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Lot
1586

1877 $3 AU53 PCGS....

2010 June Long Beach, CA Signature US Coin Auction #1140

 
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Auction Ended On: Jun 4, 2010
Item Activity: 10 Internet/mail/phone bidders
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Location:

Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:
1877 Three Dollar, AU53
Rarely Seen as an Unquestioned Business Strike
1877 $3 AU53 PCGS. The 1877 three dollar is a well-known key to the series. It is primarily well-known because so many coins dated 1877 are low-mintage rarities, and the three dollar has a low mintage to back it up with only 1,468 pieces struck for circulation. All such pieces have prooflike fields or remnants of prooflikeness (as seen here). While there were 30 proofs struck, it is believed that an unrecorded number were struck at a later date, thus making proofs "easier" to locate than actual business strikes. That is especially the case with impaired proofs. Since diagnostics are known for proofs, it is a relatively simple matter to verify that this piece was struck for circulation: It lacks the "teardrop" near the eye, there is no rust spot below Liberty's ear, and the date is higher in the field than seen on a proof. The protected areas around the devices show significant prooflikeness still, while the fields have been dulled by handling by a short time in the channels of commerce. Numerous small, and a few medium-sized abrasions are scattered over each side. This is a rare opportunity for the three dollar specialist. Population: 4 in 53, 29 finer (4/10).(Registry values: N2998) (NGC ID# 25MY, PCGS# 7999)

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