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LOT #5367  | 
Sold on Apr 28, 2011 for: $109,250.00

1876 $3 PR65 Ultra Cameo NGC....

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Sold on Apr 28, 2011 for:
$109,250.00 Bid Source: Internet bidder
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Description

1876 Three Dollar, PR65 Ultra Cameo
Rarely Seen Proof-Only Issue

1876 $3 PR65 Ultra Cameo NGC. The 1876 three dollar is an issue analogous to the much-better known 1895 Morgan dollar: Both are only available in proof format. However, the 1876 three is most often compared to the 1875 three dollar, also a proof-only date. The preceding year is distinctly scarcer than the 1876, a situation somewhat muddied by an official mintage and speculation about the actual mintage of the 1876. Officially only 45 proofs were struck in this year. The first delivery was on February 19, totaling 20 coins. The second delivery came on June 13 with 25 more proofs. Garrett-Guth state: "An unknown number of additional Proofs were made at an unknown date from a different obverse die."
While few collectors care about die varieties of gold coins, especially proof gold coins, Harry Bass was one who did. His study of this issue concluded that there are two dies dated 1876, and the first die has a second die state. The #1 die shows no die rust in the headdress. The second die pair shows rust on the headdress, and no parallel lines are evident in the area of the I in LIBERTY. This particular coin evidences no die rust. A secondary trait of this die pair is graininess in the field or an "aura" around the portrait. This porosity is strongly evident in the obverse fields around the figure of Liberty, and to a lesser degree in the reverse fields. This coin is clearly an original striking, most likely one of the 20 proofs delivered in February, as the June strikings show slight die rust from the same die marriage.
The 1876 three is known to sometimes appear impaired and in lower grades, and it is also unusually available for such a low-mintage issue in high grades and with Cameo and Ultra/Deep Cameo features. This lovely yellow-gold example has the expected depth of mirroring in the fields with sharply contrasting frosted devices. A tiny planchet flake in the field below the bust of Liberty may not be significant enough to aid in tracing the pedigree of this important rarity. Census: 3 in 65 Ultra Cameo, 2 finer (3/11).
From The Slotkin Family Trust Collection.(Registry values: P5)

Coin Index Numbers: (NGC ID# 28AJ, PCGS# 98040, Greysheet# 8738)

Weight: 5.02 grams

Metal: 90% Gold, 10% Copper

View all of [The Slotkin Family Trust Collection ]

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Auction Info

2011 April Rosemont CSNS Signature & Platinum Night US Coin Auction #1154 (go to Auction Home page)
Auction Dates
Apr-May, 2011
27th-1st Wednesday-Sunday
Bids + Registered Phone Bidders: 12
Lot Tracking Activity: N/A
Page Views: 4,281

Buyer's Premium per Lot:
15% of the successful bid per lot.

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Sold on Apr 28, 2011 for: $109,250.00
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