Proof Indian Head Quarter Eagles were produced for collectors only during the first part of the series from 1908 to 1915. During this time, proof coins were minted using three distinctive finishes, although usually only classified as two.
In 1908, the proof coins were the so-called sandblasted or matte proofs. The surfaces do not show much reflectivity, but do show granularity from the process of sandblasting. The proof coins minted in 1909 and 1910 feature a so-called Roman Finish, having reflective surfaces, although not as much as a true reflective Proof. The surfaces are light, and the pieces are generally considered to be very well produced. Proofs produced from 1911 to 1915 were again of the Matte Proof finish, but feature less granularity than the 1908 issue.
Regardless of finish, Proof Quarter Eagles are extremely rare with extremely limited mintages and even lower survival rates. These coins remain an intriguing challenge for Indian Quarter Eagle collectors.
One unique rarity emerges amongst these scarce proof coins in the 1910 Matte Proof Indian Quarter Eagle. This year, 682 proof Gold Quarter Eagles were produced, all with the Roman Finish described above. However, a single matte proof finish coin was produced and resides within a complete set of 1910 matte proof gold coins.
The Mint did not change back to matte proofs until 1911, and these coins appear to have been made as test pieces before they went into production during the next year. Each coin in the set is believed to be unique, although there are people that claim there are more matte proofs around. Despite the rumors, only a single matte proof 1910 Gold Quarter Eagle has been graded to date.