The 1933 Indian Head Gold Eagle, a $10 coin, was one of the last gold coins struck before major legal changes. Since 1907, this series has included $5 and $2.50 pieces, although only the $10 denomination is popular.
President Franklin D. Roosevelt signed an order banning private gold ownership that year to aid the Great Depression economy. This edict called for melting most gold coins, including 1933 eagles. Only collectible 1933 coins were kept, making them uncommon and expensive today.
In 1933, 312,500 Indian Head Gold Eagles were minted; barely a few hundred remain. Most were destroyed by the government, but a handful survived, perhaps salvaged by collectors unaware of the new laws.
Gold coins created before 1934 became collectible in 1964 when the Treasury Department declared them such.
Another reason these coins are unusual is their design. The front of the coin features Liberty wearing a Native American headdress by Augustus Saint-Gaudens.
These rare coins can sell for over $460,000 at auction, depending on their condition and history, but they still don't compare to America's first gold coin.
The 1933 $10 Indian Head Gold Eagle is rare because Executive Order 6102 destroyed most of them, leaving only 40. Most were melted down into gold bars, although a handful were stored in museums or privately by collectors and became collectible years later.
These coins are prized for their rarity and historical significance. Unique 1933 Gold Eagle coins sold for $2.185 million at auction in 2011. The 1907 Indian Periods Rolled Edge – Satin $10 PF has a rolled edge and satin finish and grades MS-63 to MS-65.
High-grade $10 Gold Eagles like MS-67 have sold for $460,000 to $822,500 from 2005 to 2015. Lower-grade samples (MS-63) fetch for $340,000–$400,000. Collectors like coins in good condition, even little deterioration can lower their value.
This does not applicable to all coin collectibles. Some "die error" or "doubled die" coins can make you rich. The 1933 $10 Gold Eagle coin was the only one from that year that could be privately owned without legal issues, distinguishing it from the double eagle gold coin.