What Are Incuse Coins?

 

What Are Incuse Coins?

During the coin production process, a disk of metal known as a blank is struck with its designs using a die. Most dies feature designs that are receded behind a flat surface, resulting in designs that are raised above the field, which is the blank area surrounding a coin’s designs. Although these raised designs are used on most U.S. Mint coins, some coins and rounds are made using a slightly different process. 

On incuse coins, the design placed on a die is actually raised above the field. When this alternative die strikes a coin, it results in a set of designs that recede below the field. Several notable U.S. coins feature incuse designs, including the Gold Indian Had series minted in the early 20th century. Modern silver refineries and mints also sometimes produce incuse coins, which investors enjoy for their uniqueness and beauty. 

Today’s coin collecting guide is all about incuse coins. On this page, you’ll learn more about incuse coins, how they’re made, and notable examples of incuse coins from throughout coinage history. 

How Are Incuse Coins Made? 

Incuse coins are made in a similar process to the one used to mint regular coins, except for one big difference. When an incuse coin is minted, it’s struck by a die constructed in such a way that the field sits below the design itself. When this unique incuse die strikes a coin, it results in a field that is raised above the designs. 

Incuse coins are visually distinct from traditional coins. On a regular coin, a normal die with a raised field and receded designs, which results in the final coin design appearing raised compared to the field behind it. In a sense, incuse gold and silver coins look backwards compared to coins minted the normal way. 

Background Info: The Parts of a Coin

To really understand the appearance – and appeal – of incuse coins, you’ll need to take a closer look at the parts of a coin. For our purposes, two main parts of the anatomy of a coin matter: 

1. The Field. The field of a coin is the area behind the design. A coin’s field is normally lower than its designs, which are raised. By contrast, the field is the most raised part of an incuse coin. 
2. The Designs. All coins feature designs on both the obverse (front) and reverse (back). Incuse coins feature designs that are receded lower than the field, while traditionally minted coins and rounds include designs that are raised above the field. 

These two parts of a coin help us to spot the difference between raised and incuse designs. Fortunately, the processes for minting silver and gold coins are relatively similar, so you’ll usually be able to pick up on which method was used to produce your coin – regardless of its material. 

Incuse Versus Raised Designs

As a result, the main difference between traditionally raised and incuse coins is the positioning of their designs. To confirm that a design is incuse, identify which part of the coin is the most raised. On a true incuse coin, the field should be raised above most or all parts of the design. Traditional coins, by contrast, are characterized by raised designs and a lower field behind them.

Most of the coins you encounter daily are not incuse. The U.S. Mint rarely produces incuse designs, aside from a series of incuse coins made in earlier U.S. history. In the modern era, circulating United States coins feature raised designs and flat obverses behind those designs. U.S. quarters, pennies, dimes, nickels, half dollars, and dollars are considered raised – not incuse. 

Popular Incuse Coins and Rounds

Coins and privately minted rounds can be manufactured using an incuse minting process, giving them a unique look and feel compared to traditional raised design coins.

Incuse Coins in the United States

The U.S. Mint very rarely uses an incuse die to produce circulation coins. Indian Head gold coins were the only incuse United States coins to enter general circulation, and these coins remain extremely popular among collectors today. 

Incuse Indian Head gold pieces were minted in various denominations from 1908 until 1929. Former Mint Director Frank Leach explained in his memoir that the choice to make the Indian Head gold coins with incuse designs was inspired by several factors. According to Leach, the new incuse coins were easier to stack on top of one another without causing wear on their designs. Additionally, the coin was meant to “introduce a novelty” into American coinage at a time when coin collecting was growing in popularity. 

To date, the Indian Head gold coins are the only incuse U.S. Mint coins. 

Privately Minted Incuse Rounds

Although the U.S. Mint never returned to incuse coinage after the conclusion of the Indian Head gold coin series, private mints today frequently pay homage to this unique design choice with coins of their own. The Incuse Indian Silver Round series produced by Golden State Mint is a replica of the original Indian $2.50 gold piece and remains one of the most popular incuse silver rounds on the market. 

This collection features a variety of weights, making it a great choice for stackers who want to inject a bit of weight variety and liquidity into their precious metal portfolios. Like the original Indian Head gold coins, the Incuse Indian Silver Round features a raised field and designs that recede into those fields. 

Are Incuse Coins and Rounds a Good Investment? 

Just like when the Indian Head gold coin series premiered in the early-1900s, incuse coins are a fascinating novelty today. Investors who want to purchase incuse coins should decide between circulating gold and privately minted silver. Since the U.S. only produced one incuse gold collection and it was gold, your options for incuse silver are primarily limited to the private market. 

The Incuse Indian Silver Round remains a popular investment choice for collectors who want to add a bit of design variety to their portfolios without spending several hundred dollars on a gold coin. If you can afford to splurge on a genuine Indian Head incuse gold coins, they tend to hold value quite well. These coins are popular among investors and have tremendous numismatic/historical value. 

Final Thoughts: Understanding Incuse Coins

Incuse coins look quite a bit different than the typical coins you’ll find in your change or between your couch cushions. To make an incuse coin, mints invert the relief difference between the field and design. The design of a coin is usually raised, but incuse coin designs are receded behind the field, which is the highest part of an incuse coin or round. 

The U.S. Mint only produced incuse coins for a short period during the early-1900s, but modern private mints regularly produce high-quality incuse silver rounds that can add a new flair and novelty to your portfolio. 

You might also be interested in: 

• The Anatomy of a Coin | An Illustrated Guide to the Parts of a Coin
• What Are Mint-Made Error Coins?
• What is a Mule Coin?