Goldberg Coins and Collectibles

Sale 13

The Benson Collection of U.S. Coins, Part 2

Silver Three Cent Pieces

Lot	Photo	Description	Realized
Lot 131		1851 Silver Three Cents. PCGS graded MS-64. A pretty example of this first year of issue, the obverse is mostly silvery-gray with flecks of gold around the periphery and iridescent colors mixed in too. Similar on the reverse, with less color and nice, satiny luster. Struck from clashed dies, as are most, and with strong stars on the reverse and just a bit of weakness at the centers. Here we begin the Dr. Benson Collection of Three Cent Silvers. The majority of the coins from his date set were purchased on August 30, 1944 from J. H. Nunn, and east coast coin dealer. We note the date of August 30, 1944 as the last time the coins from this set traded hands. How did this curious denomination come about? Well, it all started because the Post Office was lowering the prepaid rate for a letter to 3¢ from 5¢. Further complications were unfolding in the wildly fluctuating price of gold and silver due to the massive gold inflows from the California creeks and hillsides. The natural effect of all this gold was that its price went down relative to silver, hence silver coins actually were worth more than their face value. People naturally figured this out, and soon all silver coins were hoarded from circulation or melted and sold. Can you imagine the frustration? As soon as the mints would produce silver coins, they would disappear, off to be melted. Naturally, few people gave silver to the mints for coinage, and what little was produced was either hoarded or bought by bullion dealers and melted and sold to the Caribbean Islands or Europe for a sizable profit. Commerce adjusted, as is always does, by using a variety of substitutes for small change. During the early 1850s, a citizen would typically encounter a mix of United States gold coins, Mexican silver, large cents and half cents and "Shinplasters" (which were private or state bank notes and merchant's private scrip of all kinds). The large cents and half cents were extremely unpopular, and if a person went to purchase a 5¢ cigar with a Mexican silver dollar (let alone a gold dollar) being offered 95 large cents as change would have been risking a fight! (Breen's Encyclopedia). Merchants demanded a solution. The Shinplasters were not always backed by their issuer, and soon became filthy rags after limited circulation. The Mexican silver usually had to be weighed by merchants (to make sure of its value) and this slowed even the simplest of transactions from penny candies to whiskey shots. Like the Shinplasters, the large copper cents and half cents soon became dirty and were frowned upon when offered as change. A solution to the crisis was offered by Senator Dickinson, who drafted a bill proposing a 3¢ coin made of 75% silver and 25% copper, which had a melt value then well below its 3¢ face value, which would hopefully eliminate hoarding and make smelting and exporting unprofitable. His bill passed on March 3, 1851, to be effective June 30 of that year. Mint Director Robert Patterson chose the simple design by Longacre, as the low relief would extend die life and require less pressure in coining to strike up the design elements. Large numbers were minted, and they circulated widely, replacing some of the smaller Mexican silver coins and were preferable to Shinplasters or the bulky copper coins of the day. The little silver coins soon became known as "fish scales" for their size and silver reflectivity. By 1853 Congress acted to reduce the silver content in coins from half dimes to half dollars (silver dollars were left out of this adjustment for sentimental reasons) to get the silver value below the face value, and thus allow small silver coins circulate again. Congress also adjusted the silver content of the little 3¢ coin, raising it to 90% in line with other silver coins of the era, and this no doubt eased smelting and refining operations at the mints. To note the change in silver content, Longacre proposed outlining the existing obverse star with two extra outer lines, and placing a small sprig above the denomination and a cluster of arrows below on the reverse, which took place at the beginning of 1854. Additional changes were made in 1859 to improve striking quality, and make the lettering more narrow and further apart, under the influence of Anthony C. Paquet. Naturally, as the 3¢ coin was widely accepted and recognized, a large number of counterfeits surfaced during the Civil War, most of these dated from 1859 to 1862, with 1861 most commonly encountered. These counterfeits were made from a pale gray metal which resembles German Silver (tin, zinc, nickel and copper) and were generally crude in their execution, but apparently good enough to pass easily. This is another fascinating chapter for the advanced numismatist to study. Hence, these little silver coins played a major role in the 1851 economy, and remain popular today with collectors desiring top quality pieces for their sets. Estimated Value $300 - 350. From the Dr. Benson Collection and purchased from Ira S. Reed on February 26, 1944 for $1.50. View details and enlarged photos	Realized $426
Lot 132		1851 Silver Three Cents. PCGS graded MS-64. This coin boasts mottled light yellow toning with darker areas around the periphery of both sides. Vibrant luster beneath, and well struck on the devices. Estimated Value $300 - 350. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details	Realized $633
Lot 133		1851-O Silver Three Cents. PCGS graded MS-63. This is the only branch mint issue of this denomination. 720,000 were coined, and most circulated widely. This one is still very choice, with splendid iridescent toning around the periphery with gold shades predominating. We note two tiny marks on the reverse, one hidden on the star at 10 o'clock, and another near the top (which may be a small planchet flake). As to why this coin doesn't grade higher, we can't figure it out. Take a look for yourself. Estimated Value $300 - 350. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $426
Lot 134		1852 Silver Three Cents. PCGS graded MS-64. A simply delightful example of this date, fresh luster and light toning on both sides, and very well preserved. Few signs of handling visible, even with a 10X loupe. Estimated Value $300 - 350. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $690
Lot 135		1852 Silver Three Cents. PCGS graded MS-62. Dappled toning over lustrous surfaces. We note some minor handling marks visible with a glass. Estimated Value $150 - 175. From the Benson Collection and purchased from Chapman on June 24, 1944 for 50¢. View details	Realized $201
Lot 136		1853 Silver Three Cents. PCGS graded MS-63. Rich gold and green toning on the obverse, more satiny gray on the reverse. Well struck by the dies, and nicely preserved for the moderate grade. If all MS-63 coins looked like this, well, see what you think. Estimated Value $170 - 200. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $334
Lot 137		1853 Silver Three Cents. MS-60. Cleaned, yet still lustrous and silvery gray in color, with a breath of toning on the reverse. Estimated Value $100 - 120. View details	Unsold
Lot 138		1854 Silver Three Cents. PCGS graded AU-55. This one was lightly circulated, and is now wonderfully toned with colorful rings around the obverse, more gray on the reverse. Estimated Value $160 - 190. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details	Realized $265
Lot 139		1855 Silver Three Cents. NGC graded Proof 65. While long trumpeted as a great rarity, more recent studies seem to show around 20 known of this date, of perhaps 50 struck. Proof issues were irregular and not always recorded as such in the pre-1858 days at the Philadelphia Mint. Hence, we can only estimate given the number that have been recorded at auction, and now with the acceptance of third party grading and the population reports. On this particular example, we see well mirrored fields and fully struck devices, with the typical characteristics of an early proof. The stars are sharper than usual, and the devices nicely frosted by the preparation of the dies. One lint mark is noted through the E of UNITED. This particular coin is brilliant, without a touch of toning, just a bit of haze to note the passage of nearly a century and a half. The NGC Population Report shows 4 graded this high, with 6 graded higher, and at PCGS theirs shows 3 graded this high with 2 higher. Always popular with collectors and in strong demand by people forming date sets and type buyers, as few Type II coins are available in gem proof grades. Estimated Value $9,000 - 11,000. View details and enlarged photos	Realized $10,350
Lot 140		1855 Silver Three Cents. NGC graded AU-58. Magnificent old time toning which ranges through the rainbow of colors. A touch of wear. Obviously from an old collection. Estimated Value $125 - 175. View details and enlarged photos	Realized $920
Lot 141		1855 Silver Three Cents. PCGS graded VF-35. Nice surfaces and color for the grade. Estimated Value $60 - 80. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details	Realized $92
Lot 142		1856 Silver Three Cents. PCGS graded AU-58. Delightful, and very colorful, toning on both sides. Estimated Value $125 - 150. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details	Realized $449
Lot 143		1857 Silver Three Cents. PCGS graded MS-63. Vibrant rings of color on both sides, from 56 years of storage in National Pages albums. Clean surfaces for the grade assigned. Estimated Value $500 - 600. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $1,898
Lot 144		1858 Silver Three Cents. PCGS graded Proof 65. A stunning gem that is bluish steel gray in color on the obverse, with pinkish rose hues on the reverse. Note the streaks on the planchet, this is from the rolling mill at that Mint or perhaps the dies were not polished up properly, either way, the lines on the obverse are from the Mint and are obviously not some post minting detriment. PCGS has graded only 15 this high, with 5 graded higher of this date. PCGS further guesses that the mintage was approximately 100 coins in Proof, most of which are in much lower grades. If you demand a gem, then check this one out. Estimated Value $5,000 - 6,000. Purchased by Dr. Benson on March 30, 1946 from Ira S. Reed for $7.75. View details and enlarged photos	Realized $5,750
Lot 145		1858 Silver Three Cents. PCGS graded MS-64. Well struck and frosty with light toning adhering to the periphery on both sides. A choice example for the type 2 design. Estimated Value $1,100 - 1,200. View details and enlarged photos	Realized $1,208
Lot 146		1859 Silver Three Cents. PCGS graded Proof 63. This is certainly one of the prettiest Proof-63 coins you will likely find. The colors range through deep blue at the periphery to vibrant gold at the centers, the reverse has less toning but is also beautiful. We do note minor hairlines in the fields and trivial handling marks which account for the grade. Don't skip over this because of its moderate grade! An opportunity. Estimated Value $350 - 400. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $1,438
Lot 147		1860 Silver Three Cents. PCGS graded AU-58. Awash in deep blue and russet toning on both sides, with minor handling marks visible with a glass. Certainly the nicest AU-58 you are likely to find, perhaps worth a touch more? When the auction hammer falls, the value will be known. Estimated Value $100 - 125. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $552
Lot 148		1861 Silver Three Cents. PCGS graded Proof 64. Gunmetal gray on the obverse, with frosty devices and crisp lettering. On the reverse, the centers are snowy white, while the periphery is a dark gray-blue shade. Faint signs of handling, visible with a glass. Estimated Value $450 - 500. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $604
Lot 149		1862 Silver Three Cents. PCGS graded Proof 64. Deep bluish-black with hints of dark red toning on the obverse, brighter on the reverse, with peripheral toning only. Estimated Value $450 - 500. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $863
Lot 150		1862 Silver Three Cents. PCGS graded MS-66. An exceptional grade for this date, PCGS reports just 73 graded this high, with 7 graded a notch higher. Deep blue and gold toning on both sides and highly appealing. The central strike shows typical weakness. Estimated Value $900 - 1,000. View details and enlarged photos	Realized $1,265
Lot 151		1863 Silver Three Cents. PCGS graded Proof 63. Dark blue to black on the obverse, brighter on the reverse. Minor hairlines and trouble free overall. Estimated Value $350 - 400. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $506
Lot 152		1864 Silver Three Cents. PCGS graded Proof 64. Deep slate gray in color with hints of rose at the centers, and problem free. Minor hairlines from a higher grade. Estimated Value $450 - 500. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $805
Lot 153		1865 Silver Three Cents. PCGS graded Proof 64. Deep blue to black in color, the reverse has lighter red shades at the center. We note some lint marks in the fields on the obverse, as struck. Clean surfaces for the grade. Estimated Value $550 - 650. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $679
Lot 154		1866 Silver Three Cents. PCGS graded Proof 64. Deep gray shades in the fields, lighter on the devices which retain the thick frost from the dies. The reverse has a hint of rose at the center, but is surrounded by the deep gray shades from the National Coin Album which stored this coin and others from the Benson Collection for over 56 years. Estimated Value $450 - 550. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $621
Lot 155		1867 Silver Three Cents. NGC graded Proof 65. Deep red and gold on both sides, with some blue at the rims. Superb surfaces, and well preserved. Estimated Value $1,000 - 1,250. View details and enlarged photos	Realized $1,323
Lot 156		1867 Silver Three Cents. PCGS graded Proof 64. Deep bluish-gray in color, with lighter rose shades at the centers. One tiny speck removed in the lower left obverse field, and minor hairlines are all that otherwise disturbs the surfaces. Truly a nice coin for the grade. Estimated Value $500 - 600. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $633
Lot 157		1868 Silver Three Cents. PCGS graded Proof 64. Deep gray toning, and matching the other Proofs from the Benson Collection. This one has a few trivial scuffs in the fields, and generally exhibits more handling marks than the other coins in this date set, but it is still very nice, nevertheless. Only 600 proofs struck. Estimated Value $450 - 550. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details	Realized $621
Lot 158		1869 Silver Three Cents. PCGS graded Proof 65. A gem from the Benson Collection, and one can see why, the surfaces are pristine and fields are especially watery in appearance. Deep bluish-gray in color, with central rose hues and minimal hairlines. A knock-out coin for the grade. Estimated Value $1,000 - 1,250. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $1,495
Lot 159		1870 Silver Three Cents. NGC graded Proof 63. Mottled blue and gold toning. Estimated Value $250 - 350. View details and enlarged photos	Realized $385
Lot 160		1870 Silver Three Cents. PCGS graded AU-58. Nicely toned, but the surfaces show moderate circulation marks. Estimated Value $350 - 400. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details	Realized $529
Lot 161		1871 Silver Three Cents. PCGS graded Proof 63. Coins don't get much prettier than this, deep blue around the periphery with fiery red at the centers, lighter on the reverse with deep colors at the edge. Clean surfaces for the grade, with the usual tiny handling marks in the fields. Estimated Value $350 - 400. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $1,208
Lot 162		1871 Silver Three Cents. NGC graded MS-66. One for the gem toned coin collector, the obverse is a deep russet with blue at the edges, while the reverse is even more colorful with seductive midnight blues in the fields and three dimensional devices which are satiny gray against their ocean blue backdrop. Superb surfaces and obviously from an old time collection where it was tenderly cared for throughout its life. Estimated Value $1,400 - 1,600. View details and enlarged photos	Realized $1,668
Lot 163		1872 Silver Three Cents. PCGS graded Proof 65. Bright white in color, with good contrast between the mirror fields and frosted devices. A couple of lint marks, one on the 1 in the date and left, another below the E of UNITED. Estimated Value $950 - 1,000. View details and enlarged photos	Realized $1,265
Lot 164		1872 Silver Three Cents. PCGS graded Proof 64. Deep blue toning throughout and with moderate hairlines in the fields. There is a tiny, short lint mark below the first T of STATES. Choice color and perfect for the date specialist. Estimated Value $650 - 750. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $920
Lot 165		1873 Silver Three Cents. PCGS graded Proof 65. Deep blue-gray in color and with clean surfaces. A few minor hairlines, but no other contact worthy of note. The final year of issue of this important coinage, and likely from the Mint's Publicity Agent Andrew Madsen Smith, who is said to have owned over 300 of these. One of just 42 graded this high, with 9 graded higher according to a recent PCGS Population Report. Estimated Value $1,100 - 1,300. From the Benson Collection and purchased from J. H. Nunn on August 30, 1944 as part of a complete set from 1851 to 1873 for $135.00. View details and enlarged photos	Realized $1,323