to the unfavorable gold-to-silver ratio that caused most coins to be melted or exported.

The 34-Year Gap (1805-1837)

No eagles were struck from 1805 to 1837. The gold content was too high relative to the coin's face value, making it profitable to melt them or ship them overseas. This hiatus ended with the Coinage Act of 1834, which reduced the gold content.

Coronet Head/Liberty Head (1838-1907)

Design Features

Christian Gobrecht's Coronet design showed Liberty wearing a coronet inscribed "LIBERTY." This design served for 69 years and became iconic of American gold coinage. The reverse featured a heraldic eagle with shield.

Major Varieties

• No Motto (1838-1866): Original design without "In God We Trust"
• With Motto (1866-1907): Motto added above eagle
• Different head sizes: "Old Head" (1838-1839) vs. "New Head" (1839-1907)

Branch Mint Production

Eagles were struck at Philadelphia (no mint mark), New Orleans (O), San Francisco (S), Carson City (CC), and Denver (D). Carson City eagles are particularly popular due to limited production and Old West romance.

Key Dates - Coronet

• 1858: Very low mintage of 2,521
• 1863: Civil War rarity, only 1,248 struck
• 1864-S: Scarce San Francisco issue
• 1870-CC: First Carson City eagle, very rare
• 1873-CC: Low mintage, high demand
• 1875: Only 100 business strikes
• 1876-CC: Low survival rate
• 1883-O: Very low mintage

Indian Head (1907-1933)

Saint-Gaudens' Masterpiece

Augustus Saint-Gaudens, America's foremost sculptor, designed what many consider the most beautiful U.S. coin. President Theodore Roosevelt commissioned Saint-Gaudens to redesign American coinage, seeking artistry to match ancient Greek and Roman coins.

Design Features

• Obverse: Liberty wearing Native American war bonnet, facing left
• Reverse: Standing eagle on branch with shield
• Stars: 46 stars (1907-1911), 48 stars (1912-1933)
• No Motto (1907-1908): "In God We Trust" initially omitted
• With Motto (1908-1933): Motto added after public outcry

1907 Varieties

• Wire Rim/Rolled Edge: First strikes with unique edge, extremely rare
• Periods: "PLURIBUS" with periods before and after, scarce
• No Periods: Most common 1907 variety

Key Dates - Indian

• 1907 Wire Rim: Extremely rare, under 500 known
• 1907 Periods: Scarce first-year variety
• 1911-D: Low mintage Denver issue
• 1920-S: Scarce San Francisco issue
• 1930-S: Low mintage, only 96,000 struck
• 1933: The great rarity - most were melted before release

The Legendary 1933 Eagle

In 1933, 312,500 eagles were struck at Philadelphia. However, President Roosevelt's gold recall executive order was issued before most could be released. Nearly all were melted. Only a few dozen are known to exist, most in institutional collections or foreign holdings from before the recall. These are among the most valuable U.S. coins.

Specifications

• Denomination: $10
• Diameter: 27mm (Coronet and Indian)
• Weight: 16.718 grams
• Composition: 90% gold, 10% copper
• Gold Content: 0.4839 troy ounces pure gold
• Edge: Reeded

Historical Role

Eagles served as a middle denomination for significant transactions. Not as large as double eagles but more substantial than half eagles, they were used for major purchases, bank reserves, and international trade. Their substantial gold content made them targets for hoarding during economic uncertainty.

Collecting Strategies

Type Set

Collecting one of each major type is achievable for most collectors. Early Capped Bust examples require significant investment, but Coronet and Indian Head types are more accessible in common dates.

Liberty Head Series

Building a date set of Coronet eagles (1838-1907) is challenging but possible, excluding major rarities. Focus on a specific mint or era to make the collection more manageable.

Indian Head Complete Set

The Indian Head series (1907-1933) is popular but challenging. The 1933 is essentially unobtainable for private collectors, but a set excluding this date is achievable with patience and resources.

Carson City Focus

Many collectors specialize in Carson City eagles. These Old West coins have romantic appeal and are scarce across all dates (1870-1893).

Grading and Authentication

Coronet Wear Points

• Hair above Liberty's forehead and ear
• Stars, especially the first and last
• Eagle's neck, breast, and leg

Indian Head Wear Points

• Cheekbone and hair details
• Feathers in war bonnet, especially at the ends
• Eagle's breast and left wing

Counterfeits

Due to significant gold content and numismatic value, eagles are frequently counterfeited. Rare dates and high-grade examples should always be purchased certified by PCGS, NGC, or CAC. Check weight, diameter, and details carefully.

Market and Value

Eagles combine bullion value with numismatic premiums. Common date Coronet eagles in circulated grades trade near melt value, while Indian Heads typically command higher premiums. Rare dates, high grades, and Carson City issues can reach six or seven figures.