The handsome Indian Head $5 gold pieces of 1908-1929 were the last series of circulating U.S. $5 gold coins. The Indian Heads were part of an early 20th century coin design renaissance envisioned by President Theodore Roosevelt - who commissioned renowned sculptors Augustus Saint-Gaudens and Bela Lyon Pratt to redesign the nation`s gold coinage. Pratt utilized an unprecedented incuse or recessed design for the $5 gold piece.