1905 Quarter Eagle For You To Grade

PCGS graded this 1905 quarter as an MS-63. The coin is clearly under graded, but the question is how much is it under graded? It is a "slam dunk" MS-64, but is it an MS-65? If it is just an MS-64, the increase in value, about $170 on the Gray Sheet, would hardly be enough to merit the expense of the grading fee and the postage both ways. If it made MS-65 or higher, the jump would be over $500 and thus be worthwhile. There are a couple of extremely minor marks in the obverse field that might make the MS-65 grade problematical.

Perhaps the way to make this coin "exciting" would be to see if it could get a gold CAC sticker, but I'm not going there. A any rate it's been my understanding that the gold CAC sticker is going the way of the doe doe bird.

The grading on the $2.50 Liberty coins has historically been very conservative. It is a reflection of the lack of popularity that these coins have with collectors. The main demand for them comes from type collectors who need to fill a hole in the traditional eight and 12 piece gold type sets. Very few collectors even consider attempting a date and mint set. The series runs from 1840 to 1907, and there are many "impossible" rare dates within that stretch and a number of "sleepers" that are deceptively rare with respect to their catalog values.

I've considered a "short set" of these coins from the 1900s, but no one else does that, and I have never gotten around to doing it. It would an extension of the raw set of $2.50 Indians that I completed years ago.

Always tough to nail a grade from photos, but we all know this one is better than 63. I think you have a good shot at 65 on this one unless something shows up when the coin is turned in decent light.