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The Certified $2.5 Gold Indian 1929 MS62 PCGS is a highly sought-after and historically significant coin, representing both the final year of the Indian Head Quarter Eagle series and the last regular-issue U.S. gold coin struck for circulation before the cessation of gold coinage in 1933. Graded Mint State 62 by PCGS (Professional Coin Grading Service), this example is fully uncirculated, showcasing the distinct incuse design that sets the Indian Head Quarter Eagles apart from all other U.S. coins. The 1929 issue, struck at the Philadelphia Mint, is a prized rarity in the series and is one of the most desirable 20th-century U.S. gold coins in Mint State.
The obverse features the bold, incuse portrait of a Native American chief facing left, wearing a feathered war bonnet. Designed by Bela Lyon Pratt, the portrait is surrounded by thirteen six-pointed stars representing the original colonies, with the word “LIBERTY” inscribed above and the date “1929” placed below. As an incuse design, the devices are sunken into the surface rather than raised, creating a sculptural, medal-like effect. In MS62 condition, this example shows no circulation wear and retains clear definition in the headdress and facial features, though moderate contact marks or abrasions may be present in the fields or on the high points of the design, as is typical for the grade.
The reverse depicts a perched eagle standing on a bundle of arrows wrapped with an olive branch, symbolizing the dual strength and peaceful intentions of the United States. The inscriptions “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “IN GOD WE TRUST” surround the eagle, with the denomination “2 1/2 DOLLARS” positioned below. Like the obverse, the reverse design is also incuse, which makes it more resistant to wear but also more prone to visible contact marks in the flat fields. In this MS62-certified example, the eagle’s feathers, talons, and the branch exhibit good detail, while light chatter in the open areas may be present but does not detract significantly from the overall appeal.
Struck in 90% gold and 10% copper, the coin weighs 4.18 grams and has a diameter of 18 millimeters, with a net gold content of 0.12094 troy ounces. The 1929 issue was produced solely at the Philadelphia Mint, and while the official mintage was 532,000 pieces, the vast majority were never released into circulation due to the economic turmoil following the 1929 stock market crash and the subsequent banking crisis. When President Franklin D. Roosevelt’s administration recalled gold in 1933, most of the 1929 Quarter Eagles still held by banks or the Treasury were melted down, making surviving specimens—especially in Mint State—exceptionally rare.
Despite the relatively high mintage figure, it is believed that only a few thousand examples of the 1929 $2.5 Gold Indian survived the massive government melts of the early 1930s. As a result, this coin has become a key date in the series, with certified Mint State pieces commanding significant interest among numismatists. MS62 represents a high-end example for most collectors, offering fully uncirculated detail with moderate surface marks but strong overall presentation. PCGS population data confirms that while MS62 examples are more available than the highest Mint State grades, they remain limited in number and consistently in demand.
The MS62 grade from PCGS guarantees a coin that is fully uncirculated, showing no signs of wear on the design elements, but with a moderate number of contact marks, usually in the open fields or on Liberty’s cheek and the eagle’s body. Coins in this grade retain good eye appeal, especially when luster is strong and the marks are evenly distributed or unobtrusive. Many collectors consider MS62 an ideal entry point for owning a high-grade 1929 example without the significantly higher cost of MS63 or MS64 coins, which can be quite expensive due to the rarity of top-tier specimens.
Visually, the 1929 Indian Head Quarter Eagle in MS62 often displays a pleasing yellow-gold color, sometimes with soft orange or rose undertones from the copper alloy. The incuse format imparts a matte-like finish that absorbs light rather than reflecting it, giving the coin a rich, sculptural appearance. The design remains deeply meaningful and symbolically powerful, with the Native American portrait and dignified eagle forming one of the most original and artistic coin designs in American numismatic history.
Historically, the 1929 issue is not just the final date of the series, but also a turning point in American monetary policy. It was struck during the same year as the Wall Street crash that ushered in the Great Depression. The economic collapse led to widespread bank failures, a lack of public confidence in paper currency, and ultimately the end of circulating gold coinage in the United States. By 1933, gold was removed from circulation, and private ownership was restricted. Thus, the 1929 Quarter Eagle became not only the last of its kind but also a survivor from the end of a monetary era that defined American finance for over a century.
Today, the Certified $2.5 Gold Indian 1929 MS62 PCGS is an essential coin for advanced collectors of U.S. gold, fans of 20th-century numismatics, and investors seeking rarity, artistry, and intrinsic value in a single piece. It is a cornerstone for those assembling complete Indian Head Quarter Eagle sets and a standout issue in any pre-1933 gold type collection. With its striking incuse design, historically pivotal date, and limited surviving population, the 1929 MS62 PCGS coin remains one of the most prized and enduring treasures in American numismatics.