Indian Head 2 1/2 Dollar Gold Coin
Gold coins have been a part of American currency since 1795. One of the most popular gold coins in the United States is the Indian Head 2 1/2 dollar gold coin. This coin has a rich history and is a collector's item today. In this article, we will discuss the history of the Indian Head 2 1/2 dollar gold coin and its current valuation.
The History of the Indian Head 2 1/2 Dollar Gold Coin
The Indian Head 2 1/2 dollar gold coin was first minted in 1908 and was designed by Bela Lyon Pratt, an American sculptor. The design features an Indian chief wearing a feather headdress on the obverse side and a bald eagle on the reverse side. The coin was minted until 1929 and was in circulation until 1933.
The Indian Head 2 1/2 dollar gold coin was also known as the Quarter Eagle. It was one of four denominations of gold coins that were issued by the United States Mint. The other denominations were the $1, $2.50, $5, $10, and $20. The Quarter Eagle was the smallest denomination of gold coin that was issued by the United States Mint.
The Indian Head 2 1/2 dollar gold coin was minted in Philadelphia, Denver, and San Francisco. The coins that were minted in San Francisco have a small "S" mintmark on the reverse side, below the eagle.
Valuation of the Indian Head 2 1/2 Dollar Gold Coin
The value of the Indian Head 2 1/2 dollar gold coin depends on several factors, including the condition of the coin, the rarity of the coin, and the current market demand for the coin. The value of the coin also changes with the spot price of gold.
The Indian Head 2 1/2 dollar gold coin has a face value of $2.50, but its market value is much higher than its face value. The value of the coin is determined by its weight in gold, which is 0.12094 troy ounces. As of September 2021, the spot price of gold is around $1,750 per ounce, which means that the melt value of the coin is around $210.
However, the value of the Indian Head 2 1/2 dollar gold coin is much higher than its melt value. The value of the coin depends on its condition and rarity. A coin that is in excellent condition and has a low mintage will be worth more than a coin that is in poor condition and has a high mintage.
For example, a 1911 Indian Head 2 1/2 dollar gold coin that is in excellent condition and has a mintage of only 55,680 coins can be worth over $3,000. On the other hand, a 1928 Indian Head 2 1/2 dollar gold coin that is in poor condition and has a mintage of over 400,000 coins may only be worth around $300.
Conclusion
The Indian Head 2 1/2 dollar gold coin is a popular gold coin in the United States. It has a rich history and is a collector's item today. The value of the coin depends on its condition, rarity, and market demand. If you are interested in collecting gold coins, the Indian Head 2 1/2 dollar gold coin is a great addition to any collection.