1862 Quarter Eagle marked the year that mintages for quarter eagles dropped considerably following the outbreak of the Civil War. Fewer than 100,000 circulation strikes were produced, with a very small number of Proofs for collectors as well. Of the circulation strikes, only a very small number survive in uncirculated grades, with not a single coin graded at the gem (MS-65 level). However, prices for lower grades are still very comparable with the 1861 quarter eagle, which is a very common coin with a large mintage.

1862 was the first full year of the Civil War, which had commenced during the previous year. By now, it had become obvious that this was a conflict that could not be settled within a few months, and both the United States and Confederate States prepared for a long and hard war. The original habitants of North America, the Native Americans, also prepared for another difficult chapter in their history. Ever since the first Europeans set ground on American soil, they had been forced to work, live and move with or for them. One of the Indian nations that adapted to the new life of the Civil War was the Cherokee Nation, who originated in the southeastern of the present-day United States.

The Cherokee were one of the Native American nations that became divided by the Civil War. Living in the south, the majority of Cherokee's were loyal to the confederacy. Over the years, the Cherokee had adopted the white men's style of living, including the Southern manner of keeping black people as slaves. The United States government, since its creation in the 18th century and before, had forced Native Americans to move, using violated treaties and broken promises. As such, trust in that far-distance government was nowhere to be found among the Native Americans.

The Cherokee mainly fought together with the Confederate Army. In one of these battles, the battle of Pea Ridge (or Elkhorn Tavern) in northwestern Arkansas, approximately 800 Cherokee troops fought as part of the Army of the West, led by Earl Van Dorn. In the battle, which was fought on March 7 and 8, 1862 the Confederate army outnumbered the Union, one of the few battles were this was the case. However, the Union army was led to victory by Commander Samuel R. Curtis.

One of the Native Americans which became very influential within the Confederate Army was the ¾ Cherokee Stand Watie. During the battle of Pea Ridge, as Confederate colonial he covered the retreat of Confederate troops of the battlefield. Soon afterwards, he was promoted to Brigadier General and given command of the First Indian Brigade. During his command, Watie continued to fight for the Confederacy, becoming the last Confederate general in field to surrender, on June 25, 1865.

In uncirculated grades, the regular quarter eagle struck in 1862 is very scarce. No gems have been graded by any of the major grading companies, with the finest being a few MS-64's. Most of these are locked up in major collections, and specialists should not miss any opportunity to buy one. Prices are relatively low, as collector demand for these quarter eagles is relatively low. With the sesquicentennial of the Civil War coming up, however, the Civil War dates should see an increase in demand during the next few years, together with rising prices.