236 Proofs were struck; as many as half of these exist as a number were saved as first-year souvenirs of the new design and the new matte finish.

Matte Proof gold coinage is a funny area of the market. The coins are very beautiful and unquestionably rare but because so many have been processed or “messsed with” at one time, many dealers and collectors have avoided it in the last decade. With the advent of CAC, this has changed and now collectors are more confident with their purchases. We now have a strongly two-tiered market in Matte Proof gold: nice CAC coins and “all others.”

This piece shows the typical medium green-gold color which is present on natural matte proofs of this date. There is a small shiny spot below the chin of the Indian on the obverse which limits the grade but this is a very handsome piece which graphically illustrate the power of this design and this minting technique.

The last PCGS/CAC PR65 1908 quarter eagle to sell at auction was Heritage 10/12: 5767 which brought $25,850. Prices for this date in Proof jump around $10,000 when you get to the PR66 level and it is doubtful whether most collectors will see a considerable amount of difference between a nice PR65 such as the present example and one in a PR66 holder.

If you have always thought of owning a Matte Proof Indian Head quarter eagle, perhaps this is the right coin for you!

CAC has approved just four in this grade with two finer.