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

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Sold on Jul 13, 2021 for:

$42,000.00 Bid Source: HA.com/Live bidder

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1908 Indian Quarter Eagle, PR67
First-Year Matte Proof Type Coin

1908 $2 1/2 PR67 PCGS. JD-1, R.4. The introduction of Bela Lyon Pratt's sunken relief Indian Head design on the quarter eagle and half eagle in 1908 brought with it a problem for proof coinage. 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. The problem was repeated with the designs of the dime, quarter, and half dollar in 1916, which lacked sufficiently flat fields that could be polished for proof dies. 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."

Collectors were greatly dissatisfied with the sandblast proof finish, and orders for gold proofs were limited. Of the 236 proof quarter eagles struck in 1908, only 100 to 120 are extant. This Superb Gem example is sharp and beautifully preserved. Rich orange-gold patina adorns the luminous matte surfaces, complementing the eye appeal. Population: 10 in 67 (1 in 67+), 0 finer (6/21).(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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