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Teddy Roosevelt took a keen interest in the design of currency issued during his term in office. Therefore, when his good friend Dr. William S. Bigelow proposed his protégé, sculptor Bela Lyon Pratt, to design a new issue of $2.50 and $5.00 gold pieces, Roosevelt readily agreed.
Unique Incuse Design - The new designs broke completely with past tradition of raised relief coins. Pratt, his friend, recommended the new gold coins be "incuse" with designs recessed into the metal rather than raised.
Indian Chief and Bald Eagle Designs - The new obverse on the $5 gold coin featured an Indian Chief in a full-feathered headdress with the word "Liberty" and 13 stars around him and the date underneath. On the reverse, Pratt designed a beautiful, Bald standing Eagle with the denomination and the standard legends of American currency.
Limited Mintages - The incuse $5 Indians were minted intermittently for only 10 years between 1908 to 1929. In 1916 minting was halted and nearly all gold pieces were withheld from circulation. The $5 Indians were then minted for only one final year in 1929. Gold coins were recalled in 1933 to the US Treasury where most Indian coinage was destroyed in the Great Gold Meltdowns.
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