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Lot
4614

1878 $3 PR63 PCGS....

2011 June Long Beach Signature US Coin Auction #1156

 
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Auction Ended On: Jun 3, 2011
Item Activity: 8 Internet/mail/phone bidders
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Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:

Rare 1878 Three Dollar Gold Piece, PR63
Only 20 Examples Minted
1878 $3 PR63 PCGS. The 1878 proof three dollar gold piece boasts one of the lowest mintages of the series, with just 20 pieces struck. Walter Breen believed the issue was coined simply to fill out the gold proof sets for the year, and all of the sets were apparently sold. The elusive nature of the 1878 proofs was well known to 19th century numismatists, and W. Elliot Woodward called the date "rare" in his catalog of the Heman Ely Collection in 1884,only six years after the set was issued. Experts believe only 10-12 examples are extant today in all grades. Several years can pass between auction appearances, and any offering is an important opportunity for the gold specialist. The incredible PR65 Deep Cameo PCGS specimen in lot 3463 of the Boston ANA Signature Auction (Heritage, 8/2010) realized $63,250.
The present coin is a well struck piece that shows the diagnostic die lump near Liberty's ear quite plainly. The surfaces display the slight orange peel texture seen on many 19th century proofs, while the deeply mirrored fields are highlighted by vivid orange and greenish-gold accents. Housed in a green label holder. Population: 1 in 63, 6 finer (4/11).(Registry values: N4719) (NGC ID# 28AL, PCGS# 8042)

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