1870-S $3 SP50 -- 893 Engraved -- PCGS. Unique....

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1870-S Three Dollar Gold, SP50
Legendary San Francisco Mint Rarity
Only Available Example
Ex: Woodin-'Colonel' Green-Eliasberg-Bass

1870-S $3 SP50 -- 893 Engraved -- PCGS. Unique. Ex: Harry W. Bass, Jr. Collection. The 1870-S three dollar gold piece is among the rarest and most enigmatic coins in the U.S. federal series. Only a single example of this classic numismatic rarity is known to collectors, though reliable reports indicate a second specimen may reside in a ceremonial casket that was placed under the cornerstone of the Second San Francisco Mint in 1870. Of course, the cornerstone example is clearly out of reach of present day numismatists, making the coin offered here essentially unique. It is common practice for catalogers to compare ultra-rare coins they describe to other established numismatic rarities, ones that potential bidders can easily recognize and appreciate, like the 1804 dollar, or the 1913 Liberty nickel. That tactic seems inadequate in the case of the 1870-S three dollar gold piece, which is 15 times rarer than the 1804 dollar and five times rarer than the 1913 Liberty nickel. Q. David Bowers once compared owning the 1870-S to owning the Mona Lisa, perhaps a more meaningful comparison. Both are unique and, to the collectors who understand and appreciate them, both are priceless. Heritage Auctions is privileged to present this unique numismatic treasure in just its third auction appearance.

The Mysterious 1870-S Rarities
For collectors, the coinage of certain calendar years carries a special cachet, because of the famous numismatic rarities that bear that particular date. Any numismatist can enthusiastically expound on the merits of the coinage of 1804 and 1875, for example. For branch mint enthusiasts, the coinage of the San Francisco Mint in 1870 is in a class of its own. Despite the fact that there is no mention of any 1870-S half dimes, quarters, silver dollars, or three dollar gold pieces in the Mint Director's annual report for 1870, recent research by Nancy Oliver and Richard Kelly confirms that examples of those denominations were struck, and even casual collectors know they are all fabulous rarities.

In an article in the April 12, 2004 issue of Coin World, Oliver and Kelly describe an exhaustive search of official San Francisco Mint records at San Bruno, California, and the National Archives in College Park, Maryland, which culminated in an exciting discovery. Located in Records Group 104, they found a purchase warrant, dated June 1, 1870, for $49.60, which included a 12.5 % premium for exchanging precious-metal coinage with currency. The warrant contained an itemized list of coins purchased: one coin of each of the gold and silver denominations struck by the U.S. Mint in 1870, including the four denominations not listed in the Mint Report. The warrant was signed by Clerk W.F. Tracy and verified by San Francisco Mint Chief Coiner Joseph B. Harmstead. The coins were produced in conjunction with the official ceremony celebrating the laying of the cornerstone of the Second San Francisco Mint and were to be placed in a time capsule with other selected items in a cavity in the foundation below the cornerstone.

The warrant clearly establishes that at least one coin of each of the gold and silver denominations was legitimately struck at the San Francisco Mint in 1870. However, coins of the four denominations that were not struck for mass circulation should not exist outside the cornerstone casket, which should still be ensconced in the foundation of the Mint building. Nevertheless, several "duplicate" specimens of the cornerstone coins have surfaced over the years. A single example of the 1870-S three dollar gold piece (the coin offered here) has been known to the numismatic community since 1907, and a single 1870-S half dime surfaced under mysterious circumstances in 1978. Nine examples of the 1870-S Seated Liberty silver dollar can be confirmed today, but no specimen of the 1870-S Seated Liberty quarter has ever come to light. Several theories have been proposed to explain the existence of the "duplicate" three dollar gold piece, silver dollars, and half dime, but none of them are universally accepted. These coins' creation is a mystery that has puzzled numismatists for more than 150 years.

The San Francisco Mint in 1870
The San Francisco Mint was authorized on July 3, 1852 and began coinage operations in 1854. The facility was located in the building formerly owned by the private coinage firm of Curtis, Perry, and Ward, at 608 Commercial Street. Thanks to its proximity to the flourishing California gold fields, the new branch mint struck a prodigious amount of coinage in its early years, and the old Curtis, Perry, and Ward facility was clearly inadequate to the task. The building was too small and not properly ventilated, resulting in cramped work spaces filled with noxious fumes. Despite the handicaps, the staff succeeded in turning out a tremendous volume of coinage, but it was obvious that a new facility was needed.

Accordingly, work began on a grand new building in 1869. The new edifice was located at the corner of Fifth and Mission Streets and designed by noted architect Alfred B. Mullett. The new building was constructed in a conservative Greek Revival style, with two stories, a portico supported by Doric columns, a basement, and an open central courtyard that included a well. The building was based on a solid concrete and granite foundation and the walls were up to five feet thick, faced with blocks of granite and sandstone. The interior included marble floors and fireplaces, carved wood panels, and opulent furnishings. It was the largest mint in the world at that time, and its solid construction enabled it to survive the disastrous earthquake and fire that leveled most of the city in 1906. The building claims a special place in numismatic history, as its construction was directly responsible for the creation of several fabulous rarities, including the 1870-S three dollar gold piece.

The Cornerstone Celebration
The cornerstone of the new branch mint was laid in an elaborate ceremony on May 25, 1870. The celebration was conducted by several Masonic lodges from the region, following the established traditions of their order. The festivities included a grand procession composed of military bands and several hundred Masonic dignitaries in full regalia who marched from the Masonic Temple to the construction site. Seats and bleachers had been erected at the northeast corner of the building to accommodate 3,000 spectators, but the Daily Alta California newspaper estimated a huge crowd of 6,000 local citizens had assembled by the time the procession reached the site. San Francisco Mint Supervisor O.H. La Grange addressed the crowd and invited Grand Master Leonidas E. Pratt to lay the cornerstone. Pratt responded:

"Brother Senior Grand Warden: It has been the custom among the Fraternity of Free and Accepted Masons, from time immemorial, to assemble for the purpose of laying the foundation stones of public buildings, when required so to do by those having authority. The Grand Lodge of the State of California having been invited by the Superintendent of Construction of this edifice to lay the cornerstone thereof, has, by my order, been here convened, and it is my will and pleasure that it do now assist me in the performance of that pleasing duty."

Pratt proceeded with the ceremony, noting:

"Brother Grand Treasurer: it has ever been the custom of the Craft upon occasions like the present, to deposit within a cavity in the stone placed at the northeast corner of the edifice, certain memorials of the period at which it was erected; so that if, in the lapse of ages, the fury of the elements, the violence of man, or the slow but certain ravages of time, should lay bare its foundations, an enduring record may be found by succeeding generations, to bear testimony to the untiring, unending industry of the Free and Accepted Masons. Has such a deposit now been prepared?"

Grand Treasurer James Laidley replied:

"It has, Most Worshipful Grand Master, and the various articles of which it is composed are safely enclosed within the casket now before you."

The contents of the casket were then read, which consisted of many official documents, including the Annual Report of the Director of the Mint from the previous year, the City Directory and San Francisco Almanac, maps and photographs of the city, and "one of each denomination of the several coins of the United States of America, all struck off at the San Francisco Branch Mint in the year 1870."

Grand Master Pratt then directed:

"Brother Grand Treasurer: You will now deposit the casket in the cavity beneath the cornerstone; and may the Great Architect of the Universe, in His wisdom, grant that ages upon ages shall pass away ere it again be seen of men."

This account, which was published in the Daily Alta California newspaper on May 26, 1870, corroborates the striking of the cornerstone coins, as spelled out in the warrant found by Oliver and Kelly, but adds no information about the "duplicate" coins.

Striking the Coins for the Cornerstone Celebration
The Philadelphia Mint shipped the following dies for 1870 coinage to San Francisco on December 15, 1869:

Ten obverse and six reverse dies for double eagles.
Four obverse and reverse dies for eagles.
Four obverse and reverse dies for half eagles.
Four obverse and reverse dies for quarter eagles.
Two reverse dies for three dollar gold pieces.
Two reverse dies for gold dollars.
Six obverse and reverse dies for half dollars.
Six obverse and reverse dies for dimes.
Six obverse and reverse dies for half dimes.

In addition, the San Francisco Mint received six pairs of dies for striking quarters on January 14, 1870. Since the one dollar and three dollar gold coins had the date punched on the reverse dies, which were included in the December shipment, and there were presumably some serviceable obverse dies from previous years on hand at the San Francisco Mint, the facility should have had all the dies needed to strike the cornerstone coins by January 14, except for the Seated Liberty silver dollar. Mint records indicate six reverse dies for the silver dollar had been sent to the San Francisco Mint in 1866, and no silver dollars had been struck at that facility since. Presumably, these reverse dies were still undamaged and available in 1870. Ingenious research by Oliver and Kelly, John Dannreuther, and Dick Osburn established that the obverse die used to strike the 1870-S silver dollars was borrowed from the Carson City Mint for the occasion. It was the same obverse die used previously to strike the OC-1 variety of the 1870-CC Seated Liberty dollar.

Unfortunately, many unforeseen difficulties arose when the time came to strike the coins. The Philadelphia Mint had neglected to punch the mintmarks on the reverse dies for the one dollar and three dollar gold coins, a fact that went unnoticed until the cornerstone ceremony was imminent. On May 14, 1870, just 11 days before the cornerstone was laid, San Francisco Mint Superintendent O.H. LaGrange sent the following telegram to Mint Director James Pollock in Philadelphia:

"Letter S omitted on the One and Three Dollar Dies sent to this branch for this year. 2,000 pieces coined. Can they be issued?"

It is not clear if the 2,000 coins mentioned were one dollar or three dollar pieces, or a mix of both denominations, but most present day numismatists believe they were gold dollars. In any case, Pollock ruled against their release in his response, sent the same day:

"Not issue, but recoin the pieces. Will send dies."

Pollock followed up with two telegrams on May 16:

"Please return to me by express, the dies for the San Francisco coinage, from which the letter 'S' was omitted."

Followed by:

"Enclosed please find receipt of the Adams Express Company for a package for one sett of Dies for three-dollar pieces, and two setts ditto for one dollar pieces to replace the dies specified in your telegram of the 13th inst, from which the letter 'S' had been omitted. Not being able to determine whether the defective one-dollar dies were for Gold or Silver coin, I have sent one sett of each. Please advise me of their safe arrival."

The exact date the replacement dies arrived in San Francisco is unknown, but the typical time for a cross-country shipment on the newly completed transcontinental railroad was about a week, so the dies could have arrived as early as May 23. This would have been in time to strike coins for the cornerstone celebration, but it seems that LaGrange and Harmstead were afraid they would be too late and jumped the gun on striking the three dollar piece for the ceremony. At some point, Harmstead hand-engraved the S mintmark into one of the 1870 reverse dies that had been sent in December and used it to strike the cornerstone piece. Apparently, the dies arrived before he had a chance to repeat the procedure with the gold dollar die, so he struck that piece for the cornerstone casket using the newly arrived dies.

Alternatively, Oliver and Kelly note it is possible that the Philadelphia Mint inexplicably repeated their original mistake and sent two more three dollar reverse dies without mintmarks. Then, Harmstead had to hurriedly engrave the S on the new die and strike the coin immediately before the ceremony.

On May 27, two days after the cornerstone ceremony, LaGrange wrote to Pollock:

"I enclose herewith the receipt of Wells Fargo & Co. for one dollar and three dollar dies which were yesterday forwarded to you at Philadelphia. It is proper to state that our coiner [J.B. Harmstead] cut the letter S on the three dollar die after it was received here for the purpose of stamping a single piece to be put in the casket of the cornerstone of our new mint building. Only one piece was struck under my direction for the purpose above stated."

Pollock replied on June 2:

"Your letter dated 27th of May has been received together with the returned dies. The special use made of one of them in a single instance, was very proper and unobjectionable, under the circumstances."

Many collectors believe the coins for the cornerstone celebration were specially struck for the occasion as part of the festivities, but there is no evidence to support this. The Daily Alta California account of the proceedings specifically mentions the coins being placed in the casket, but says nothing about their striking. Of course, the half dime, quarter, silver dollar, and three dollar gold piece must have been produced specifically for the ceremony, as there was no regular coinage of those denominations at the San Francisco Mint that year. There is some evidence that about a dozen 1870-S silver dollars were struck as presentation pieces, possibly for the Masonic dignitaries that attended the cornerstone ceremony, in addition to the one included in the casket. The dime, gold dollar, quarter eagle, half eagle, eagle, and double eagle that were placed in the cornerstone were probably just selected from the regular-issue stock of coins on hand at the Mint, sometime before the ceremony took place.

It also seems unlikely that any of the coins were specially struck. All the surviving silver dollars are circulation-strike examples. The only known 1870-S half dime is graded MS64 by PCGS and shows no sign of being struck in proof format. The sole 1870-S three dollar gold piece is listed in John Dannreuther's reference on proof gold coins, but he makes it clear in the writeup that it is impossible to tell what format the coin was struck in, due to light wear and its use in jewelry. There is also no mention of a proofing charge on the warrant for the cornerstone coins. All evidence suggests no proofs were struck, but PCGS does classify the three dollar gold piece as a Specimen, or Special Strike, per PCGS CoinFacts.

Theories About the "Extra" 1870-S Half Dime and Three Dollar Gold Piece
For many years, numismatists have theorized that Chief Coiner Joseph B. Harmstead must have clandestinely struck a second example of the 1870-S three dollar gold piece, since the present coin first surfaced in 1907, wrapped in a note from him that claimed the piece was a duplicate of the coin in the cornerstone cache. Alternatively, some have suggested that the coin offered here actually is the cornerstone specimen, with Harmstead stealing it (and the half dime) before the box was placed in the cornerstone niche. Against these theories is extensive research by Nancy Oliver and Richard Kelly that reveals Harmstead to have been an honest man, of good character. His later handling of the coin clearly indicates that he had no intention of selling the piece for profit, as he scratched the mysterious numerals 893 on the reverse at an early date. In addition, the coin shows clear signs of being removed from a jewelry mount at 6 o'clock on the obverse. These are not the actions of a man who hoped to maximize his profit from the sale of ill-gotten goods.

A third theory postulates that the half dime and three dollar gold piece were "liberated" from the cornerstone when the building was damaged during the great fire and earthquake of 1906. This seems unlikely, as the Second San Francisco Mint was one of the few surviving buildings in that area, earning it the affectionate sobriquet of the "Granite Lady." Researchers believe they have identified the cornerstone in recent years and it remains intact and essentially undamaged. Furthermore, the three dollar gold piece was mounted as a jewelry piece and had acquired some noticeable wear by the time it surfaced in 1907. It is doubtful that the condition of the coin would have altered so much in less than a year. Finally, no example of the 1870-S Seated Liberty quarter has ever surfaced, and it is hard to believe anyone looting the cornerstone would have overlooked such an obvious rarity.

Recent research by several numismatists suggests a fourth possibility. Mint policy in 1870 required the San Francisco Mint to submit a certain percentage of all coins struck for circulation at that facility to the Assay Commission in Philadelphia every month. Mint records indicate the San Francisco Mint only struck half dollars, gold dollars, and double eagles for circulation in May of 1870. According to a Wells Fargo receipt dated June 7, 1870, a total of 34 double eagles, one gold dollar, and eight half dollars were sent to the Assay Commission to fulfill the assay requirements. However, Chief Coiner J.B. Harmstead may have decided to also strike one extra specimen of the half dime, quarter, silver dollar, and three dollar gold piece when he struck the cornerstone coins to cover possible assay obligations. He may have believed he was obligated to send at least one example of each denomination struck to the Assay Commission, even for a minuscule one-piece production run. Also, he may not have known that no more coins of these denominations would be struck, and a single assay coin would be enough to meet the requirements if a small mintage was produced late in the month. It is worth noting from the receipt that he only needed one gold dollar to meet the assay obligation in May, because of the small mintage of that denomination.

Of course, no coins of these denominations were ever issued for circulation, and he may have adjusted his thinking on the assay coins accordingly. There would be little to gain from testing and confirming the value of coins that would never be used in commerce. In the end, he must have concluded there was no need to submit the coins for testing, and we know from the receipt that none were sent. Respected researcher David McCarthy notes:

"It is imaginable that they struck them based upon the assumption that they would have to send the coins to the Assay Commission eventually, then didn't have to send them, because no examples were ever officially released."

When the extra assay coins were not needed, it seems likely that Harmstead decided to purchase the extra 1870-S three dollar piece as a keepsake, as that coin remained with him, or his family, for many years. He could have acquired it simply by exchanging an equivalent sum in gold coinage for the piece. He may also have saved the 1870-S half dime, in a similar manner, but that coin might have been preserved by another Mint official, as there is no definitive link to Harmstead. It seems unlikely that anyone saved the 1870-S Seated Liberty quarter as a memento, as no example of that issue has ever surfaced. Any unneeded assay coins that were not saved in this fashion were probably melted for recoinage. There is no documentary evidence to confirm any of the theories about the origin of the "duplicate" coins, but this theory seems to follow accepted Mint procedure more closely than the others and coincides well with Harmstead's sterling reputation.

Early History of the Present Coin
The first mention of the 1870-S three dollar gold piece in the numismatic press occurred in 1907, when H.T Van Camp advertised the coin in the April issue of The Numismatist:

"To gold collectors: Here is a coin all alone by itself. $3 gold S mint, 1870. Never in circulation - never before on the market. With the coin is an interesting little history by the coiner who made it."

The "little history" of the coin was given in greater detail when the coin made its first auction appearance in lot 1160 of the William H. Woodin Collection (Thomas Elder, 3/1911). Elder noted that the coin was accompanied by an "indisputable certificate of its genuineness," as it was wrapped in a piece of yellow paper with the following notation:

"This Three Dollar piece is a duplicate of the one under the cornerstone of the San Francisco Mint and the only one in existence. J.B. Harmstead."

Elder also stated that the coin originated with Harmstead's family. Harmstead must have written the note before his death on July 22, 1889.

Oliver and Kelly have made several attempts to trace the coin's history from the time of its striking until it appeared in H.T Van Camp's ad in 1907. At first, they believed the coin had been presented to his married niece, Georgine Marcus (formerly Harmstead), because of an article in the November 3, 1907 edition of the Washington Post. The article mentioned the appearance of the coin in Van Camp's possession earlier in the year and said the coin and the note had been sent to Harmstead's niece.

Further genealogical research, including an examination of Harmstead's will, suggested another provenance for the coin. In their January 2020 article in The Numismatist, Oliver and Kelly postulate that Harmstead had the coin mounted in a necklace for his wife, Francis. She later had a debilitating stroke and went to live with her oldest married daughter, Sarah Fay (formerly Harmstead) in Portland, Oregon. Joseph Harmstead also went to live with Sarah and her husband, Charles Luther Fay, after he retired from the Mint. When Francis died in 1885, Joseph gave the necklace to Sarah. Charles Luther Fay inherited the necklace when Sarah died in 1903. He was an insurance agent by trade and he later moved to Oxford, Maine, where he died in 1906. His son, Charles Ralph Fay, apparently inherited the necklace at that point. Charles Ralph Fay lived in New York City, and he may have known H.T. Van Camp through his father, as Van Camp was also an insurance agent. It is likely that Van Camp was acting as an agent for Charles Ralph Fay when he advertised the coin in The Numismatist in 1907, as William Woodin later claimed he purchased the coin from Harmstead's family. We know that Woodin purchased the coin, which had been removed from the necklace, sometime before 1909, as an entry in the May 1909 issue of The Numismatist described Woodin's collection and specifically mentioned the coin:

"Mr. Woodin possesses the great 1870-S $3 rarity of which two specimens were struck. One of these was placed in the cornerstone of a government building in San Francisco, and the other, through the family of the coiner, finally came into Mr. Woodin's possession."

The History of the Coin After 1907
The provenance of the 1870-S three dollar gold piece is well-documented after Woodin obtained the coin from Van Camp. Woodin, a wealthy industrialist who would become Secretary of the Treasury under President Franklin Roosevelt, sold the bulk of his gold collection through New York coin dealer Thomas Elder in March of 1911. Elder described the coin in a lengthy full-page description as lot 1160 in the catalog. The lot was plated and had a reserve of $1,000. The coin realized $1,450, to S.H. Chapman, a staggering price for any coin at the time.

Chapman was either acting as an agent for Baltimore collector Waldo Newcomer, or sold the coin to him shortly after the sale. Newcomer's inventory of his collection listed the 1870-S as number 1087 and valued it at $2,000. Newcomer sold most of his U.S. federal collection privately through Fort Worth coin dealer B. Max Mehl, circa 1931. Mehl originally intended to sell the collection at auction and advertised it in The Numismatist in the March, 1932 issue. The 1870-S was pictured on the Newcomer plates Mehl had made to document the collection. Unfortunately, Mehl later decided to sell the collection privately, with much of the U.S. gold going to "Colonel" E.H.R. Green. Green held on to his fabulous collection, including the 1870-S, until his death in 1936.

Much of Green's estate was handled by St. Louis coin dealer B.G. Johnson, including the 1870-S three dollar gold piece. Several prominent coin dealers, including Art Kagin and Abe Kosoff offered the coin on consignment to super collector Louis Eliasberg, Sr. in the 1944-1945 time frame, but Eliasberg consistently passed because he thought the price was too high. On September 11, 1945, Ted and Carl Brandts (the Celina Coin Company) purchased the coin from B.G. Johnson for $7,000. The Brandts advertised the 1870-S in The Numismatist in December 1945.

Louis E. Eliasberg was a Baltimore financier who formed the only complete collection of U.S. federal coins by date, mintmark, and major variety. Although he had resisted purchasing the 1870-S earlier, his collecting philosophy had changed by 1946, as he was closer to completing his collection and was willing to stretch for the few coins he still needed. With Stack's acting as agent, he purchased the 1870-S from the Celina Coin Company in January 1946, for the record price of $11,550.

Eliasberg retained his collection until his death in 1976. His coins were exhibited at the Philadelphia Mint in the Bicentennial celebrations that year. His estate offered the U.S. gold portion of the collection in a blockbuster auction conducted by Bowers and Ruddy in October 1982. The 1870-S was featured in lot 296 of the catalog and realized a stupendous price of $687,500, to Stack's, acting as agent for Dallas collector Harry W. Bass, Jr. At the time, this was a record price realized for any U.S. federal coin (the ultra-rare 1822 half eagle in the same sale realized the same amount). The 1870-S three dollar gold piece has not been publicly offered since.

Like many owners of the 1870-S, Harry Bass retained the coin, along with the rest of his collection, until his death. He served as President of the American Numismatic Society and formed a comprehensive numismatic library to study his collection. He was influential in making the ANS Library available online. He exhibited his collection at the Coinage of the Americas Conference, on November 4-5, 1989. After his passing in 1998, much of the collection was sold in a series of important auctions through Bowers and Merena. However, the most important portions of the collection were retained in the Harry Bass Core Collection, which was owned by the Harry W. Bass, Jr. Foundation, a charitable organization that supports other organizations in the areas of education, human services, science and research, and arts and culture. The Core Collection was exhibited at the Edward C. Rochette Money Museum, at ANA Headquarters in Colorado Springs from 2001-2022. Recently, the Harry W. Bass, Jr. Foundation has decided to deaccession the collection, to better serve the charitable causes they support, resulting in this fantastic opportunity for collectors to obtain many coins that would otherwise never be available, including the 1870-S three dollar gold piece.

Physical Description
This handsome SP50 example shows only light wear on the strongly impressed design elements, with much interior detail remaining intact on Liberty's curls and the ribbon knot. The date is positioned low, with the ribbon bow tip to the right of the 7 in the date. The tall, thin S mintmark, which was hand-engraved into the die, is unlike any other mintmark in the series. Despite an attractive overall presentation, the present coin has a few technical problems that must be acknowledged. The medium yellow-gold surfaces are lightly polished, with a slightly pebbled texture. The coin was evidently mounted in a jewelry setting at one time, as indicated by some slight damage to the obverse rim at 6 o'clock. The numerals 893 are lightly scratched above the wreath on the reverse. Oliver and Kelly note this may represent the fineness of the Feather River gold deposit the coin was struck from. This might be something Harmstead would think worth noting, if he did initially strike this piece for assay purposes.

Of course, as the only available example of this landmark rarity, the technical grade of this coin is of only secondary importance. In all of numismatic history, only four collectors have ever succeeded in compiling a complete collection of three dollar gold pieces (William H. Woodin, Waldo Newcomer, Louis Eliasberg, and Harry Bass). To borrow a quote from George Clooney, "More people have walked on the moon!" This coin is absolutely essential for the completion of that daunting quest. Only one numismatist, Louis Eliasberg, has ever managed to complete a collection of U.S. federal coins. The iron-willed collector that tries to duplicate that astounding feat will find no adequate replacement for this remarkable coin once it crosses the auction block. This coin has been off the market for 40 years, and it would be foolish to think it will become available again during the collecting life of anyone reading this description. This lot truly represents a once-in-a-lifetime opportunity. The 1870-S three dollar gold piece is listed among the 100 Greatest U.S. Coins. This coin is pictured on PCGS CoinFacts. Population: 1 in 50, 0 finer (11/22).
Ex: San Francisco Mint Chief Coiner Joseph B. Harmstead; possibly Francis Harmstead (his wife, mounted in a necklace, per Nancy Oliver and Richard Kelly); Sarah Fay (Francis' oldest daughter, on her mother's death in 1885); Charles Luther Fay (Sarah's husband, on her death in 1903); Charles Ralph Fay (Charles Luther's son, on his father's death in 1906); Harry Terry Van Camp, advertised in The Numismatist in April 1907; private treaty transaction to William H. Woodin; Woodin Collection (Thomas Elder, 3/1911), lot 1160, realized $1,450; S.H. Chapman; Waldo C. Newcomer, inventory number 1087, at $2,000; B. Max Mehl in 1931; "Colonel" E.H.R. Green; Green Estate (1936); St. Louis coin dealer B.G. Johnson; offered on consignment on July 5, 1944 by Hollinbeck Coin Company (Art Kagin) to Louis E. Eliasberg for $8,500, but Eliasberg passed; on consignment to Abe Kosoff in 1945, offered to Eliasberg again, but passed again; Celina Coin Company (Ted and Carl Brandts), purchased from B.G. Johnson on September 11, 1945, for $7,000, paid in two installments (per Saul Teichman), advertised in the December 1945 issue of The Numismatist; sold to Stack's in January 1946, as agent for Eliasberg, who paid $11,550; Louis E. Eliasberg, Sr.; Eliasberg Estate (1976-1982); United States Gold Coin Collection (Bowers and Ruddy, 10/1982), lot 296, realized $687,500 to Stack's, acting as agent for the following; Harry W. Bass, Jr. (HBRF Inventory #18018); Harry Bass Core Collection (HBCC-4024).
From The Harry W. Bass, Jr. Core Collection, Part II.(Registry values: P5)

Coin Index Numbers: (NGC ID# 25MT, PCGS# 7992, Greysheet# 8667)

Weight: 5.02 grams

Metal: 90% Gold, 10% Copper

View Certification Details from PCGS