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The first $10 gold piece was struck during 1795 at the Philadelphia Mint and was presented to President Washington by Mint Director Henry William deSaussure. Eagles, or $10 gold pieces, of 1795 through 1797, bore Robert Scot's capped bust to right design on the obverse and an eagle perched on an olive branch holding a wreath aloft in its beak on the reverse.
Pieces minted in the latter half of 1797 employed the large heraldic eagle reverse. This design was minted through 1804. Since $10 gold pieces did not circulate well, coinage was suspended during 1804. As the price of gold escalated, the bullion value of the $10 gold piece was more than its face value. Subsequently, many coins went into the hands of bullion dealers and speculators who exported or melted them. In 1838 the production of the Eagle resumed.
Gobrecht's Liberty head or coronet design was employed. This was used through 1907. In 1866, the motto IN GOD WE TRUST was added to the reverse. In 1907, the Liberty Head Eagle was replaced by the Augustus Saint-Gauden's beautiful Indian Head design. The liberty head style is very scarce in MS65 quality and has proven to be elusive.
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