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Minor Gold Type Coins - Three Dollar Gold Pieces
BillJones
Posts: 33,632 ✭✭✭✭✭
In 1854 the U.S. Mint issued the first Three Dollar Gold Pieces. This unnecessary denomination never become popular, and the mintages were very low. The official purpose that was given for the coin was that it would facilitate paying for 100 three cent silver coins or purchasing 100 of the new three cent First Class Postage stamps.
During the first year, the word “DOLLARS” on the reverse was about half the size that it would be in subsequent years. The number “3” was also smaller. The difference is at least as significant as the change that was made to the Standing Liberty Quarter in 1925.
Interestingly a recycled die was used to strike the 1856 $3 gold Proof coins. It displayed the small “DOLLARS” under the large “DOLLARS.” Collector Harry Bass was the first to point that unusual feature out to the collecting community.
Three Dollar Gold Pieces are expensive, and certification is HIGHLY recommended because many counterfeits have been made through the years. Still this is an interesting subtype to collect.
During the first year, the word “DOLLARS” on the reverse was about half the size that it would be in subsequent years. The number “3” was also smaller. The difference is at least as significant as the change that was made to the Standing Liberty Quarter in 1925.
Interestingly a recycled die was used to strike the 1856 $3 gold Proof coins. It displayed the small “DOLLARS” under the large “DOLLARS.” Collector Harry Bass was the first to point that unusual feature out to the collecting community.
Three Dollar Gold Pieces are expensive, and certification is HIGHLY recommended because many counterfeits have been made through the years. Still this is an interesting subtype to collect.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
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Nice sized and they are gold! What's there not to like.
Couldn't agree more on the certifying via PCGS/NGC as the fakes are really really good!
I have several gold pieces in my collection, but I haven't added a $3 yet, in part because I haven't taken the time to learn about them. Thanks for the quick education and the great pictures.
Brian
42/92
Both PCGS and NGC have about the same standards for these coins. In my view most any $3 gold that is graded from MS-60 to 63 is really Mint State. The best MS-63 I’ve ever seen was in an NGC holder. It was a full Unc., but I was moving and concerned about my cash flow at the time, and so did not buy it.
For a really rich, determined guy, the 1870-S would be the only stopper in the set. The rest can be done if you work the auctions or work with a really connected dealer.
<< <i>for $400 to $450 each. >>
Dang!
The $3 and Type II $1 are what keep me from completing my 12 piece gold type set in MS64
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Well that's true. I think I was making $1.85 an hour working after school at Kenny's Shoes back then
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4th Best Registry Set
P.S. For what it is worth the pop 5 1864 MS64 reportedly came from an old time collection and would likely upgrade on a resubmission. Only 3 have been graded higher than MS64 by PCGS.
Thanks for the educational post and the pics of reverse of two very nice coins. wonderful luster on the 1854 with what I believe is a characteristic weakness in the "5". I've only owned one $3 for U.S. Gold Type Set. The obverse depiction of Lady Liberty is one of my favorites.
Depending on your definition of "rich" [i am not by any definition!] this set is do-able w/o the S mint 70. Not that many coins and w/o the 70-s the set of 40 fits nicely in two NGC or PCGS boxes!
For those wanting to start collect the series I suggest NOT doing a registry set and focus more on getting the dates/mints in good eye appeal condition from NGC/PCGS/ANACS in grades VF and above. There is no hurry and you can always upgrade. There are 4 currently registered sets none mine as I collect both services.
I am 8 coins from completion, that D mint is a killer on the purse but a realprize as it is the only D in the series. COins range in grade from VF30 to MS62, most are not MS as I like that slight worn look of non cleaned coins.
WOW! You are doing great. There are some seriously tough coins in the series, even aside from the 54-D. In the last year, it seems that the prices have also jumped significantly. The 54-O seems rather available, but pricy. The "S" mint coins (excluding the 70-S) are all fairly difficult to find in original (and no problem) condition, and when they appear, they disappear just as quickly. Then there are some tough Civil War dates (esp. 1865) and late 70's and early 80's dates (with low mintages). I think it is a challenging series to collect, one in which you need pretty deep pockets, but one that is very interesting. Congratulations on your success so far.
The secret is to be ready to pull the trigger when coins you need appear. They seem to appear in bunches. Prices have moved higher, especially for the MS coins but XF and below remain reasonable. As you already know, finding them is the key. Who is hoarding these coins!!! Pops can't be right as I see some dates once every 2-3 years at any major auction and 2 major shows. But that makes the hunt that much more interesting.
I was in an upgrading mode but not with the recent higher prices in MS. I do snap up nice lower grade coins I already own in hopes of helping me finance that D mint!
Believe it or not I have met dealers who think I am joking when I ask if they have $3 gold. Sometimes they say, "You mean bullion at $300 per oz.?" They have never heard of such a coin. Maybe it's better that way?
"Indian Princess"
Yes, Longacre choose a depiction of a Native American as symbolic of Liberty on the $3 gold pieces although according to Breen "its so-called Indian Princess head, so far from attempting to depict any Native American, is still another avatar of the Greco-Roman Venus Accroupie profile which had already served Longacre fo rthe Gol dollar and double eagle, though twith a feathered headdress supposed to emphasize national character".
BillJones
The NGC MS-64 is awesome!
That is universally true, but especially when it comes to this series. I have found myself pulling the trigger as fast as possible, but still being outgunned by someone else.
Collecting $3's
54-D $3
I hope he publishes a book on the series soon!
That 1854 is outstanding
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