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The Indian Head eagle, designed by Saint-Gaudens, was the basis for the designs for the smaller gold pieces. Originally it was the intention to give the $5 and $2.50 pieces the same design as that used on the double eagle or $20 piece, but before final action to that end was taken President Roosevelt invited me to lunch with him at the White House.
At Roosevelt's direction, the Mint hired Saint-Gaudens to redesign the cent and the four gold pieces: the double eagle ($20), eagle ($10), half eagle ($5), and quarter eagle ($2.50). The Liberty Head design had been first struck for the eagle in 1838; [2] the last addition to the Liberty Head gold series was the double eagle, first struck for ...
By 1834, the gold in the half eagle had been worth more than its face value for several years. The Act of June 28, 1834 called for a reduction in the gold used. The weight of the coin was reduced to 8.36 grams, the diameter reduced to 22.5 mm, and the composition changed to .8992 gold and .1008 silver and copper.
Indian Head eagle, U.S. $10 gold piece issued between 1907 and 1933 Indian Head gold pieces , U.S. coins issued between 1908 and 1929 Indian Head nickel , U.S. five cent coin (1913–1938)
Seven distinct types of coin composition have been used over the past 200 years: three base coin alloys, two silver alloys, gold, and in recent years, platinum and palladium. The base metal coins were generally alloys of copper (for 2 cent coins and lower), and copper/ nickel (for 3 and 5 cent coins).
The design of the American Buffalo gold bullion coin is a modified version of James Earle Fraser's design for the Indian Head nickel (Type 1), issued in early 1913. After a raised mound of dirt below the animal on the reverse was reduced, the Type 2 variation continued to be minted for the rest of 1913 and every year until 1938, except for 1922, 1932, and 1933 when no nickels were struck.
This practice led to significant coin rarities in the Capped Bust series of gold coins minted from 1808 to 1834. [3] Gold specie fineness was reduced from .9167 fine to .8992 fine and the gold to silver ratio was increased to 16:1. This action was extremely astute and ensured that the new $2.50 and $5 coins would remain in circulation.
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