1912 Quarter Eagle Grading Fun

This design is tough to grade (at least for me!). The lack of raised rims makes the surfaces vulnerable to impact marks and friction from other coins.

Your coin has excellent detail and the surfaces are nearly mark-free. It looks like there is some slight abrasion on the Indian's cheek and jawline. The first sign of wear usually shows at the top of the eagle's left wing. The tiny feathers there look a bit soft, which could be from wear or from strike weakness.

The final grade often depends on luster, which your photo doesn't really show. If luster is actually strong, this coin might even make low-end mint state. My guess would be a solid AU-55, and possibly up to MS-62 depending on luster.

Your grandfather appears to have had good taste in coins! Was he a long-time collector?

I think he was mostly a casual collector (like me). From what my mother tells me, he kept the gold and silver coins as an emergency source of funds "just in case". He was born in 1899, so he would have been in his 30's during the Great Depression, which must have had quite an influence on his approach to savings. But he definitely kept a few gems in his collection (lucky for me), and I feel I should do the best I can to keep them as "gems" for whoever gets my collection. Which has just started me thinking about finding out a little more from my mother and writing up a backstory to keep with the coins. Hmmm.