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1854 $3 MS68 PCGS. The Three Dollar gold series of 1854-...

2004 June Long Beach Signature Sale #349

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Auction Ended On: Jun 3, 2004
Item Activity: 10 Internet/mail/phone bidders
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Location: Long Beach, CA
Popular First-Year 1854 Three Dollar Gold, Awe-Inspiring MS68 PCGS Quality
1854 $3 MS68 PCGS. The Three Dollar gold series of 1854-1889 is among the more curious in U.S. numismatics. If we are to believe Breen, Congress authorized this denomination for ease of exchanging Three Cent Silvers and purchasing sheets of three cent stamps. The initial Philadelphia Mint delivery occurred on May 8 of 1854 with the final coins of this date emerging from the presses on November 10. Although not widely recognized as such, the 1854 represents a one-year type--the letters in DOLLAR on the reverse are significantly smaller than on coins dated 1855-1889.
As a first-year issue, the 1854 appears to have been saved in not insignificant numbers. As such, it should come as no surprise that this issue is the most plentiful Three Dollar gold piece in today's market after the 1878. The certified population of the 1854, however, dwindles rapidly as one reaches and then surpasses the MS65 level. Only one coin has received an MS68 designation at the major grading services (3/04), and it is the extraordinary PCGS example that we are offering in the present lot.
There is much to recommend this coin to discerning collectors, first and foremost of which is the exceptional technical quality. The strike is as close to full as one should expect for the type, and the surfaces are overlaid in warm satin-to-softly frosted luster. There are virtually no abrasions, and a very shallow planchet flaw (as struck) in the obverse field before the point of Liberty's neck is the only worthwhile pedigree marker. Of course, the eye appeal is also worthy of praise, both sides being awash in orange-gold color with a few blushes of soft rose-gold tinting intermingled here and there. One of, if not the finest Three Dollar gold coin of any issue that we have ever offered.
Most certainly Ex: Sotheby's sale of 11/1999, lot 74. (#7969) (Registry values: N1) (NGC ID# 25M3, PCGS# 7969)

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