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Lot
5389

1867 $3 MS67 PCGS. CAC....

2014 January 8 - 12 FUN US Coin Signature Auction - Orlando #1201

 
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Auction Ended On: Jan 9, 2014
Item Activity: 4 Internet/mail/phone bidders Number of Bidders
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Location: Orange County Convention Center
9800 International Drive
Orlando, FL 32819
Description:
1867 Three Dollar, MS67
One of the Two Finest Graded
1867 $3 MS67 PCGS. CAC. Unlike many other gold issues whose yearly outputs plummeted during and after the Civil War, the three dollar gold series was largely unaffected by the horrors of the battlefield. (For example, the Liberty Head double eagle series dropped from a mintage of nearly 3 million coins in 1861 to 92,133 pieces in 1862.) But mintages were already low for the three dollar gold series, as they had been virtually since the series debuted in 1854; by 1861, the year the Civil War commenced, Philadelphia struck nearly 6,000 circulation strikes, although the 1864 and 1865 issues were considerably lower still. The mintage of the 1867 three dollar gold was a meager 2,600 coins, but still-lower production totals were to follow in the 1870s and 1880s, with the exceptions of 1874 and 1878.

This Superb Gem survivor, certified by PCGS, is one of only two such at that service, and none are finer (11/13). On the obverse slight doubling appears (known as Longacre doubling, caused by sinking the punch too deeply into the die) on TED, seen on all circulation strikes. The reverse shows the date 1867 deeply incised into the die, giving it a sculptural relief on the coin. Die striations are more prominent on the reverse, running diagonally, but they must not be confused with hairlines. The striations are raised slightly from the surface, indicative of their status as part of the die preparation. The color ranges from medium yellow-gold to reddish-gold, with a significant amount of lilac interspersed. The strike is overall quite sharp save for minor weakness on the tips of the feather plumes. Contact marks are nearly unseen, save for a small scattering of picayune tiny marks in the lower-left obverse field, just before the profile of Liberty. This is a coin of remarkable quality and desirability, as one might expect given its provenance.
From The David & Sharron Akers Collection.(Registry values: N10218) (NGC ID# 25MN, PCGS# 7988)

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