1907 INDIAN $10, ROLLED EDGE MS67
ROLLED EDGE. JUST 42 STRUCK. TIED FOR HIGHEST GRADED AT NGC
1907 INDIAN - TYPE 2 $10
The Rolled Edge was the first regular production eagle of the new Saint-Gaudens design. The mintage was quite high, however, all but 42 coins were melted. Nearly all survivors are Gem or nearly so. A few circulated or polished coins are known. In the 1980s a few Rolled Edge eagles appeared on the market. In recent years prices have soared and many have appeared for sale usually above $200,000. The finest seen for the issue are at the MS 67 level. Several years ago NGC certified an example as Specimen 67. The coin was clearly different and probably struck from a medal press. Interestingly, another Specimen example surfaced a few years ago in the estate of Mint Director Leach. The coins were nearly identical and the Leach example sold for over $2 million at auction.
Examples of this type are the first Indian Eagles that the United States Mint produced in sizeable numbers for circulation. This type was borne out of Chief Engraver Charles E. Barber's objection to the use of outside artists for the creation of new coinage designs. (In the specific case of the Indian Eagle, the outside artist is noted American sculptor Augustus Saint-Gaudens). After tinkering with the Rolled Edge design of 1907, Barber created the type that is known as either the No Motto or No Periods Indian Eagle. The new design differed from its predecessors in several ways, most notably by the absence of traingular periods around the Latin motto E PLURIBUS UNUM on the reverse, a different style olive branch and stronger feather tips in the eagle's wings. Additionally, No Motto examples tend to be more softly defined over Liberty's haircurls than coins of the Wire Edge and Rolled Edge varieties. Still absent in the new design is the motto IN GOD WE TRUST, an ommission that reflects President Theodore Roosevelt's belief that the use of a diety's name on coinage is blasphemous. Congress mandated that the motto be returned to the Eagle, however, and it duly took up its place in the left reverse field beginning partway through 1908. The No Motto type, therefore, lasted for just two years, and the inclusion of an example is an important prerequisite for the completion of a type set of United States gold.