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Lot
5331

1854-D $3 AU58 NGC. Variety 1-A....

2014 February 3 - 5 US Coins Signature Auction - New York #1202

 
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Auction Ended On: Feb 4, 2014
Item Activity: 4 Internet/mail/phone bidders
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Location: Heritage Auctions
445 Park Avenue, 15th Floor
New York, NY 10022
Description:

1854-D Three Dollar, AU58
Bright, Top-Notch Example
Mintage of 1,120 Coins
1854-D $3 AU58 NGC. Variety 1-A. It appears that U.S. Mint and Treasury officials had high hopes for the three dollar gold coin denomination, which made its debut in 1854.

Those hopes faded quickly.

The Philadelphia Mint made an ambitious production of 138,618 coins for the premiere, a record that would go unchallenged through the three-and-a-half decades of the series' subsequent coinage.

In all, four mints, three during the opening year, made the denomination, also including Dahlonega, New Orleans, and San Francisco late to the party, striking its first coins in 1855.

Some numismatists have theorized that the three dollar gold was useful for purchasing 100-stamp sheets of three-cent postage stamps.

The logic of requiring a three dollar coin for such a purpose, as opposed to, say, a quarter eagle and a half dollar, or six half dollars, has always escaped us.

The little Dahlonega Mint in North Georgia even entered the fray in 1854, striking a meager 1,120 pieces of the opening D-mint issue. Dahlonega was a fitting participant, as it (and its sister Charlotte) were accustomed to striking the smaller U.S. gold coins, excluding eagles and double eagles.

The present near-Mint State NGC-graded piece is in the second tier of the Condition Census, as few true Mint State examples survive. The surfaces are bright and satiny greenish-gold with orange overtones. A couple of stray marks are well within the grade context, and the overall eye appeal is top-notch for this high-end rarity. Census: 24 in 58, 9 finer (12/13).
Ex: Central States Bullet Sale (Heritage, 3/2000), lot 421.(Registry values: N7079) (NGC ID# 25M4, PCGS# 7970)

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