1908 $2 1/2 PR67 PCGS. CAC....

Description

1908 Indian Quarter Eagle, PR67
Popular First-Year Matte Proof
Tied With One Other for Finest at PCGS

1908 $2 1/2 PR67 PCGS. CAC. The Mint struck 236 proof Indian quarter eagles in 1908, a mintage that exceeded that of every proof issue in the entire Liberty Head series. Anticipation of high sales was likely the warrant for such a large production; it was the first issue of the Indian Head type which historically increased proof sales the first year, and the Mint was beginning to experiment with a sandblast (or matte) finish which was thought to be more artistically appealing. The finish proved quite pleasant on heavier, high relief medals, and its attempted use on proof coins was inevitable.

The public disagreed with the aesthetic appeal, however, and much preferred the old, brilliantly mirrored finish. As a result, many of the 1908 proofs distributed likely ended up being spent or were carelessly handled. Even light wear made these coins virtually impossible to differentiate from business strikes. PCGS and NGC combined report having encapsulated 224 pieces in all grades (11/14), a number that undoubtedly includes many resubmissions. This translates into evidence that a significant portion of the mintage is long lost.

The present Superb Gem is one of just two coins for the grade at PCGS, with none finer (11/14). Soft, glowing surfaces emit uniform olive-gold color, with close examination failing to locate any discernable surface disruptions. The strike is full throughout. Weakness in the eagle's wing feathers is due only to an inadequately engraved die -- this characteristic is shared by all known business strikes of this date. The engraving details were sharpened on the 1909 dies, but the striking sharpness of 1908 pieces can only be accurately measured by studying the headdress feathers and the stars, both of which are bold on this remarkable proof. Housed in an old green label holder, with a green CAC endorsement label.(Registry values: N7079)

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

Weight: 4.18 grams

Metal: 90% Gold, 10% Copper

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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