1861 $3 PR65 Cameo PCGS. JD-1, Low R.7....

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1861 Three Dollar, PR65 Cameo
Eight to 10 Coins Extant
Sole Finest at PCGS

1861 $3 PR65 Cameo PCGS. JD-1, Low R.7. Ex: Simpson. The year 1861 was an important one in the three dollar gold series, as Dave Bowers and Doug Winter explain in their 2005 series reference, The United States $3 Gold Pieces, 1854-1889. It was the last for which

" ... gold coins were paid out at face value by the Philadelphia Mint. After this time, $3 coins did not circulate at all in the East and Midwest. Small supplies were held by bullion dealers, banks, and exchange offices, and after December 28, 1861, could be bought by paying a premium in terms of paper money."

A total of 5,959 circulation strikes and 113 three dollar gold proofs were manufactured in 1861. John Dannreuther explains that while the 1860 and 1861 claim similar proof mintages, "the number of extant coins is less for the 1861." He pegs the surviving population at just eight to 10 pieces. The reason for the massive discrepancy? Most of the mintage was melted as unsold in January 1862, with the outbreak of the Civil War having put "a damper on collecting" at that time.
The Bob R. Simpson specimen in PR65 Cameo certainly ranks among the finest known and may very well stand alone atop the Condition Census. It is the sole finest at PCGS, having been crossed over from a PR66 Cameo NGC holder. There are still two such grading events reported at that service, but they may represent a single coin (this one). Both sides exhibit profound depth of mirroring in the fields and frosty relief elements over light yellow-gold surfaces. A planchet void below the left side of the wreath bow serves as a pedigree marker. Population: 1 in 65 Cameo, 0 finer (6/22).
Ex: Rod Sweet Collection (Bowers and Merena, 10/2004), lot 559.(Registry values: N10218)

Coin Index Numbers: (NGC ID# 289Z, PCGS# 88024, Greysheet# 8690)

Weight: 5.02 grams

Metal: 90% Gold, 10% Copper

View all of [Important Selections from The Bob R. Simpson Collection, Part IX ]

View Certification Details from PCGS