THE THREE-DOLLAR GOLD PIECE
The
three-dollar gold piece is the most unusual denomination
gold coin that was ever struck by the United States mint.
Although it only received a lukewarm reception by the American
public when it was first struck in 1854, it is a highly
collected rarity by many collectors today. 
Three-dollar gold pieces are popular because of their low
mintages. In fact, only a total of about 540,000 coins
were struck during the entire series spanning from 1854
to 1889. During this time period, the Philadelphia mint
was frequently striking more half eagles in a single mintage
year than the total number of three-dollar pieces during
the entire series. It is fair to say that any three-dollar
gold piece is quite rare and in any mint state condition
they are significant rarities.
In 1854, the three-dollar piece was first introduced to the American
public. It was an odd denomination and many people felt that it was
struck to facilitate the purchase of 3-cent stamps. The expectation
was that most of these coins would see their circulation at postal
facilities when sheets of 100 stamps were frequently sold for three
dollars. In 1854, the vast majority of coins were struck in Philadelphia.
Only 1,120 coins were struck at the Dahlonega mint and 24,000 coins were struck
in New Orleans. The first-year issue is highly collectible and the Dahlonega
and New Orleans mint pieces are two of the key coins to the entire series. The
San Francisco mint struck the denomination in 1855, 1856, 1857, 1860 and a single
coin in 1870. The 1870-S Three-dollar piece would likely trade at well over a
million dollars today.
Even though the series offers many ultra rarities that can trade in
the six-figure price level, there are a number of splendid examples
that are still affordable to the average collector. Mint State examples
of various dates are attainable in the $2,000 to $10,000 price range.
The best values are the coins with mintages of less than 5,000 coins.
Frequently, these dates have a proof-like appearance. Because so few
coins were struck, the dies were able to create fantastic looking pieces
before they would wear out. Many of the coins exhibit super sharp details
with nice contrast between the fields and devices of the coin. Frequently, these
coins are nearly impossible to differentiate between proofs and business strikes.
Proof examples of the three-dollar gold piece are another area that
is highly collectible. However, nice examples of these coins can easily
trade above the $10,000 level. Only approximately 2,000 proof examples
were struck and many of these no longer exist today. Proof three-dollar
pieces are simply gorgeous and they are truly the caviar of numismatics.
Typically only about 20 to 50 proofs were struck during each year and
any surviving example is an extraordinary rarity.
The three-dollar piece was last struck in 1889. During this same year,
the gold dollar along with the three-cent silver came to an end. The
reception by collectors today is certainly much greater than it was
by the American public nearly 150 years ago when they were first released.
However, the series still appears to be undervalued and they offer
tremendous rarity for the money. If you have an interest in super low
populations and tiny mintages then this is the coin for you. We generally
carry at least a dozen investment grade examples of the three-dollar
piece in our inventory. If you have an interest in one of these exquisite pieces
then give us a call. It would be our pleasure to forward you our current inventory
roster of this exciting series of U.S. gold coinage.
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