1915 Indian Head Quarter Eagle, NGC PF67. With a mintage of just 100 coins, the 1915 Proof Indian Quarter Eagles is one of the most important of all 20th century gold coinage. Rare in all grades, as can be expected with such a low mintage, only an estimated 35 to 40 pieces survive in all grades at most. With more people collecting these enigmatic gold coins, opportunities to buy premium examples such as the one we presently offer are hard to come by, and every such opportunity should be considered with great care.

The low mintage and subsequent discontinuation of Proof gold coinage the next year did not come suddenly. Earlier that decade, the Mint had abandoned the reflective finish all Proof gold coins had been given since they were first sold to collectors in the late 1850s. It was first replaced by a matte proof, similar to the finish of this 1915 quarter eagle, but slightly more reflective. In 1909 and 1910, the Mint produced Indian Quarter eagles which were between fully reflective and matte, called Roman-Finish. While this finish was popular with jewelry, it proved to be extremely unpopular on these precious gold coins, and in 1912 the Mint changed to a matte Proof finish creating by sandblasting the pieces after striking. This created granular services on both sides of the coin, but these pieces were unpopular as well and mintages further declined.

Various remarks have been published on this issue in modern references. Breen, in his Encyclopedia, noted that many pieces remained unsold and were later melted. Garrett & Guth, in their U.S. Gold Coin Encyclopedia, gave some more detailed comments:

the 1915 quarter eagle Proof has always commanded attention, with a tiny mintage of just 100 pieces. Also being the final year of issue, precious few of these coins remain in gem grades to satisfy collector demand.

While the major grading services have graded a large number of this issue, in fact if correct higher than the reported mintage, it is obvious that these included multiple resubmissions of the same coin. This is common practice, especially when certain coins become rare in higher grades, but does not help to determine the true rarity of these issues. In this case, it would be better to look at the number of offerings of this issue. That number, as can be expected is extremely low, and the previously mentioned number of 35 to 40 pieces could very well be in the ballpark.

Whatever the true mintage was of this issue, this is a magnificent and rare coin. Certified by NGC in Proof-67 condition, we do not see any reason to disagree with that number. The surfaces are virtually flawless, and the eye-appeal is excellent. The granular surfaces, a characteristic of these rare Proofs are obvious, and highlight the extremely sharp strike. Another characteristic of these Proof gold coins is the khaki-gold color, which confirms the originality of this particular Proof. Rare in all grades, this is an important offering which is not rivaled easily. This coin has been certified by NGC in a new holder.