1873 $3 Closed 3 PR65+ Cameo PCGS. CAC. JD-3, R.7....

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1873 Three Dollar, PR65+ Cameo
Closed 3 Proof, Half a Dozen Known
Enigmatic Ultra-Rarity

1873 $3 Closed 3 PR65+ Cameo PCGS. CAC. JD-3, R.7. Ex: Harry W. Bass, Jr. Collection. The 1873 proof three dollar is certainly one of the more enigmatic issues in the series. Writing in United States Proof Coins, Volume IV: Gold, Part I, John Dannreuther begins his commentary on the 1873 with a rather ominous remark: "Perhaps no coin in American numismatics has had such obfuscation as the 1873 three dollar gold issue," joking that everything we know about it is wrong. While that may be slightly hyperbolic, the 1873 proof three dollar definitely has caused confusion among collectors for decades.

Mint documents report 25 proof threes delivered on February 18, 1873. While examples of the 1873 proof three exist with both Closed and Open 3s in the date, there is no record regarding how many of each were produced with the two logotypes. To make matters even more convoluted, the Closed 3 proofs come either with or without a dished obverse. Finally, there is evidence to suggest that some of the Open 3 proofs were struck after the 1874 and 1875 three dollar proofs were manufactured, creating the existence of originals and restrikes. All in all, Dannreuther estimates that 11 to 14 Open 3 representatives survive, plus one Closed 3 proof with a non-dished obverse in the National Numismatic Collection at the Smithsonian Institution, and four to six Closed 3 pieces with dished obverses.

The Harry W. Bass, Jr. offering is one of those latter survivors, which Dannreuther designates as JD-3. Perhaps unsurprisingly given the ultimate rarity of these proof threes, this is only the second 1873 Closed 3 representative we have handled, the other being the PR61 PCGS coin (ex: Richmond-Jewell) that takes fifth place on our roster (see below). We last offered that piece in 2011, pointing out that it was "rarer than the proof-only 1873 Open 3, 1875, and 1876, all of which have at least triple the number of survivors. Only the proof 1855 is rarer (three to five known), and by a slender margin."

Today, we have the pleasure of presenting not just another example of this elusive issue, but a formerly unobtainable museum-quality Gem that ranks second finest behind a coin that has not been seen publicly in more than three decades. Dave Bowers provided the following description of the Bass coin in 2001: "Gorgeous gem Proof 1873. Frosted devices create some cameo contrast with sparkling deep mirror fields on both sides. Deeply impressed and beautifully centered. Blush of original yellowish toning on lower obverse and center reverse." The surfaces remain unchanged since that description was penned, maintaining a delightful cameo appearance and gorgeous color. That aesthetic quality, combined with the coin's absolute rarity and terrific pedigree are sure to spark spirited bidding among three dollar gold specialists.

Roster of 1873 Closed 3 Three Dollar Proofs From Dished Dies, JD-3
1. Superb Gem Proof 67 Uncertified. Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 299, $30,800; Auction '84 (Paramount, 7/1984), lot 885, $27,500.
2. PR65+ Cameo PCGS. Abe Kosoff, sold privately on 7/23/1973; Harry W. Bass, Jr. Foundation Collection (HBCC# 4028). Incorrectly shown as HBCC #4027 in John Dannreuther's United States Proof Coins, Volume IV: Gold, p. 461. The present coin.
3. PR65 PCGS. James Walter Carter & Margaret Woolfolk Carter Collections (Stack's, 1/1986), lot 132; Huberman Collection (Stack's Bowers, 4/2022), lot 3105, $156,000.
4. PR63 PCGS. Auction '81 (RARCOA, 7/1981), lot 416, $40,000; Buddy Ebsen Collection (Superior, 5/1987), lot 2414, $38,500; Ed Trompeter Collection, Part I (Superior, 2/1992), lot 115, $23,100; Michael I. Keston Collection (Superior, 1/1996), lot 58, $25,300; Dr. Richard Ariagno Collection (Goldberg Auctions, 5/1999), lot 703, $19,800; Dr. Jon Kardatzke Collection (Goldberg Auctions, 6/2000), lot 1262, $19,550; Belvedere Collection (PCGS Set Registry).
5. PR61 PCGS. Richmond Collection, Part I (David Lawrence, 7/2004), lot 1285, $20,700; Richard C. Jewell Collection (American Numismatic Rarities, 3/2005), lot 640, $36,800; Madison Collection (Heritage, 1/2008), lot 3121, $40,250; FUN Signature (Heritage, 1/2011), lot 5068, $37,375.
6. Proof Uncertified. Public Auction Sale (Lester Merkin, 10/1969), lot 416; Public Auction Sale (Lester Merkin, 10/1973), lot 473; Auction '86 (Stack's, 7/1986), lot 372, $4,180. Called PR45 in the Dannreuther roster.

To this list must be added the unique 1873 proof three dollar, Close 3, Undished Dies, JD-2 in the National Numismatic Collection at the Smithsonian Institution (NU.68.159.0131).
From The Harry W. Bass, Jr. Core Collection, Part III. (Registry values: P6)

Coin Index Numbers: (PCGS# 88036, Greysheet# 8726)

Metal: 90% Gold, 10% Copper
Weight: 5.02 grams
AGW: 0.16oz

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