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Lot
3014

1875 $3 PR65 Cameo NGC. Ex: Browning. This is another ...

2004 Orlando, FL (FUN) Signature Sale #336

 
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Auction Ended On: Jan 7, 2004
Item Activity: 7 Internet/mail/phone bidders
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Description:
Cameo Gem 1875 Three Dollar--One of the Most Sought After of All U.S. Gold Coins
1875 $3 PR65 Cameo NGC. Ex: Browning. This is another extremely rare gold coin in this fabulous collection. The 1875 is a proof-only date, but the actual number produced is subject to some dispute. The official mintage was 20 pieces; however, somewhere around 31-33 pieces are actually believed known today. This suggests that collector demand must have exceeded the Mint's projections and an unknown (but small) number of coins were struck later than February 13. In fact, research has been done on 1875 threes, and it appears that two different states of the dies were used to strike the proofs of this year. This coin most closely matches those coins considered to be originals, and it exhibits the following characteristics:

1. The die scratch on the obverse from the upper left serif of the F in OF is faintly visible. (This is the same obverse die that the Mint used to produce the 1873 and 1874 proofs).
2. The lower loop of the first S in STATES is filled.
3. The left loop of the reverse ribbon is mostly filled.
4. There is no evidence of die rust over the OL in DOLLARS.

This is an exceptional proof striking that is equally well preserved. The fields are deeply mirrored and the design motifs display generous amounts of mint frost that produces a strong two-toned, white-on-black cameo contrast on each side. The surfaces are slightly hazy but there are no obvious contact marks present. However, for pedigree purposes three tiny specks of copper alloy are present on the lower obverse, and there is a tiny planchet flake at 3 o'clock near the reverse rim.
The 1875 three dollar is one of the most famous of all U.S. coins and it has always been highly valued. It was the first coin to ever sell for a sum in excess of $100,000 at auction.
Ex: Dallas Bank Collection (Sotheby's/Stack's, 10/01), lot 345, where it realized $103,500.(#88039) (Registry values: P8, N150000) (NGC ID# 28AH, PCGS# 88039)

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