1912 $2 1/2 PR67+ PCGS. CAC. JD-1, R.4....

Description

1912 Indian Quarter Eagle, PR67+
197 Examples Struck
Tied for Finest at PCGS

1912 $2 1/2 PR67+ PCGS. CAC. JD-1, R.4. An average-sized mintage of 197 proof Indian quarter eagles was accomplished in 1912, with all the coins delivered on March 18. A single die pair was used to strike all the proofs. Due to continuing customer complaints about the matte finish used on proofs of this era, the mint used a finer grain of sand to apply the sandblast finish in 1912, resulting in lighter surfaces, with microscopic facets that reflect the light in different directions. The 1912 is one of the more challenging Indian proofs and John Dannreuther estimates the surviving population at 90-110 examples in all grades.

Gold proof sets of 1912 began appearing at auction at least as early as the Charles Conover Collection (B. Max Mehl, 5/1914), where lot 22 was described as:

"1912 $20, $10, $5, $2.50. Dull sandblasted finish. The $5 with wire edge. Complete set. Four pieces. Very rare."

The lot realized $77.40 ($19.35 per piece), a fairly strong price for coins with $37.50 face value that were struck two years previously. Recent sales of proof 1912 Indian quarter eagles include the PR67 PCGS specimen in lot 5349 of the Central States Signature, that realized $46,000.

This Plus graded Superb Gem exhibits razor-sharp definition on all design elements and a slight wire rim is evident on the reverse from 12 to 4 o'clock. The virtually pristine surfaces show the fine sandblast finish of this issue, with many sparkling facets that become apparent on close inspection with a loupe. The surfaces display a light mustard orange patina, with a few subtle hints of lilac and unbroken matte luster on both sides. Overall eye appeal is terrific. This coin is a Registry Set essential. Population: 12 in 67 (2 in 67+), 0 finer. CAC: 3 in 67, 0 finer (11/19).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 289L, PCGS# 7961, Greysheet# 8623)

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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