1929 Indian Head $2.50 Quarter Eagle
1929 marked the last year of Indian Head quarter eagle production. This was not initially due to the fact that the United States was taken off the gold standard in 1933 but, rather, the Great Depression, which stymied the economy and suppressed any need for higher-denomination coins. In fact, most U.S. denominations were furloughed during the early 1930s. As it worked out, 1929 would become the last year for the quarter eagle as the gold standard was abolished before there was a chance – or need, rather – to resuscitate the coin.
532,000 Indian Head quarter eagles were made in 1929, and they are each worth roughly $406 in a grade of Very Fine 20. No proof issues were struck in 1929, nor have they been made in any year after 1915 in the case of this series, so the only specimen numismatists need to concern themselves with are business strikes.
Indian Head quarter eagles are generally considered scarce, as they were not saved in great numbers when they were in production. This is largely due to the fact that the public feared germs would harbor within the incused design elements. Numismatists, on the other hand, were not a big fan of the design, which some thought were uninspired. Today, however, most coin collectors love the Indian Head quarter eagle and will gladly pay premiums for the 1929 $2.50 gold coin and all others in the series.