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1908-P GOLD Eagle $10 Indian Head Coin: NO MOTTO
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1908-P GOLD Eagle $10 Indian Head Coin: NO MOTTO
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1908, Philadelphia-minted, $10 GOLD Eagle, "Indian Head" coin in circulated condition ; This is the "No Motto" variety. This piece was obtained from an estate jeweler and there are three identical, faint marks on the obverse of the coin's rim at the 12, 4, and 8 o'clock positions, suggesting that it was probably mounted in a setting and worn as a pendant necklace by the original owner. Original "orange peel" mint luster, typical of early 20th century gold "Type" coins issued by the US Treasury.
Background: The "War Bonnet" design of Augustus Saint Gaudens for the $10 Eagle is highly desired and collectible. It features "Miss Liberty" in an Indian Headdress with 13 stars argent on the obverse. The reverse depicts a majestic eagle, perched upon an olive branch. These coins also have 47 or 48 raised stars on the edge rim of the coin instead of the normal reeded or smooth edge more commonly utilized with US coins. The "No Motto" variant, was due to President Teddy Roosevelt's objection to the use of the Deity's name (In God We Trust) on US currency. His wishes were over-ruled by the US Congress, which restored the motto to all US coinage by legislation in 1908. Composition: The $10 Eagle is a gold piece of 0.900 bullion fineness (.900 Gold and .100 Copper) and weighs 16.718 grams. The weight of pure 24KT gold in the coin is therefore 0.48375 Troy ounce. With the London Merc spot price of gold above $1,400 per Troy ounce, due to the de-valuation of the US dollar by the Treasury, the "melt" or destruction value of this coin is $677.25 or almost 68 times the face value of the coin when issued for circulation a century ago. No other US minted coins for circulation have ever appreciated that significantly in value, due to their precious metal content, and that fact makes these coins a "safe-haven" and investment vehicle in a troubled US and world economy. This is the easiest way to hold precious metal as a security (gold bullion), which is the preferred "hedge" against rampant inflation going forward in the US economy. Condition: This 103 year old, 1908 Eagle is in circulated condition and shows wear on the high points of the devices (hair and feathers on the obverse; eagle's left wing and left leg on the reverse). It has been worn as jewelry (probably a necklace) and bears faint rim marks from the prongs of the setting (see macro photos). As there were only 341,370 Business strikes in 1908 for the Philadelphia mint of the No Motto coin, and with the number of these coins which were collected by the Treasury and melted due to Executive Order, the survivability of $10 gold Eagles is very low. Bottom line is that the history, Federal law, low mintage, and pure gold content have interacted to make this coin very scarce; therefore, rarity is also a significant factor in the coin's numismatic value. Bidding Info: The London spot price of Gold as of Monday 3/8 was $1432.70 with $1500+ in sight if the Egypt and Libya situation erodes. , my feedback rating over 11 years with eBay is 100%. No Reserve auction with the opening bid BELOW the MELT value. PayPal preferred. Ship/ Handling/ Insurance by 1st Class, insured mail due to value or your may pickup the coin. Good luck with your bidding (snipe bidding a certainty on this one). Message me with questions. Thanks for your interest. Rick 
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