Lot 4610
1914 $2.50 Indian. PCGS graded MS-65. Lovely natural golden toning. Well struck and beautiful. Even in average Mint State, the 1914 is typically offered with a sharp strike. The present spectacular Gem MS65 example does not disappoint in this regard either, with all devices crisply delineated from an obviously powerful die-struck impression. The color is mostly orange-gold in shade, warm and sunny, but we do note a somewhat reddish-tint at certain angles. This probably arises from the 10% copper alloy in the standard gold composition of America's quarter eagles (90% gold + 10% copper for hardening and wearability). Free of individual distractions, and housed in a protective PCGS holder. The 1914 ranks second in rarity among the 15 Indian Quarter Eagle deliveries both an absolute sense and is almost impossible to come by in this grade level. It is an important issue that collectors know as a real stumbling block to completing a Gem-quality set. Pop 43; 2 in 66; 1 in 67 (PCGS # 7946) .
Historic reference: With the approach of America's entry into the global First World War, the U.S. government closed the stock markets for about six months beginning in the summer of 1914. It has been said the main economic reason behind this decision was to block the access of Europeans to America's gold before the newly authorized Federal Reserve central bank had finished opening all 12 district offices and funded them with gold reserves. Within months of the reopening of the stock exchanges in December 1914, the Europeans, instead of wanting to redeem their deposits in U.S. gold, began flooding the country with gold themselves for purchases of wartime supplies and equipment. On the back of this European bloodbath, America's third central bank in a century got off to a gold-solid foundation.
Estimated Value $25,000 - 28,000.
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| Realized $28,750 |
