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- 1883 $3 MS63 NGC. Ex: "Col." E.H.R. Green. The production of three dollar gold coins dropped below the 1,000-coin mark for just the second time in 1883, when the Mint struck a mere 900 coins (third-lowest in the entire series). Such a low mintage makes the date widely sought-after. Vibrant luster enlivens the well-preserved surfaces of this Select example, and each side is draped in rich honey-gold color. The design features are strongly struck with noteworthy definition over the lower wreath. A few wispy marks are lightly scattered and minimally distracting, and a spot is seen within the upper loop of the 3 in the denomination. NGC has certified 33 numerically finer submissions (8/14). Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $55.00; Eric P. Newman Numismatic Education Society. Realized $7637.50. Description courtesy of Heritage Auctions.
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- 1883 $3 PR66+ Cameo NGC. CAC. Numismatists and researchers have long questioned the utility of the three dollar gold denomination. They have argued that the coins too closely resembled the well-established quarter eagles and that they were convenient only for the exchange of three cent pieces or the large-scale purchase of three cent postage stamps. However, employing a more contemporary perspective and examining the popularity and commercial usage of three dollar bank notes provides insight into the rationale behind the establishment of the three dollar gold coin in 1854. Writing in The United States $3 Gold Pieces (2005), Bowers and Winter explain: {blockquote}"While early in 1853 the $3 gold coin had not been created, there was no lack of $3 paper bills. Indeed, this was one of the most popular of all denominations issued by the over 1,000 state-chartered banks in operation in the United States."{/blockquote} It makes sense, then, that a three dollar gold coin would catch on as a "hard money" replacement for the extensively circulated, though speculative and risky, paper currency. In reality, the coins never enjoyed long-lasting popularity, and mintages were perennially among the lowest of any denomination. Like other production totals from the 1880s, the 1883 claims a paltry mintage in both circulation strike and proof formats: the Mint struck just 900 business strikes and only 89 proofs. CoinFacts estimates that 60 proofs survive in all grades, while Bowers and Winter hypothesize that 55 to 70 examples are extant. Certainly, all 1883 proofs are rare whether the true number of remaining representatives is closer to the lower or upper end of that range. The NGC Census reports 32 Cameo examples certified. Of those, only four coins have been graded PR66, and this is the sole Premium Gem awarded a Plus designation, indicating that the coin is high-end for the grade and approaches the technical requirements for the next grade. Including all non-Cameo, Cameo, and Ultra Cameo proofs certified by NGC, only two coins are certified finer (8/14). The eye appeal of this remarkably well-preserved representative is nothing short of spectacular. A thick layer of mint frost covers predictably needle-sharp devices, exhibiting pronounced contrast against deeply mirrored fields. A bold wire rim encompasses the borders around each side, and the yellow-gold surfaces show areas of pale toning in the left-obverse field. Inspection with a glass reveals a few trivial ticks that serve as future pedigree markers. Locating a finer example from the short-lived and highly coveted three dollar gold coin series will prove challenging, if not impossible. Ex: Eric P. Newman Numismatic Education Society. Realized $70500.00. Description courtesy of Heritage Auctions.
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- 1883 $3 PR66+ Cameo NGC. CAC. Numismatists and researchers have long questioned the utility of the three dollar gold denomination. They have argued that the coins too closely resembled the well-established quarter eagles and that they were convenient only for the exchange of three cent pieces or the large-scale purchase of three cent postage stamps. However, employing a more contemporary perspective and examining the popularity and commercial usage of three dollar bank notes provides insight into the rationale behind the establishment of the three dollar gold coin in 1854. Writing in The United States $3 Gold Pieces (2005), Bowers and Winter explain: {blockquote}"While early in 1853 the $3 gold coin had not been created, there was no lack of $3 paper bills. Indeed, this was one of the most popular of all denominations issued by the over 1,000 state-chartered banks in operation in the United States."{/blockquote} It makes sense, then, that a three dollar gold coin would catch on as a "hard money" replacement for the extensively circulated, though speculative and risky, paper currency. In reality, the coins never enjoyed long-lasting popularity, and mintages were perennially among the lowest of any denomination. Like other production totals from the 1880s, the 1883 claims a paltry mintage in both circulation strike and proof formats: the Mint struck just 900 business strikes and only 89 proofs. CoinFacts estimates that 60 proofs survive in all grades, while Bowers and Winter hypothesize that 55 to 70 examples are extant. Certainly, all 1883 proofs are rare whether the true number of remaining representatives is closer to the lower or upper end of that range. The NGC Census reports 32 Cameo examples certified. Of those, only four coins have been graded PR66, and this is the sole Premium Gem awarded a Plus designation, indicating that the coin is high-end for the grade and approaches the technical requirements for the next grade. Including all non-Cameo, Cameo, and Ultra Cameo proofs certified by NGC, only two coins are certified finer (8/14). The eye appeal of this remarkably well-preserved representative is nothing short of spectacular. A thick layer of mint frost covers predictably needle-sharp devices, exhibiting pronounced contrast against deeply mirrored fields. A bold wire rim encompasses the borders around each side, and the yellow-gold surfaces show areas of pale toning in the left-obverse field. Inspection with a glass reveals a few trivial ticks that serve as future pedigree markers. Locating a finer example from the short-lived and highly coveted three dollar gold coin series will prove challenging, if not impossible. Ex: Eric P. Newman Numismatic Education Society. Realized $70500.00. Description courtesy of Heritage Auctions.
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- 1878 $3 AU55 NGC. CAC. The 82,304-piece mintage was the largest for the entire series except for the inaugural 1854 issue, making this issue a logical candidate for type in all grades. The present example offers a hint of luster among the devices; smooth wear is limited to the high points. Ex: Eric P. Newman Numismatic Education Society. Realized $1028.13. Description courtesy of Heritage Auctions.
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- 1878 $3 AU55 NGC. CAC. The 82,304-piece mintage was the largest for the entire series except for the inaugural 1854 issue, making this issue a logical candidate for type in all grades. The present example offers a hint of luster among the devices; smooth wear is limited to the high points. Ex: Eric P. Newman Numismatic Education Society. Realized $1028.13. Description courtesy of Heritage Auctions.
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- 1878 $3 MS61 NGC. Bowers and Winter (2005) characterize the issue as follows: "The typical Mint State coin is in a lower range with a generous quotient of bagmarks, probably from having been tossed around in bags stored in bank vaults." Fortunately, this example fails to reveal any noteworthy abrasions other than a handful of minor marks lightly scattered over both sides. Shimmering luster blankets yellow-gold surfaces that show splashes of reddish hues, and the design motifs are well struck throughout. An area of mild roughness and deeper toning occurs above Liberty's ear. Ex: Eric P. Newman Numismatic Education Society. Realized $1880.00. Description courtesy of Heritage Auctions.
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- 1878 $3 MS61 NGC. Bowers and Winter (2005) characterize the issue as follows: "The typical Mint State coin is in a lower range with a generous quotient of bagmarks, probably from having been tossed around in bags stored in bank vaults." Fortunately, this example fails to reveal any noteworthy abrasions other than a handful of minor marks lightly scattered over both sides. Shimmering luster blankets yellow-gold surfaces that show splashes of reddish hues, and the design motifs are well struck throughout. An area of mild roughness and deeper toning occurs above Liberty's ear. Ex: Eric P. Newman Numismatic Education Society. Realized $1880.00. Description courtesy of Heritage Auctions.
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- 1878 $3 -- Scratches -- NGC Details. Unc. This sharply detailed wheat-gold type coin displays ample coruscating luster. The reverse is unimpaired, but the obverse has field scuffs near the profile and AMERICA. The mintage of the denomination rose substantially in 1878, in anticipation that some holders of greenbacks would seek redemption in gold coin. However, by 1878, the public was accustomed to the convenience of folding money. Ex: Eric P. Newman Numismatic Education Society. Realized $705.00. Description courtesy of Heritage Auctions.
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- 1878 $3 -- Scratches -- NGC Details. Unc. This sharply detailed wheat-gold type coin displays ample coruscating luster. The reverse is unimpaired, but the obverse has field scuffs near the profile and AMERICA. The mintage of the denomination rose substantially in 1878, in anticipation that some holders of greenbacks would seek redemption in gold coin. However, by 1878, the public was accustomed to the convenience of folding money. Ex: Eric P. Newman Numismatic Education Society. Realized $705.00. Description courtesy of Heritage Auctions.
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- 1878 $3 AU55 NGC. CAC. The 82,304-piece mintage was deemed necessary for an anticipated surge in gold redemptions, resulting from an 1875 government mandate that gold coins would be exchangeable for paper money "at par" as of January 1, 1879. Ironically, there was no need for the large mintage, because the public had become accustomed to paper currency. With federal banknotes already circulating at par, there was no pressing need to exchange the notes for gold. This Choice About Uncirculated example of the 1878 issue retains luster at the margins and shows no significant abrasions over its well struck, olive-gold surfaces. Ex: Eric P. Newman Numismatic Education Society. Realized $1057.50. Description courtesy of Heritage Auctions.
