Indian Head gold coins: specifications, value and where to buy
"Indian Head gold" usually means three US coins: the $10 eagle (1907 to 1933) by Augustus Saint-Gaudens, and the $5 half eagle and $2.50 quarter eagle (1908 to 1929) by Bela Lyon Pratt. All are 90% gold. The $10 holds 0.48375 oz of gold, the $5 about 0.2419 oz and the $2.50 0.12094 oz.
These were the last new gold designs the US put into circulation. The redesign of US gold coinage in 1907 and 1908 produced two quite different Indian Head designs: a Liberty in a feathered headdress on the $10, and a Native American man, shown in recessed relief, on the two smaller coins. Today they sit on the line between bullion and collectable.
What are the specifications of Indian Head gold coins?
| $2.50 quarter eagle | $5 half eagle | $10 eagle | |
|---|---|---|---|
| Years | 1908 to 1915, 1925 to 1929 | 1908 to 1916, 1929 | 1907 to 1933 (irregular after 1916) |
| Designer | Bela Lyon Pratt | Bela Lyon Pratt | Augustus Saint-Gaudens |
| Weight | 4.18 g | 8.359 g | 16.718 g |
| Fineness | 90% gold, 10% copper | 90% gold, 10% copper | 90% gold, 10% copper |
| Fine gold | 0.12094 troy oz | 0.2419 troy oz | 0.48375 troy oz |
| Diameter | 18 mm | 21.6 mm | 26.92 mm |
| Design style | Incuse (recessed) | Incuse (recessed) | Raised relief; starred edge |
| Mints | Philadelphia, Denver | Philadelphia, Denver, San Francisco, New Orleans (1909 only) | Philadelphia, Denver, San Francisco |
Sources: numismatic references listed below. The $5 fine gold figure is our calculation (8.359 g × 0.900 ÷ 31.1035); references round it to 0.242 oz. The $10 edge carries 46 stars on 1907 to 1911 coins and 48 stars from 1912.
The $10 eagle also has a famous motto story. The first 1907 and some 1908 coins left off IN GOD WE TRUST, which caused a public outcry. Congress ordered the motto restored, and Roosevelt signed the bill in May 1908. That gives the $10 two easy-to-spot types: "no motto" and "with motto".
What are Indian Head gold coins worth today?
| Coin | USD | GBP | CAD | AUD |
|---|---|---|---|---|
| $10 eagle | ... | ... | ... | ... |
| $5 half eagle | ... | ... | ... | ... |
| $2.50 quarter eagle | ... | ... | ... | ... |
Spot-based melt values, not dealer prices. Last updated: Loading. Use the coin melt value calculator for a whole collection.
What do dealers charge? Bullion vs numismatic value
An Indian Head coin's price has two parts: the gold, and whatever collectors will pay on top. Worn, cleaned or common coins trade near gold value. Key dates, attractive mint-state coins and rare varieties trade as collectables, sometimes for many times their gold. We ran an automated check of SD Bullion's random-year Indian Head listings on 11 October 2026 at 11:29 to 11:31 UTC, with spot at $4,195.60 (gold-api.com).
| Coin and grade | Gold value | Check/wire price | Premium over gold |
|---|---|---|---|
| $10 eagle, cleaned/jewellery grade | $2,029.62 | $2,084.56 | 2.71% |
| $2.50 quarter eagle, XF | $507.42 | $618.42 | 21.88% |
Single-coin price, lowest tier. Card/PayPal prices were $2,171.42 and $644.19. Other grades we checked ($10 in VF, AU, BU and MS-63; all $5 half eagle grades; $2.50 in cleaned and BU) showed no price because they were out of stock, so we cannot publish them.
The contrast shows how size and collector demand interact. The $10 coin, holding almost half an ounce, traded close to gold value. The tiny $2.50 coin, with an eighth of an ounce, carried a premium of over 20% even in a circulated XF grade, partly for the same reason small modern coins are expensive (each coin has fixed handling costs) and partly because collectors want them. For comparison, a modern 1/10 oz American Gold Eagle was 17.27% over spot at the same dealer that morning. Before paying extra for a date or grade, read bullion vs numismatic coins and PCGS vs NGC grading.
How are Indian Head gold coins taxed?
| Country | When you buy | When you sell at a gain |
|---|---|---|
| United States | State sales tax rules vary | Collectible rate of up to 28% federally if held over a year (IRS Topic 409) |
| United Kingdom | Depends on price VAT free only if sold for 180% of gold value or less (Notice 701/21A) | CGT applies Not sterling |
| Canada | GST/HST applies Below 99.5% purity (CRA 17.1) | Gains generally taxable |
| Australia | GST applies Below 99.5% fineness (GSTR 2003/10) | Generally subject to CGT |
The UK 180% rule matters more here than for most coins. A common $10 Indian easily passes, but a key-date quarter eagle selling for several times its gold value would not count as investment gold. In the US, these coins are not IRA eligible: section 408(m) only exempts listed coins such as the American Eagle and bullion of futures-delivery fineness.
Which dates and varieties matter?
| Coin | Issue | Why it matters |
|---|---|---|
| $10 | 1907 no motto; 1908 with motto | Two main types |
| $10 | 1920-S | Mintage 126,500, mostly melted after 1933 |
| $10 | 1933 | Mintage 312,500; nearly all melted, about 40 known |
| $5 | 1909-O | Only New Orleans issue, struck in that mint's final year |
| $5 | 1929 | Series key: 668,000 struck, few entered circulation |
| $2.50 | 1911-D | Series key date |
The 1920s quarter eagles (1925-D to 1929) were struck at a single mint each year: Denver in 1925, Philadelphia from 1926 to 1929.
How do you spot a fake Indian Head coin?
- Weigh and measure against the specifications: 4.18 g and 18 mm, 8.359 g and 21.6 mm, or 16.718 g and 26.92 mm.
- Check the incuse design on the $2.50 and $5. The highest point of the coin should be the flat field, not the design. Raised details on these denominations mean it is not genuine.
- Count the edge stars on the $10: 46 to 1911, 48 from 1912.
- Be extra careful with key dates. Altered mint marks and fake key dates exist; buy key dates certified by NGC or PCGS.
Our guide to how to tell if gold is real covers home tests.
Where can you buy Indian Head gold coins?
US online dealers sell random-year Indian Head coins by grade, and certified key dates individually. SD Bullion had cleaned $10 eagles and XF $2.50 coins in stock when we checked; APMEX and JM Bullion also sell pre-1933 US gold. Stock in specific grades comes and goes, so compare the price with the melt value above. If you want US gold mainly for its metal, the larger $20 Double Eagle traded closer to gold value, and our best gold coins for beginners covers simpler first purchases. See also gold coins vs gold bars and all gold coin guides.
Check Indian Head gold at SD Bullion
Pros and cons
Pros
- Common $10 coins trade close to gold value
- Historic designs with collector appeal
- Three sizes to choose from
Cons
- Small coins carry high premiums
- Not IRA eligible; sales tax in Canada and Australia; CGT in the UK
- Stock by grade is patchy
- Key dates are faked
Frequently asked questions
How much gold is in an Indian Head gold coin?
It depends on the coin. The $10 Indian Head eagle holds 0.48375 troy ounce of gold, the $5 half eagle about 0.2419 ounce and the $2.50 quarter eagle 0.12094 ounce. All three are 90% gold and 10% copper, so they weigh more than their gold content.
Why are the $2.50 and $5 Indian Head designs sunk into the coin?
Bela Lyon Pratt's designs for the quarter and half eagle are incuse, meaning recessed below the surface rather than raised. The aim was to let coins stack evenly and protect the design from wear.
What is a $10 Indian Head gold coin worth?
A common-date coin is worth roughly its gold value plus a premium. On 11 October 2026 SD Bullion sold a cleaned, random-year $10 Indian for $2,084.56 by wire, when its gold was worth $2,029.62. Better grades and key dates such as the 1920-S and 1933 sell for collector prices far above gold value.
Are Indian Head gold coins IRA eligible?
No. Section 408(m) of the US tax code treats coins as collectibles inside an IRA unless they are specific listed coins, such as American Eagles, or bullion meeting futures-delivery fineness. 90% gold pre-1933 coins meet neither test.
Which Indian Head gold coin is the key date?
For the $2.50 quarter eagle it is the 1911-D. For the $5 half eagle, numismatic references point to the 1929 and the 1909-O. For the $10 eagle, the 1933 (almost all melted) and 1920-S are major rarities. These are collector coins, not bullion.
Sources
We checked these primary and official sources when writing and fact-checking this page.
- Wikipedia: Indian Head gold pieces ($2.50 and $5: years, designer, specifications, key dates)
- Wikipedia: Indian Head eagle ($10: specifications, edge stars, key dates)
- Wikipedia: Half eagle (weight and diameter)
- 26 US Code 408(m): IRA collectibles rule
- IRS Topic 409: Capital gains and losses
- HMRC VAT Notice 701/21A: Investment gold coins
- Canada Revenue Agency: GST/HST Memorandum 17-1
- Australian Taxation Office: GSTR 2003/10
- SD Bullion: $10 Indian Head eagles (prices and stock checked 11 Oct 2026)
- SD Bullion: $2.50 Indian quarter eagles (prices and stock checked 11 Oct 2026)
Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.