1908 $2 1/2 PR67 PCGS. CAC. JD-1, R.4....

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1908 Indian Quarter Eagle, PR67
CAC-Approved Registry Grade Example
First Year of Design

1908 $2 1/2 PR67 PCGS. CAC. JD-1, R.4. Ex: MPG Collection. Artist Bela Lyon Pratt created the Indian Head design for the half eagle and quarter eagle in 1908, using Brule Lakota Chief Hollow Horn Bear as a model. The new design featured incuse devices because it was thought this would reduce wear on the coins. Unfortunately, the fields not being the highest plain of the working dies meant that they could not be polished to produce the traditional mirrored proof finish. In an October 17, 1916 letter from Philadelphia Mint Superintendent Adam Joyce to Mint Director F.J.H. Von Engelken, transcribed in John Dannreuther's United States Proof Coins, Vol. IV: Gold, the Superintendent stated in part:

"The ground of all these designs is uneven, which makes it impossible to produce proof coins which are distinctive from the regular coins made on the coining presses from new dies, the only difference between the proofs and the regular coins being the sharper edge and design. ... In order to distinguish gold proofs from the regular issue, it has been necessary to give them a sandblast finish, which changes the appearance of the coins to such an extent that it is almost impossible to put them in circulation."

Anticipating large collector demand for the new design, the Philadelphia Mint struck a generous mintage of 500 proofs in 1908. Unfortunately, collectors did not appreciate the new sandblast finish, and only 236 examples were sold. The unsold remainders were melted after the close of the year. John Dannreuther estimates no more than 100 to 120 examples survive in all grades today.

The present coin is a spectacular Superb Gem that will be a welcome addition to the finest collection or Registry Set. The design elements are sharply detailed and the luminous matte surfaces are impeccably preserved. Overall eye appeal is terrific and the high quality within the grade is confirmed by CAC. This coin is the plate coin for John Dannreuther's United States Proof Coins, Volume IV: Gold. Population: 10 in 67 (2 in 67+), 0 finer. CAC: 7 in 67, 0 finer (6/24).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 289G, PCGS# 7957, GSID# 8619)

Metal: 90% Gold, 10% Copper
Weight: 4.18 grams
AGW: 0.12095oz
Mintage: 236

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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