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Lot
7901

1876 $3 PR65 Cameo NGC. The proof-only status of the 1876 ...

2003 September Long Beach Signature Sale #330

 
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Auction Ended On: Sep 19, 2003
Item Activity: 3 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Elusive Proof-Only 1876 Three Dollar PR65 Cameo
1876 $3 PR65 Cameo NGC. The proof-only status of the 1876 Three Dollar has given it much notoriety over the decades and its well documented rarity is assured by a mintage of just 45 coins. Although produced from a single set of dies, there were two separate deliveries during the year. The earliest group of coins, numbering 20 pieces, was produced on February 19. The dies were then stored until a further 25 coins were minted on June 13. One must allow for duplication in arriving at the number of surviving 1876 threes, but even so it seems that no more than 25-30 pieces are extant today. The population of unimpaired examples, however, is much lower, with as many as a dozen specimens having been rigorously cleaned or even used as pocket pieces.
This high quality specimen displays appreciable contrast between the fields and devices, and there is a familiar "halo" effect in intervals about the head of Liberty, the result of slight granularity in the fields. The color is a rich green-gold with a subtle reddish tinge. Two tiny blemishes are noted near the reverse border at 4 o'clock and there is an out-of-the-way hairline above the wreath. A magnificent example of this important Three Dollar gold rarity. Population: 1 in 65 Cameo, 2 finer (7/03). (NGC ID# 28AJ, PCGS# 88040)

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