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May 11 , 2015

COIN OF THE WEEK

Gem Matte Proof 1908 Indian $2.50 Gold NGC PF67 - $43,000.
Click on Coin Image to enlarge


1908 Indian $2.50 NGC PF67. Gem Matte Proof. This matte proof Indian head 1908 Quarter Eagle has original mustard colored surfaces and nearly complete knife-rims on both sides. The coin is virtually mark-free, as expected for the grade. The strike is, of course, full with every detail of the design readily apparent. The beautiful coin is a close to perfection as you can get for a proof coin of this date.

The matte texture of the coin proved unpopular with the public, who were used to the high contrast proof finishes of the previous design. Today they are coveted by those familiar with the series. It is fundamentally rare in all conditions. In its population report, NGC shows there is 1 higher. At PCGS there are 2 in PF66 with 0 higher, and these numbers do not account for resubmissions or crossovers.

Please contact me by email or telephone 1-800-624-1870 to reserve this great coin.

The new Indian Head quarter eagle was put into production in 1908. Theodore Roosevelt, who had become president as a result of McKinley’s assassination in 1901 and was in his second term of office, believed that it was time to reform all United States coinage, which in his opinion was “atrociously hideous.” He wanted to put into place his “pet crime” to improve coinage designs by bypassing the mediocre Mint Engraver, Charles Barber. Earlier Roosevelt prevailed on the world-renown sculptor, Augustus Saint-Gaudens, to remake the gold eagle and double eagle coins. Now, influenced by Dr. William Sturgis Bigelow, a friend and art connoisseur, Roosevelt agreed to have Bela Lyon Pratt redesign the gold half eagle and quarter eagle. Roosevelt got the idea of making the coins incuse, like certain ancient Egyptian coins. Certainly this new design would make them different from the coinage that preceded.

The incuse design was an innovation never previously used on circulating United States coinage. It was criticized by people in banking and numismatics. They felt that the new coins could be easily counterfeited, wouldn’t stack easily, and were unsanitary because dirt would remain in the incused features. However, as a whole, the public was indifferent to the new coins, and they remained in production and circulation until 1929, when the Great Depression caused economic upheaval.

The series was minted from 1908 to 1915 and then from 1925 to 1929. During these years and until the Great Recall of 1933, the coins circulated in commerce. They were often used as birthday and Christmas gifts. Circulated coins are often seen with rubbed spots on the high points. Since they were also used extensively for jewelry, one should be aware of traces of solder or evidence of its removal. Imperfect reeding might indicate this problem, and doubtful coins should be authenticated. Authentication is also recommended for the key coin, the 1911-D, because a number of counterfeits have been seen. Sometimes a 1911 Philadelphia minted coin will have a D mintmark added. In uncirculated grades, the 1911-D is ten times more costly than the plain issue. (All USRCI coins are guaranteed genuine and authenticated by one of the major grading services.)


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ADDITION NEW COINS ADDED - (Week of 5/11/2015)

1652 Pine Tree Shilling, 3 Pence NGC MS63. PELLETS AT TRUNK

1876 3 Cent Nickel PCGS PR66 DCAM CAC. GEM DEEP CAMEO

1913-D Lincoln Bronze 1C PCGS MS65RD

1877 Indian 1C PCGS PR65RD. GEM RED

1874 Shield 5C PCGS PR67 CAMEO. GEM CAMEO

1937-D Buffalo 5C PCGS MS64. 3-LEGGED BUFFALO. Type 2

1942/1-D Mercury 10C PCGS MS66FB CAC. GEM SATIN WHITE

1892-S Barber 10C PCGS MS66 CAC. GEM ORIGINAL SURFACES

1891-O Liberty Seated 10C PCGS MS67. GEM WHITE

1827 Capped Bust 10C PCGS MS65. LOVELY SPECIMEN

1828 Capped Bust 25C PCGS PR65. GEM PROOF

1874 Liberty Seated 25C PCGS PR66 CAM. ARROWS, MOTTO

1898 Barber 25C PCGS PR68 DCAM. GEM WHITE DEEP CAMEO

1847 Liberty Seated 50C PCGS PR63. CHOICE PROOF

1942 Walking Liberty 50C NGC PR68. GEM WHITE

1794 Flowing Hair Silver $1 PCGS XF40. VERY CHOICE PLANCHET

1855-C Gold $1 PCGS AU53. VERY RARE CHARLOTTE TYPE 2 GOLD

1853-D Gold $1 PCGS MS61. NICE LUSTER

1853-C Gold $1 PCGS MS61. LOVELY CHARLOTTE SPECIMEN

1880 Trade Silver $1 PCGS PR65 CAMEO. GEM WHITE CAMEO

J-280 1861 50C PCGS PR65RB CAC. GOD OUR TRUST

1904 Liberty $5 PCGS PR67 CAM. GEM CAMEO

1903-S Liberty $5 PCGS MS66. GEM SURFACES

1903-S Liberty $5 PCGS MS66. GEM SATIN SURFACES

1903-S Liberty $5 PCGS MS65. SECURE-PLUS

1885-S Liberty $5 PCGS MS65. VERY LUSTEROUS

1871-S Liberty $5 PCGS AU58. JUST 4 MS61 COINS GRADED HIGHER AT PCGS

1871-CC Liberty $5 Gold PCGS AU58

1842-C Liberty $5 Gold PCGS AU53. SMALL DATE. VERY RARE

1907 Liberty $2.50 Gold NGC PR67 CAM. GEM CAMEO

1911 Indian $2.50 Gold NGC PR67. GEM MATTE PROOF


Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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