Photos used with permission and courtesy of Heritage Auction Galleries

Description:
In 1907 a collaboration between the dynamic president Theodore Roosevelt and renown American sculptor Augustus Saint-Gaudens resulted in new designs for both the twenty dollar gold coin and the ten dollar gold coin. The new design on the eagle featured a native American on the obverse, and a standing eagle on the reverse. The Indian was modeled after the figure of Nike (representing Victory) that was part of the Saint-Gaudens’ equestrian Sherman Monument located at the entrance to New York’s Central Park, and the reverse was a representation of America’s symbol, the bald eagle. While the sculptural effects of the original designs are admired (most noticeable on the Wire Rim and Rounded Rim pieces initially produced), the representation of Liberty adorned by a ceremonial headdress not worn by female native American was incongruous; and the eagle, though dramatically posed, is not an anatomically correct representation of a bald eagle (the legs are longer, for example).

Artistic license aside, a greater problem for the Mint was the reality that the raised edge of the first Indian Head eagles would not stack, and the modified rounded rim pieces apparently would not strike with satisfactory quality. It was left to the often maligned Mint Engraver Charles Barber to make additional changes (he had also changed the raised rim to the rounded rim) so that the Indian Head eagle could be produced efficiently and in sufficient quantities for commerce; or as one scholar described it, “turning unusable designs into something practical.” Barber’s efforts are often criticized, but the changes were successful in terms of production, and hundreds of thousands of the eagles were minted in the first two years of the type. The first Indian Head eagles omitted the motto IN GOD WE TRUST, which appeared on the previous Liberty Head eagle, and which was in fact mandated by the Act of March 3, 1865, but left off by Saint-Gaudens.

Many commentators attribute that omission to the sheer willpower of Teddy Roosevelt, who apparently believed that placing religious sentiment on circulating coinage was a form of blasphemy (the same coin that showed up in this week’s offering plate might be on the gambling table next week). Congress disagreed however, likely encouraged by strong public opinion, and the motto was added to the reverse for issues produced later in 1908. In what was perhaps a tribute to Saint-Gaudens’ artistic skills, Bella Lyon Pratt used a virtual copy of the gold ten dollar reverse eagle in his designs for the quarter eagle and half eagle gold coins of the same era. Indian Head With Motto eagles were minted yearly from 1908 through 1916, but none were minted from 1917 through 1919, 1921 through 1925, 1927 through 1929, or in 1931. Though over 300,000 With Motto Indian Head eagles were minted in 1933, the last year of the type, most were melted prior to extensive distribution after President Franklin Roosevelt’s April 1933 Executive Order 6102, which severely limited the possession of gold by U.S. citizens.

Liberty faces left on the obverse, wearing a many-feathered bonnet which displays LIBERTY across the front. Strands of flowing hair appear below the headdress at the forehead and across the side to the back. Thirteen six-point stars form an arc inside the top third of the raised rim above, though slightly touching, the feathers of the headdress. The date is centered at the bottom, crowding both the portrait and the rim. On the reverse a majestic eagle faces left and rests on a bundle of arrows with an olive branch intertwined. Inside the raised rim is UNITED STATES OF AMERICA at the top and TEN DOLLARS at the bottom, the words of both legends separated by centered, somewhat triangular dots. At the upper right, above but touching the eagle and below OF AMERICA is E PLURIBUS UNUM, each word on a separate line; to the left of the eagle is IN GOD WE TRUST, also in three lines. The edge has 46 raised stars through 1911, and 48 stars from 1912 forward (the stars representing the number of states in the Union). No Motto Indian Head eagles were minted at Philadelphia, Denver, and San Francisco; D and S mintmarks are to the left of TEN, below the tip of the olive branch, with the bottom edge parallel to the curved rim.

Tens of thousands of business strike With Motto Indian Head eagles have been certified, significantly more for 1926 and 1932, and significantly fewer for 1920-S, 1930-S, and 1933. Prices are moderate for many dates through MS62, expensive to MS64, and very expensive or extremely expensive finer. The more expensive issues, particularly as MS62 and finer, include 1920-S (extremely expensive finer than MS63), 1930-S (extremely expensive finer than MS65), other San Francisco pieces, 1911-D (extremely expensive finer than MS64), and 1933, extremely expensive in all grades. Proofs were struck from 1908 through 1915, and a few hundred examples have been certified. Proofs with Matte finish were produced in 1908, 1909 and 1911 through 1915; Satin finish proofs were made in 1908-1910. All Indian Head With Motto eagle proofs are very expensive to extremely expensive, particularly those examples finer than PR65.

Specifications:
Designer: Augustus Saint-Gaudens, with modifications by Charles Barber
Circulation Mintage: high 4,463,000 (1932), low 30,100 (1911-D). Mintage figures may not accurately reflect availability, due to gold coin recall and melting.
Proof Mintage: high 204 (1910), low 50 (1914)
Denomination: $10.00
Diameter: 27 mm, edge with 46 raised stars (48 stars from 1912 forward)
Metal Content: 90% gold, 10% copper
Weight: 16.72 grams
Varieties: A few minor die variations have been identified.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Encyclopedia of U.S. Gold Coins: 1795-1933. Ron Guth and Jeff Garrett. Whitman Publishing.
The Official Red Book: A Guide Book of United States Coins. R.S Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
The U.S. Mint and Coinage. Don Taxay. Arco Publishing
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 07/17/2009

Photos used with permission and courtesy of Heritage Auction Galleries

Description:
In 1916 Charles E. Barber’s designs for the dime, quarter, and half dollar were set aside, replaced by Adolph A. Weinman’s designs for the dime (Winged Liberty Head, or Mercury) and half dollar (Liberty Walking); and Hermon A. MacNeil’s design for the quarter. MacNeil, a noted sculptor for public works projects, placed a standing pose of Liberty on the obverse of the quarter and a soaring eagle on the reverse. His models for Liberty were likely silent film actor Dora Doscher (also known as Doris Doree) and Broadway actor Irene MacDowell. Though MacNeil’s design was a continuance of the artistic renaissance displayed on other coins of the early 20th century, one aspect of his portrayal of Liberty has been the subject of debate ever since: her partial nudity, specifically the undraped right breast. The 1896 $5 Silver Certificate had similarly exposed the female body, reportedly to the dismay of the ladies of Boston society, which resulted in some bankers refusing to handle the notes.

MacNeil’s Liberty was covered up in 1917 (thus producing the Type 2 style) not by extension of her cloth robes but by a somewhat incongruous chain mail vest, and many assume the reason for the change was public disapproval of the nudity. However, some well-respected scholars disagree, noting that no contemporary accounts of such objections are known, and that it was instead MacNeil’s decision to change the design, based on his dissatisfaction with elements of the original effort. The new portrayal may have been a message of America’s military preparedness, while others suggest changes were made without MacNeil’s approval (perhaps by Mint Engraver Charles E. Barber); the discussion is ongoing. The duality of opinion is evident in the fact that one author describes the two types as “Bare Bosom” and “Covered Bosom”, while others focus not on Liberty but instead on the change in star placement on the reverse, calling the two types No Stars Below Eagle and Stars Below Eagle.

To protect it from excessive wear from its exposed position, the date was recessed in 1925, a change considered a third type of the series by some collectors. No quarters were minted in 1922, and though occasionally alleged to exist in the Standing Liberty series, no 1931 quarters are known. Standing Liberty quarters also include a popular sub-type, that of quarters with a “Full Head” classification, which refers to the presence of details in Liberty’s head. Those details include distinguishable leaves in Liberty’s hair, distinct hairline, and evident ear detail. Some authorities suggest that the complete presence of all the rivets in the shield held by Liberty is an alternative, perhaps better indicator of a full strike. However, both head and rivet detail may not be present in the same coin, but only the presence of head detail defines the subtype. In 1932, the quarter was again modified to commemorate the bicentennial of George Washington’s birth.

The obverse displays Liberty standing in the opening of a wall or parapet, right leg resting on the base but left foot raised as if she is walking forward. Her long flowing gown drapes loosely and is wrapped around her right arm, but falls off the shoulders to reveal a chain mail armor vest. The gown is partly open at the bottom front (the hem held up by a clasp), displaying the right leg to above the knee. On many coins Liberty’s navel is clearly visible through the thin material. Her left arm holds a circular shield as if in a defensive posture; the shield displays the Union shield and several concentric rings including a circle of raised dots or rivets near the edge. Liberty’s right arm is extended outward, resting on a portion of the wall, and her hand holds an olive branch. Another loose drapery covers the bottom part of the shield, extends across the front of Liberty, and ends beneath the arm on the top of the wall.

The word LIBERTY arcs across the top of the coin, B and E separated by Liberty’s head. Both wall sections display a rectangular panel of horizontal stripes, with IN GOD at the top of the left wall and WE TRUST (the U depicted as a V) similarly located on the right wall. Thirteen five-point stars form two columns along the wall edges next to the opening, seven to the left and six to the right (the top left star follows the D in GOD). The step upon which Liberty stands displays the date in raised numerals; the date is recessed below the top edge of the step from 1925 forward, though still in raised digits. The designer’s initial M is to the right of the bottom star in the right column, and for quarters minted in Denver or San Francisco, D and S mintmarks are located to the right of the bottom star in the left column. Inside the flat rim is a concentric ornamental ring comprised of bars and dots; the ring is broken by the step that displays the date.

The center obverse shows an eagle in flight, headed to the right, wings outstretched and raised. Inside the flat rim is a concentric ring of UNITED STATES at the top, QUARTER DOLLAR at the bottom, with five five-point stars separating UNITED and QUARTER on the left and five five-point stars separating STATES and DOLLAR on the right. Three additional five-point stars are below the eagle, above QUARTER DOLLAR. OF AMERICA, in two lines and of smaller-sized letters, lies below UNITED STATES; below that text in even smaller letters is E PLURIBUS UNUM on two lines, each letter U again shown as a V.

Several hundred to a few thousand business strike Standing Liberty Type 2 quarters have been certified for each date, more for the 1920s and 1930s coins. A few hundred Full Head examples are listed for most dates and mintmarks. Prices are modest for many issues through MS63, becoming expensive to very expensive as MS64 and finer. Higher priced coins are the 1918-S, 8 Over 7, 1923-S, 1927-S, and Full Head examples. Some Full Head pieces are extremely expensive as MS64 and finer. No official Standing Liberty Type 2 proofs were made.

Specifications:
Designer: Hermon A. MacNeil
Circulation Mintage: High 27,860,000 (1920), low 396,000 (1927-S)
Proof Mintage: None officially known
Denomination: Twenty-five cents (25/100)
Diameter: 24.3 mm, reeded edge
Metal Content: 90% silver, 10% copper
Weight: 6.25 grams
Varieties: A very few identified including 1918-S, 8 Over 7; 1928-S Large and Small S; and other minor die variations.

Additional Resources:
CoinFacts: www.coinfacts.com
Coin Encyclopedia: www.ngccoin.com
Standing Liberty Quarters. J.H. Cline. Zyrus Press.
The Official Red Book: A Guide Book of United States Coins. R.S. Yeoman (author), Kenneth Bressett (editor). Whitman Publishing.
A Guide Book of United States Type Coins. Q. David Bowers. Whitman Publishing.
United States Coinage: A Study by Type. Ron Guth and Jeff Garrett. Whitman Publishing.
The Experts Guide to Collecting & Investing in Rare Coins. Q. David Bowers. Whitman Publishing.
Walter Breen’s Encyclopedia of U.S. Coins. Walter Breen. Doubleday.

Last Updated : 07/17/2009