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    Description

    1879 Three Dollar Gold, MS65
    Popular Low-Mintage Issue

    1879 $3 MS65 PCGS. The three dollar gold piece was never a popular issue and the Philadelphia Mint struck only token quantities of this denomination from 1879 until it was cancelled ten years later. Only 3,000 circulation strikes were produced in 1879, all delivered on December 20, and many of these were subsequently destroyed after the close of the year. In lot 422 of the Thompson and Ely Collections (Henry Chapman, 5/1915), the cataloger noted:

    "1879 Uncirculated. Mint lustre. Only 3,030 coined, and about 2,000 or more of these were melted at the mint."



    Chapman's mintage figures included the 30 proofs struck earlier in the year. Fortunately for present-day collectors, a number of high-grade specimens escaped the ravages of circulation, probably initially stored in bank vaults because there was little demand for them in the channels of commerce. When the denomination was discontinued in 1889, the three dollar coins suddenly became popular with collectors and contemporary numismatists began preserving nice examples for future generations.

    The present coin is a delightful Gem, with well-preserved yellow-gold surfaces that radiate satiny mint luster on both sides and show attractive orange highlights. The design elements are sharply detailed and eye appeal is quite strong. Population: 41 in 65, 7 finer (1/16).(Registry values: N4719) (NGC ID# 25N2, PCGS# 8001)

    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
    March, 2016
    3rd-6th Thursday-Sunday
    Bids + Registered Phone Bidders: 14
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