1910 Indian Head Quarter Eagle (1910 Indian Head $2.50) NGC PF66. Second and final year of the Roman Finish quarter eagles, this Indian quarter eagle is a prime example of this scarce and curious issue. Mintage reports indicate that 682 Proofs were produced for collectors in 1910, but the issue is only slightly more available in all grades than the 1909 Indian Quarter eagle with the limited mintage of just 136 produced. This indicated that many remained unsold, thus creating a rarity which was not appreciated by collectors at the time for production, but has now turned to be a very popular issue which is seldom offered in higher grades.

By comparing the auction appearances and average survival rates for similar issues it has been estimated that approximately 200 of these Proof quarter eagles were in fact sold to collectors, with the remaining and majority melted soon after their mintage. With an estimated 100 examples known in all grades, including damaged and cleaned examples, a survival rate of approximately 50% would be close to correct. Personally, we think both numbers might be slightly lower, as the population reports will certainly include resubmissions of the same coins and auctions over the last few years also included multiple sales of the same examples.

Because of the above, the conscious collector or investor will note that this is a very rare early 20th century gold issue from the Philadelphia Mint. The design by Bela Lyon Pratt fully comes to it right on these magnificent and important Proof coins. The surfaces are granular, due to the method of producing but this gives an interesting effect when viewed under magnification. All Proof gold coins are rare and seldom offered in any grade, but the Indian quarter eagles are extremely hard to find above gem quality in Proof. NGC has graded 30 examples in Proof-66, with a mere 13 graded higher. We think these numbers are heavily influenced by the previously mentioned resubmissions, and that the true numbers would be considerably lower.

Virtually unblemished, the slightly reflective fields are a true characteristic of this Roman-Gold finish. The strike is sharp and full, as always on these Proof coins, but highlight this particular coin very well. While the reflectivity is not as full as the 1909 quarter eagles with Roman Finish, it is still there and the coin lacks the granular surfaces found on the later matte proofs produced that decade. A nice brown-yellow golden color is noted on both sides, perhaps best described as sun-gold with khaki highlights, as it looks beautiful in hand. A rare coin in exceptional quality, this coin is destined to move fast. This coin has been certified by NGC in a new holder.