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    Description

    1860 Three Dollar Gold Piece, PR67
    Rare Early Proof Gold Issue
    Finest Certified Cameo Example

    1860 $3 PR67 Cameo NGC. The official mintage figures for the three earliest wide-release proof three dollar gold issues -- the 1859, 1860, and 1861 -- are likely gross mintages rather than net; in the example of the 1860 proof, Garrett and Guth write that despite a stated mintage of 119 pieces, "the true mintage is probably somewhere between 40 and 60 Proofs." That figure is more in line with stated production figures from 1862 to 1864, which ranged 35 to 50 pieces.

    The authors make further relevant notes about the 1860 three dollar gold proof, stating that on average, "this date appears at auction less than once a year." Early collectors prized the lower denomination gold issues but most found it too expensive to systematically collect contemporary eagles and double eagles. As a result, gold proof sets were frequently broken up, with owners retaining the lower denominations and disposing of the tens and twenties for a nominal profit, or just spending the larger coins. The 1860 Three dollar gold piece began appearing individually at auction at an early date, with a typical description appearing in lot 452 of the Catalogue of Coins and Medals (Edward Cogan, 9/1869), "1860 Three Dollar piece; beautiful Proof and scarce." The coin sold for a respectable $6, not bad for a coin that was less than ten years old at the time. Recent sales include the prior appearance of the present coin in our April 2011 Central States Signature Auction, Where it realized $83,375.

    The mirrors on each side of this Premium Gem specimen have intense sun-yellow color that borders on orange, while the devices show a distinctly lighter tone in addition to their ample frost. The strike is crisp as expected, and though a few tiny lint marks and other imperfections are present (such as a small depression near 3 o'clock on the reverse), the surfaces are carefully preserved overall, with only minor clouding and other flaws precluding an even finer designation. Census: 1 in 67 Cameo, 0 finer (7/14).
    Ex: FUN 2005 (Heritage, 1/2005), lot 30433; Central States Signature (Heritage, 4/2011), lot 5364, realized $83,375.(Registry values: N10218) (NGC ID# 289Y, PCGS# 88023)

    Weight: 5.02 grams

    Metal: 90% Gold, 10% Copper


    Learn more at the Newman Numismatic Portal at Washington University in St. Louis.

    Auction Info

    Auction Dates
    September, 2014
    4th-6th Thursday-Saturday
    Bids + Registered Phone Bidders: 12
    Lot Tracking Activity: N/A
    Page Views: 948

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    I wish to extend our appreciation to you for over $925,000.00 realized from the above subject auction. This amount realized was approximately $110,000.00 more than we anticipated.
    Federal Deposit Insurance Corporation,
    Newport Beach, CA
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