The 1909 is very similar in overall rarity to the 1910, but it is slightly more available in higher grades. It is considerably rarer than the 1908 in high grades, and many times rarer than the 1926-1928 Philadelphia issues in Mint State-65.

The obverse is sharply struck although not quite as much as on the 1908 Quarter Eagles. There is sometimes weakness on the center of the obverse and on the tips of the feathers to the right of the date. The reverse die problems that existed in 1908 were solved in 1909 Indian Head Quarter Eagle and the wing feathers are generally well struck and show definition.

1909 Quarter Eagles: Rarity, Surface Marks, and Luster Characteristics

Most 1909 Quarter Eagles display noticeable marks on the surfaces. It is not uncommon for examples to have mint-made spots. These are not considered detracting unless they are extensive or situated in obvious locations. For some reason, many 1909 Quarter Eagles show scratches in the fields. When buying a high grade example, make certain that it does not have detracting scratches.

The luster is among the best seen on the early dates of this series. Some pieces are very frosty while others have luster that is a blend of reflectiveness and satiny texture and resembles that seen on Proofs of this year.

The natural coloration for 1909 Quarter Eagles is light to medium yellow-gold. Some show green-gold or light rose toning. It is becoming quite hard to find a 1909 Quarter Eagle that has original color and such pieces are beginning to sell for premiums to knowledgeable collectors.