1909 $2.50 Indian Head (1909 Indian Head Quarter Eagle), NGC PF66. While these 20th century Proof gold coins, struck in a different finish compared to those from the 19th century were unpopular at their time, collectors and investors are now fully appreciating the rarity and beauty of these gold coins. The first issue struck with a so-called Roman-Finish, one of several experiments done by the Mint during this period, the 1909 Proof quarter had the miniscule mintage of just 136 pieces, and is rare in all grades. This is confirmed by Garret and Guth, in their Encyclopedia of U.S. Gold Coins:

This is far and away the most difficult issue to find in PF-64 or higher grades. For the collector, this is one of the three most difficult Proof issues to obtain in any grade, and perhaps it is the rarest overall

As previously mentioned, the so-called Roman-finish was an experiment conducted by the U.S. Mint in the early 20th century while producing Proof gold coins for collectors. At the time, the so-called Roman finish was a popular finish on gold jewelry, and highly appreciated by the public. By producing the Proof gold coins in this finish, the United States Mint in Philadelphia hoped and expected to raise sales, and thus generate a higher income for the Mint.

The idea of raising sales by a different finish of the gold coins soon proved to be a failure and very limited number of Proof quarter eagles were released this year. Modern research has concluded that only an estimated 55 to 65 pieces are known in all proof grades. Most are in lower numerical grades, and gem and finer pieces are extremely rare. To date, NGC has graded three in PF-66, three in PF-67 and one in PF-68. This would also indicate that collectors also took less care of these pieces than they did with other Proof gold coinage from this era, although there are coins of all issues that exhibit problems of any kind.

More reflective than later issues, this is a wonderful and magnificent coin. The surfaces are mark-free, as can be expected for the grade, and the strike is full and sharp. No individual hairlines are worth mentioning, even under magnification, and the eye-appeal is excellent. Add to that the wonderful darker yellow color, toned to a light apricot-yellow when tilted and this is a wonderful and prime example of this seldom offered issue. This coin has been certified by NGC in a new holder.