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Difficult to Grade Coins – Part One Indian Quarter and Half Eagles

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An Indian Half Eagle in Good-6 condition

 


An Indian Half Eagle in XF-AU condition

Grading U.S. coins consistently and accurately is usually not easy. However, some series lend themselves to a rather quick learning curve and some proficiency can be gained with only a moderate amount of practice and study. Other series have particular issues that make them considerably more difficult to master.

Over the next several months, we’ll be running a series entitled "Difficult to Grade Coins." In it, we’ll take a look at eight series that present special challenges to graders. Some of the issues concern planchet quality, some concern die clashing and strike problems. Others deal with inherent design characteristics, and still others address chronic appearance anomalies that must be considered when grading.

Our first installment will discuss Indian Quarter and Half Eagles, designed by Bela Lyon Pratt and minted from 1908 through 1929. The unique feature of these two coins is their incuse design—meaning that the main devices and legends are sunken below the surface of the coin. There is no raised edge, effectively leaving the fields of the coin as the high point. No other U.S. series displays this characteristic. Since there is no design detail in the fields, this makes these coins extraordinarily difficult to grade.


Note fine scratches in fields, indicating light circulation. This is a choice AU coin.

 


On a mint state coin, the fields should show no trace of circulation.

While these coins are seldom seen in grades below VF or XF, a look at a very low-grade piece reveals that recessed details such as the Indian’s necklace, facial details and upper feathers remain almost unworn. In nearly all other coins in a grade of Good 6, the main device is worn almost completely flat. On the reverse, a look at the lower tail feathers, the feathers on the eagle’s right leg, breast feathers, and bundle of arrows on which the eagle stands show nearly all the original detail.

Even in XF/AU, virtually all the detail remains. Only light rub is seen on the Indian’s cheek, a bit on the headdress, and some on the upper part of the eagle’s left wing. Note the luster in the recessed areas remaining on much of the coin.

To distinguish AU’s from Mint State pieces, look carefully at the fields for small scratches and evidence of circulation. Almost no rub will be seen on the devices.

A mint state piece will show no signs of friction or rubbing in the fields. They will not be perfect, however, as these coins were not proofs and did encounter other coins in the minting process or in bags. Note, however, the condition of the fields compared to the close-up shown previously.

These Indian Quarter and Half Eagles defy all the traditional "rules" of grading. While you’re tempted to look at the high points of the devices for the first trace of wear, remember that it’s the fields of the coin that will first distinguish AU’s from Mint State pieces. In lower AU grades (50 and 53), you will begin to see some light rub on the Indian’s cheek or the upper portion of the Eagle’s left wing.

Yes, grading coins can be difficult. However, certain coins, such as Indian Quarter and Half Eagles, are notoriously difficult to grade. That concludes this entry of Difficult to Grade Coins. Further entries, featuring different coins and tricky coin characteristics, are forthcoming.

Grading Indian Half Eagles (1908-1929) Indian Quarter Eagles (1908-1929)