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The Certified $2.5 Gold Indian 1928 MS63 PCGS CAC is a beautifully preserved and historically significant example of one of America’s most distinctive and admired gold coin designs. This quarter eagle, struck during the final year of regular production for the Indian Head series, represents the culmination of an era in U.S. gold coinage. Graded Mint State 63 by PCGS and further endorsed with a CAC (Certified Acceptance Corporation) sticker, this coin combines technical quality, eye appeal, and exceptional originality. With its unique incuse design and strong collector demand, the 1928 Indian Head Quarter Eagle in MS63 condition occupies a prominent place in numismatic collections.
The Indian Head quarter eagle series was introduced in 1908 as part of President Theodore Roosevelt’s artistic renaissance of American coinage. Dissatisfied with the staid and outdated designs then in circulation, Roosevelt commissioned sculptor Bela Lyon Pratt to redesign the $2.5 and $5 gold denominations. What emerged was a radical departure from traditional coinage norms: a portrait of a Native American chief in full headdress on the obverse, and an American eagle on the reverse—both rendered in incuse relief, meaning the designs were sunken into the surface rather than raised. This innovative technique made the Indian Head quarter eagle the first U.S. circulating coin to feature such a style.
The obverse of the 1928 quarter eagle features a bold and stoic Native American profile facing left. The headdress is detailed and elegant, adorned with feathers and a band inscribed with the word “LIBERTY.” Thirteen stars arc around the top of the coin, representing the original colonies, and the date “1928” is placed below the bust. In MS63 condition, this coin shows strong strike quality and well-preserved incuse elements, with minimal abrasions or chatter in the fields. The flat surfaces that surround the incuse designs tend to highlight even minor imperfections, making the MS63 grade particularly impressive for this series.
The reverse displays a proud standing eagle perched atop a bundle of arrows with an olive branch intertwined, symbolizing America’s readiness for both peace and defense. The inscriptions “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” curve above, while the denomination “2 1/2 DOLLARS” is placed along the bottom. The motto “IN GOD WE TRUST” appears to the left of the eagle. The incuse style on the reverse gives the eagle a powerful, almost chiseled appearance. On this MS63 example, the details remain sharp, and the fields are notably clean for the grade, with subtle original mint luster intact.
The 1928 Indian Head quarter eagle was struck at the Philadelphia Mint, which was the only U.S. Mint facility to produce this denomination that year. With a total mintage of 416,000 pieces, the 1928 issue is among the more common dates in the series, but it is also the final year of the type’s production, giving it added significance to type collectors. Many of these coins entered circulation or were melted in later decades, particularly during the gold recall of the 1930s. Consequently, examples that have survived in Mint State condition, especially with strong eye appeal, are highly sought after today.
MS63 is considered the starting point of the “choice” Mint State category, with coins in this grade exhibiting good strikes, strong mint luster, and moderate but acceptable contact marks that do not detract significantly from the overall eye appeal. For the 1928 Indian Head, an MS63 coin provides an excellent balance of visual quality and affordability, often representing a sweet spot for collectors looking for top-tier examples without the premium of MS65 or higher coins. This piece, graded by PCGS and confirmed by CAC, reflects a coin that meets or exceeds strict quality standards for the grade.
The PCGS certification guarantees authenticity, precise grading, and encapsulation in a secure, tamper-evident holder. PCGS is widely regarded as one of the most respected grading services in the numismatic industry. The CAC sticker further enhances the coin’s desirability by verifying that it is solid or high-end for the assigned grade. Collectors and investors often give preference to CAC-approved coins, recognizing them as possessing superior eye appeal and originality compared to typical examples of the same grade.
The condition of this 1928 Indian Head quarter eagle is exceptional. The MS63 grade indicates only minor marks, often limited to the open flat surfaces, which are characteristic of the series. The coin likely retains much of its original mint luster, with attractive yellow-gold coloration typical of early 20th-century U.S. gold issues. The incuse design style tends to wear differently than traditional relief, but in Mint State condition, the devices remain sharp and well-defined. This coin's preservation allows for the full appreciation of Pratt’s artistic vision and the uniqueness of the sunken design elements.
The 1928 Indian Head quarter eagle has long been a favorite among collectors for its unusual design and historical context. It is the only denomination of U.S. coinage ever issued in a completely incuse format, alongside its $5 half eagle counterpart. Pratt’s bold artistic choices were not universally appreciated at the time of issue, but modern numismatics now recognizes the design as one of the most innovative in U.S. history. The incuse relief not only created a distinctive visual experience but also required precision in striking and careful planchet preparation, particularly at the Philadelphia Mint, which achieved consistent results in 1928.
As the final year of issue, the 1928 Indian Head quarter eagle has added historical weight. It marks the end of a short but artistically significant series, one that bridged the gap between the neoclassical coinage of the 19th century and the bold modernist designs of the 20th. With the Gold Reserve Act of 1934 ending public ownership of gold coins, these quarter eagles were among the last circulating U.S. gold coins legally held by collectors and institutions. Their survival and preservation in high grades such as MS63 contribute to their enduring legacy and value.
The Certified $2.5 Gold Indian 1928 MS63 PCGS CAC is an outstanding representative of a classic American gold coin. It offers historical depth, technical innovation, and collector-grade preservation, all in a coin endorsed by two of the most respected names in numismatics. Whether for investment, a type set, or appreciation of American coin design, this quarter eagle provides a rare opportunity to own a meaningful and beautiful piece of monetary history, preserved in exceptional condition with the added assurance of a CAC seal.