Week Four

Coin of the Week: Indian Head Gold Coins

In 1901,Theodore Roosevelt became president after the assassination of William McKinley. Roosevelt was very progressive, and he thought that the coin designs currently being produced were, in a word, boring. So he turned to the artists Augustus Saint-Gaudens, Victor David Brenner, George T. Morgan, and Bela Lyon Pratt. These artists would design, in order, the Saint-Gaudens Double Eagle, Lincoln Head Cent, (for George Morgan See Week One) and the Indian Head Gold Coins.

These Coins, designed by Mr. Pratt, are special in a few ways. They were two of the only four 1900’s coins that show an Indian. But what really sets them apart is the way that they are made. These coins were the only U.S. coins that are incused. The best way that I have heard the word incuse described is like a belly button. The ones that stick out are outies, and the ones that poke in are innies. Most coins are outies, with the design sticking out. But these coins are innies. The two denominations that they come in are Quarter Eagle, or $2.50, and Half Eagle, or $5. These coins never circulated much, but the Quarter Eagle became a very popular Christmas present. The Quarter Eagle was about the size of a dime, and the Half Eagle was about the size of a nickel.

Indian Head Quarter Eagle

 

Indian Head Half Eagle

 

Saint-Gaudens Double Eagle

 

Original Lincoln Cent Design by Victor D. Brenner (Wheat Penny)

 

Trial and Error: $1.25 Coin

In May of 2000, a new coin of interest showed up. Production of the Sacagawea Dollar had just begun, when a man in Mountain Home, Arkansas, discovered a Sacagawea dollar coin with the image of George Washington (on the quarter) on the front! A pandamonium followed as 10 more people found examples, and the Mint, realizing the “error” of it’s ways, melted another several thousand. Coins like these show two different values, Quarter Dollar on the front, and One Dollar on the back, making it’s face value $1.25. These coins were showing up as recent as 2011, so there could be more out there…

Washington-Sacagawea Error Coin

(this kind of coin is called a mule, an error coin with two designs from different coins)

 

Making A Mint: The Different Facilities

Since it’s creation, the U.S. Mint has made coins at 8 different places. Each coin made there has a distinct mintmark, telling you where the coin was made. Here they are:

 

Philadelphia, Pennsylvania (No mintmark 1794-1978, P mintmark 1979- present, except on the penny, still with no mintmark) Established 1794.

2011 P Quarter (mintmark under “In God We Trust on front)

 

1895 Morgan Dollar (No mintmark, indicating that it was made in Philadelphia)

 

Denver, Colorado (D mintmark) Established 1906.

1910 D Indian Head Cent (mintmark underneath wreath on back)

 

San Francisco, California (S mintmark) Established 1854.

1913 S Barber Half Dollar (mintmark underneath eagle on back)

 

West Point, New York (W mintmark) Established 1937.

2000 W Sacagawea Dollar (mintmark underneath date on front)

 

All four of these mints are currently active, with P and D mintmarks in circulation, and S and W producing specials, such as commemoratives and bullion, as well as circulating coinage in their earlier years. Other Mint facilities that no longer produce coins are:

Charlotte, North Carolina (C mintmark) Established 1838, halted production in 1861, after seized by Confederates in the Civil War

1853 C Gold Dollar (mintmark underneath wreath on back)

 

 

Dahlonega, Georgia (D mintmark) Established 1838, halted production in 1861, after seized by Confederates in the Civil War. Not to be confused with Denver mintmark, this mint made only gold coins from 1838 to 1861.

1859 D Half Eagle (mintmark underneath eagle)

 

Carson City, Nevada (CC mintmark) Established 1863, but was not put into operation until 1870, halted production in 1893 due to lack of coinage materials and unstable economy.

1878 CC Dime (mintmark underneath wreath on back)

 

New Orleans, Louisiana (O mintmark) Established 1838, halted production in 1909 due to insufficient funds.

1856 O Half Dime (mintmark above knot in the wreath on back)

 

At one point, the U.S. Mint also had a base in Manila, Philippines, and made coins for the Philippines there. It was shut down after the decolonization of the Philippines by the U.S.A.

1903 Philippines One Peso

 

Wonderful World: Maria Theresa Silver Thaler

The Maria Theresa Thaler is truly a coin to be noticed. First minted in 1741 in Austria, it became a popular trade coin, even though it was not used as currency in it’s home country. The coin was used as official currency in the following countries: Somalia, Ethiopia, Kenya, Tanzania, Mozambique, Oman, and several more. In fact, the coin was so popular, that several different countries, including Germany, England, France, The Czech Republic, India, Italy, and Slovakia started making their own Maria Theresa Thalers. This coin is still produced today, but bears the date 1780, as it always has since that year.

Maria Theresa Thaler