The U.S. Indian Head sets' smallest denomination is the $1 Indian Princess. Originally minted in 1849, it was revised twice until its production stopped in 1889. Select Type 2 Indian Princess’ (Small Head), which are very rare (since they were only minted for 3 years) are worth in excess of $200,000 dollars today!
In 1905, President Theodore Roosevelt was viewing Greek coins at the Smithsonian Institute and was amazed by the beauty of these coins. He felt the U.S. coinage to be bland. That sparked his decision to redesign all of the U.S. coinage at the time. He wanted the coins to reflect America’s greatness and world status. U.S. coinage was bland by comparison. That sparked his decision to redesign all of the U.S. coinage at the time. He wanted the U.S. coins to reflect America’s greatness and world status.
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He then commissioned sculptor Augustus St. Gaudens to design a coin that is now considered to be the most beautiful coin of all time! Unfortunately St. Gaudens passed before he could complete the rest of the set. A coin that is now considered the most beautiful coin of all time. Unfortunately St. Gaudens passed away before he could complete the rest of the beautiful set.
After St. Gaudens passing Roosevelt was able to contract Bela Lyon Pratt, one of St. Gaudens closest pupils, to finish the set. He shocked the numismatic community by creating a coin with "incuse" legends and motiffs.
These are the only U.S. coins minted in this manner. This coin was only minted for 13 years, which makes it a valuable addition to any coin collection. The set was finally complete after these designs were created. St. Gaudens designed the $20 and $10 Eagles, and his pupil Pratt designed the $5 and $2.50 incuse Indians. These beautiful coins however were short lived when 26 years after their creation 90% of them were melted down. In 1933 when the U.S. left the gold standard and FDR made the private ownership of gold in the U.S. illegal.
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