For his "pet crime" to beautify American coinage, President Theodore Roosevelt commissioned Augustus Saint-Gaudens to help with his plans. The sculptor started with the two largest gold denominations. For the ten-dollar eagle, Saint-Gaudens elected to use the head of a woman wearing an Indian war bonnet taken from one of his original concepts for the double eagle. The design was first struck in August 1907 with a thin razor-like rim along the edge of the coin. In addition to the diagnostic wire rim, swirling raised die polish lines are clearly visible in the obverse and reverse fields, a feature that is particular to this issue.

Roger Burdette in his magisterial book on this coinage era, has ascertained that, according to Mint records, 542 examples were struck as opposed to the 500 coins often quoted in numismatic references. An initial production run of 500 coins certainly did take place in late August to early September 1907, but it was followed by a subsequent delivery of 42 coins struck between September and December of that year. Seventy of these coins were later melted down during the First World War, leaving a net mintage of 472 pieces. The coins proved to be in high demand from the outset and were distributed to dignitaries or sold to contemporary collectors. Like their larger High Relief double eagle cousins, the high relief of the design and the wire rim (or "fin" in Mint jargon) were seen as impediments to stacking, and led to some problems with the coining equipment. Changes were made to eliminate the wire rim, resulting in the exceptionally rare Rolled Rim variant of the 1907 Indian eagle, which itself yielded to the final low relief version as modified by Chief Engraver Charles Barber that also had the periods removed from the reverse.

The Wire Rim eagles stand as the closest expression of Saint-Gaudens' original vision for this design and have long been popular with numismatists as well as art collectors. Q. David Bowers notes that there was a fairly high survival rate with some 400 or so examples known in all grades, including a couple of dozen in worn condition or impaired from mishandling.

The example to the left was sold by Stack's Bowers Galleries in the Spring 2022 Showcase Auction, where it realized $840,000.