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Lot
7091

1858 $3

2000 Santa Clara Sale #242

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Auction Ended On: Nov 17, 2000
Item Activity: 6 Internet/mail/phone bidders
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Description:
Spectacular and Rare 1858 Three Dollar, MS 63 PCGS
1858 $3 MS 63 PCGS. According to Walter Breen (1988), the Philadelphia Mint produced 2,133 three dollar gold pieces on August 26, 1858. These were the only business strikes to bear this date, although an unknown, but presumably limited number of proofs were also delivered at some other time this year. Prior to 1858, production of this denomination had remained above 20,000 coins at the parent facility. Therefore, this issue stands as the first of numerous low mintage deliveries from the Philadelphia Mint.
It is unlikely that more than 100 business strike 1858 three dollar gold pieces are extant, and most of these coins fall into the VF-XF grade range. In Mint State, NGC and PCGS have certified only 15 examples in grades ranging from MS 60 through MS 65 (7/00). In the middle of this range, yet still qualifying for low-end Condition Census status, the present example boasts superior eye appeal for the grade. The few abrasions are both small and relatively innocuous, and the otherwise frosty texture yields to modest brightness in the fields at certain angles. The hair curls, headdress, and wreath are all sharply impressed. This coin is the finest 1858 three dollar gold pieces that we have ever offered.
Ex: February 2000 Long Beach Signature Sale (Heritage, 2/00), lot 6661, where it realized $11,615. (NGC ID# 25MC, PCGS# 7978)

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