Indian Head $2.50 quarter eagles are one of the most, if not the most, popular series among gold coin collectors.

They experienced a strong run up in values during the five-year bull market we've just been through.

There have been a few price fluctuations along the way, but now we're seeing a moderate correction that could poise this series for another hike in their values.

One reason the series is so popular is that only 15 coins are required for the complete series.

Especially in circulated grades, there is only one scarce coin, the 1911-D issue. It will cost about $3,000 to $5,000 depending on the buyer's quality expectations. Often the D Mint mark is weakly struck, so examples with a strong "D" bring a premium price.

The other coins in this series are all priced at just a few hundred dollars in circulated condition.

Prices rise in Mint State. Even some of the common dates are tough to find in the high-grade Uncirculated range.

However, we've seen some softness in prices attained at public auctions for these higher grades, so our valuations have softened some on these.

The largest drop, proportionately, is in the MS-64 examples, which have fallen from $2,300 to just $1,400.

Common-date MS-65 Indian Head quarter eagles have softened in price from $6,000 to $4,000.

We've also found a few pricing points in the MS-66 grade that have been added to our value guide. An important example is the rare 1911-D quarter eagle, which is now listed in our guide at $175,000. If you locate one of these that you wish to purchase just use our value as a guide. It could sell for more or less than that price, but should be in that ballpark.

The common-date circulated coins in this series dropped in price by amounts between $15 and $40. As the melt value on these coins is between $100 and $105 at an $850 per ounce gold price, it is apparent that gold buyers have preferred other coins, like the gold $20 double eagle coins, that trade closer to their melt values.

When the market strengthens again for Indian Head quarter eagles, they are destined to be in strong demand from gold coin marketers and buyers.