1854 $3 MS66 NGC....

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Fantastic MS66 1854 Three Dollar

1854 $3 MS66 NGC. Compared to the straightforward treatment accorded the other gold denominations, the Garrett and Guth overview of the three dollar coin in their Encyclopedia of U.S. Gold Coins begins with a paragraph that borders on arch:

"Introduced in 1854, the $3 gold coin's primary purpose was to facilitate the purchase of sheets of 100 postage stamps--in other words, it was the rich man's three-cent piece. Today, their 'numismatic purpose' often is to compete sets of gold type coins, particularly the 12-piece sets [that cover all basic designs and denominations]. Because they are one of the most valuable coins in the set, the $3 piece is usually the last one needed or added."

Later, Garrett and Guth quote Q. David Bowers, who suggests that while "It could have been that the owner of a $3 piece could have purchased a sheet of 100 three-cent stamps without requiring change, or could go to a bank and easily obtain 100 silver trimes," any such theory is "a stretch in reasoning."
Meanwhile, the logic for numismatists is clear: The coins exist, so they can be collected! A coin such as this Premium Gem is a notable prize, coming from the highest-mintage year of issue, which also happened to be its debut (a clear sign, echoed in the two cent piece and three cent nickel, that a denomination either rapidly became obsolete or was unnecessary in the first place). Smooth surfaces sport swirling yellow-orange luster, and the sharply struck devices are as carefully preserved as the fields. Each side borders on faultlessness to the unaided eye. Census: 7 in 66, 1 finer (4/10).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 25M3, PCGS# 7969, GSID# 8627)

Metal: 90% Gold, 10% Copper
Weight: 5.02 grams
AGW: 0.14511oz
Melt Value: $169.34
Gold Spot: $1,167/oz (04-29-2010)
Mintage: 138,600

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