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    Description

    Remarkable Superb Gem 1878 Three Dollar Gold

    1878 $3 MS67 NGC. The mintage of the 1878 three dollar gold piece is, at least in part, related to the Specie Resumption Act of January 1875. This Congressional act provided, among other things:

    1. That the U.S. Treasury be prepared to resume the redemption of legal tender notes in specie (gold) as of January 1, 1879; and

    2. That gradual steps be taken to reduce the number of greenbacks in circulation (millions of greenbacks were issued during the Civil War, and maintained their value only through trust in the government).

    David Bowers and Douglas Winter, in their book The United States $3 Gold Pieces, 1854-1889, write:

    "To provide for this, in 1878, as the time approached, it was only logical to build up a stock of such pieces, including smaller denominations for public convenience. Following this logic, the mintage of $3 coins reached 82,304 pieces (circulation strikes), the highest total since the denomination was instituted in 1854."

    Today, the 1878 is the most plentiful of all dates in Mint State. Indeed, NGC and PCGS have certified approximately 6,000 examples in Uncirculated grades! The population begins to fall off in MS65 and MS66, and only 22 coins reach the lofty grade level of MS67.
    This Superb Gem displays a delicate blend of yellow-gold, mint-green, apricot, and lilac patina covering surfaces that are awash in dazzling luster. While the typical 1878 is lightly struck (Bowers and Winter, p. 142), an exacting strike leaves crisp definition on the design features, including the hair, bonnet, and lower wreath; areas that are usually weak. Impeccable preservation complements these attributes, engendering captivating eye appeal. Census: 16 in 67, 0 finer (6/09).(Registry values: N7079) (NGC ID# 25MZ, PCGS# 8000)

    Weight: 5.02 grams

    Metal: 90% Gold, 10% Copper


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

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    Auction Dates
    July, 2009
    9th-13th Thursday-Monday
    Bids + Registered Phone Bidders: 8
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