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With a mintage of 588,000, the 1915 is among the more available Indian Head half eagles in circulated and lower Mint State grades. The series, however, is defined by its incuse design, which exposes the recessed fields to handling and offers the devices no protective rim, and the result is a steep attrition curve between Choice and Gem. At MS65 the 1915 remains obtainable relative to the key dates, yet demand consistently outruns supply, because the ceiling on this issue sits almost immediately above the Gem level: PCGS and NGC have each certified just a single coin finer.
The present Gem is sharply struck and exceptionally well preserved. Rich brass-gold and light orange hues wash across frosty, blooming surfaces, and the recessed fields are remarkably clean for a design that so readily records contact. It is a coin that gives the Gem grade its full meaning and represents, for all practical purposes, the top of the market for the date.
PCGS Population: 81 in 65 (11 in 65+), 1 finer; 10,579 graded in all conditions.
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