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Lot
4002

1854-D $3 AU55 PCGS Secure....

2012 March 8-11 US Coin Signature Auction - New York #1168

 
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Auction Ended On: Mar 9, 2012
Item Activity: 13 Internet/mail/phone bidders Number of Bidders
1,071 page views
Location: Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075

Description:
Famous 1854-D Three Dollar, AU55
Odd-Denomination Southern Gold
1854-D $3 AU55 PCGS Secure. It is an open question whether the three dollar gold piece was wanted at all by more than a tiny subset of Americans. An even bigger question: what could the demand have been for three dollar gold coins in the southeastern U.S., where the Charlotte and Dahlonega Mints stood among largely played-out gold fields? The answer to the latter, at least, is "not much demand at all," as evidenced by the mintages at the two facilities: none for Charlotte, and just 1,120 pieces for Dahlonega.
The combination of Southern-gold charm, the odd denomination, and low-mintage rarity is irresistible to many collectors. Alongside the unique 1870-S and proof-only 1875 and 1876 issues, the 1854-D is a "stopper" of the series, even though a number of later Philadelphia issues of the 1880s technically have lower mintages; by that time, the three dollar gold piece effectively had stopped circulating, and higher-end pieces were the rule, not the exception.
The reverse, of course, is true for the 1854-D, manufactured in one of the most unfavorable conditions for a U.S. coin. That this Choice AU example is lustrous at all sets it apart from most of its peers, but it goes a step beyond, showcasing generous yellow-to-orange luminosity. Wear appears mainly on the high points, such as Liberty's leading hair and the rounded tops of the wreath elements. Minimally abraded and with a patina of authenticity, this is a rewarding survivor that should appeal to a range of Southern gold and odd-denomination enthusiasts. Population: 19 in 55, 12 finer (1/12).(Registry values: N7079) (NGC ID# 25M4, PCGS# 7970)

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