1907 P Indian Head Gold $10 Eagle : Wire Rim - No Stars on Edge - Unique

Type 1 - No Motto

Mintage: 2
Minted at: Philadelphia

Designer - Engraver: Augustus Saint Gaudens
Metal Composition: 90% Gold - 10% Copper

Diameter: 27 mm
Mass / Weight: 16.72 grams

What this coin looks like (obverse, reverse, mint mark location, special features, etc.):
1907 Wire Rim Plain Edge - Indian Head $10 Gold Eagle - Ten Dollars
There were multiple varieties of the 1907 $10 Gold Indian Head Eagle - some extremely rare and valuable. One major variety is the "Wire Rim" type with a Plain Edge - which is actually a semi-unique pattern coin. This "Wire Rim" design was actually the original design created by Augustus Saint Gaudens - which did not include a rim on the coin. The coin making process created a "fin" of excess gold that could easily be broken off and devalue the coin - making it troublesome for trade. The lack of rim also caused the date and design to be worn down prematurely. Eventually Chief Engraver Charles Barber included a rim to the die in order to solve the problem. About 500 of these coins were produced and distributed to government officials. Barber's Rounded Rim (or Rolled Rim) design is easily distinguishable with the addition of the rim on the coin. The difference between the Wire Rim vs Rolled Rim is depicted below in the example comparison image (Source of example images is courtesy of Heritage Auction Galleries):

1907 Wire Rim vs Rounded Rim - $10 Indian Head Gold Half Eagle - Difference and Comparison

These coins typically have 46 raised stars on the rim of the coin. What makes this coin unique is that it has a plain edge with no stars. This is actually a pattern coin produced by the US Mint in July of 1907 as trial pieces to see how the coin would look. One was sent to the President of the United States and the other piece was sent to Augustus Saint Gaudens. This piece is likely to be the actual coin of his design that he saw - considering that he died August 3 of 1907 before the rest of the coins were produced. Only 1 coins is known to exist - but there is still a chance that the other coin could re-appear one day. This coin was sold in 2003 for $195500 at a Heritage Auction - then sold again in 2008 for $322000 at a Stacks Auction and then sold in 2010 for $359375 at another Heritage Auction. Some numismatists say this is a highly undervalued coin considering the historical significance and this being the only one of his coins that Augustus Saint Gaudens probably ever saw - perhaps even more significant than the Ultra High Relief Double Eagles.
Coin valuation chart: Typical coin prices, values and worth per grade or condition - in USD
Very Good
Very Fine
Extremely Fine
About Uncirculated

MELT VALUE: $612.98

0 items found