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Lot
4488

1877 $3 AU53 PCGS....

2013 April 24 - 28 CSNS US Coin Signature Auction - Chicago #1184

 
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Auction Ended On: Apr 25, 2013
Item Activity: 4 Internet/mail/phone bidders
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Location: Renaissance Schaumburg Convention Center Hotel
1551 North Thoreau Drive
Schaumburg, IL 60173

Description:
1877 Three Dollar, AU53
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: 5 in 53, 32 finer (3/13).
From The Camano Island Collection.(Registry values: N2998) (NGC ID# 25MY, PCGS# 7999)

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