Proof Indian Quarter Eagles
1912 $2 1/2 PR65+ NGC. CAC. The 1912 matte proof Indian quarter eagle is scarce in all grades. Coming from a mintage 197 pieces, it is believed that only about 100 examples survive in all grades. This estimate may be generous, as NGC and PCGS combined report only 86 grading events, including possible resubmissions. The 1912 proof features a minutely different surface texture than previous matte proofs, described as "an extremely fine-grained, multifaceted surface, one that reflects light in microscopically different directions," in Allan Schein's The Gold Indians of Bela Lyon Pratt (2016). The 1912 is a well-made issue and is often regarded as one of the more attractive matte proofs in the series.
The present high-end Gem is fully struck and intricately detailed. The wheat-gold surfaces are thickly luminous and sharply detailed. A loupe reveals a few faint lines on the reverse that prevent a Premium Gem grade. Census: 10 in 65 (1 in 65+), 30 finer. CAC: 2 in 65, 6 finer (6/17).
HID02901242017