1912 Indian Head Quarter Eagle : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

In 1912, the Philadelphia Mint struck 616,000 business strike Indian Head Quarter Eagles and 197 Proofs. Thanks to the sunken or “Egyptian” relief, sculptor Bela Lyon Pratt’s $2.50 Quarter Eagle and $5 Half Eagle gold designs are magnets for contact marks and hairlines. On a bas-relief coin, the raised design elements usually protect the fields, and the busier the design, the less obvious incidental hits are when viewed with the naked eye. On these incuse coins, however, visible marks usually preclude most circulated coins from earning Gem grades.

Uncirculated 1912 Indian Head Quarter Eagles tend to exhibit granular surfaces and lack strong luster. On some examples, die bucking around borders is evident. The coloration of the gold varies from yellow to orange or even green. When numismatist David W. Akers published United States Gold Coins: An Analysis of Auction Records (Volume II: Quarter Eagles 1796-1929) in 1975, he ranked the 1912 Indian Head Quarter Eagle as fourth out of 15 in terms of Gem, saying that coins in MS67 were practically unobtainable. Nearly 50 years later, Akers’ observations retain their authority as the issue continues to rank fourth out of 15 and no leading grading service has given out that Superb Gem grade.

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Market Data and Noteworthy Specimens

Top Population: PCGS MS66+ (1, 9/2024). NGC MS66 (5, 9/2024). CAC MS66 (2:0 stickered:graded, 8/2024).

• PCGS MS66+ #40276218: “The Bob R. Simpson Collection, Part IV” Heritage Auctions, February 23, 2021, Lot 3094 – $32,400. On the obverse, there is a diagonal cut in the eagle’s headdress to the upper right of center. Deep mark in the feathers above star 13. Orange copper spot at the top of the eagle’s head. Thin scratches around IN GOD WE TRUST.
• PCGS MS66 #04907520: Heritage Auctions, October 14, 2011, Lot 4795 – $37,375. Small tick on cheek.
• PCGS MS66 #26418562: As PCGS MS66 #21893046. “The Atherton Family Collection, Part Two,” Heritage Auctions, March 26, 2010, Lot 2178 – $27,600. Since this sale, the coin has been reholdered. Two planchet voids in the obverse field to the right of stars 4 and 5. Three long scratches along RTY to star 7. On the reverse, dark stain below NIT. Hit above first U of PLURIBUS.
• PCGS MS66 CAC #4338866: Heritage Auctions, July 31, 2009, Lot 1234 – $37,375. Small diagonal hit between stars 6 and L. Mark between stars 9 and 10. Mark below U of UNITED.
• PCGS MS66 #48284848: Imaged on PCGS CoinFacts. Deep tick on eyebrow. Diagonal hits below nose and mouth. Abrasions at stars 10 and 11. Diagonal streak from eagle’s wing to M of AMERICA.

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1912 Indian Head Quarter Eagle Coin Specifications

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