Lot 2796
1913 $2.50 Indian. NGC graded Proof 67. A near perfect Matte or Sandblast Proof. 165 struck. An immaculate, shimmering gem and one of the finest Proof 1913 quarter eagles in existence! The Matte Proof and Sandblast finish Proofs of this series can be quite difficult to grade. The incused design coupled with the finely granular finishes can make telling the difference between a Proof 65 and Proof 66 challenge even an expert. Luckily, the absolutely stunning circumstance of this specimen is so rare that bidders who have previously viewed Proof issues will immediately be able to tell that this is one of the finest Proof examples of all the Indian Head Quarter Eagles. The coin is free of marks. Nothing untoward is observable with the naked eye. With close inspection at 6X, one will find the same thing, virtual perfection! For the date, only 165 were struck and most gold researchers and dealers agree that a sizable proportion of that mintage was most likely melted at year end due to inadequate demand from collectors. Pop 10; 4 finer in 68 (PCGS # 7962) .
In 1908, the Philadelphia Mint introduced the sandblast finish on gold Proofs. After criticism from the numismatic community, the Mint altered its procedure, dropped the sandblast style and struck the satin finish. This, too, proved to be confusing to collectors, so the first technique was revived for 1911-15. In Mint correspondence of the period, Charles E. Barber called the satin finish "bright", while other officials in their correspondence referred to the sandblast pieces as "dull" Proofs. Assistant Secretary Piatt Andrew wrote this to Treasury Secretary Woodin on September 22, 1909, "It appears that the ordinary Proof coins are given this dull finish by means of a sandblast." All sandblast Proofs of either type (1908, 1911-15 or the "satin" 1909-10) have a razor-sharp devices as a distinctive point.
Estimated Value $28,000 - 30,000.
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