Goldberg Coins and Collectibles

Sale 13

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

Nickel Three Cent Pieces

Lot	Photo	Description	Realized
Lot 166		1865 Nickel Three Cents. PCGS graded Proof 64. This is the first coin from the set purchased by Dr. Benson on March 8, 1944 from the famous Philadelphia dealer, Ira S. Reed. Beautiful mint frost on the devices contrasts well with the dark mirror fields. Faintly bluish in color, and we note a scattering of tiny specks on both sides, and one tiny tick on the left I of the denomination. Examination will note faint hairlines, mostly on the reverse central fields. One of 400 or so struck, most show the double date to the left, as seen here. During the Civil War, silver coins had virtually disappeared from circulation. History shows how Joseph Wharton, a nickel mine owner, exerted considerable political influence to require United States coinage (1856 on) to include his nickel to coin copper-nickel cents. Nickel had been a metallic curiosity up to that time, and had earned the nickname "Kupfer-Nickel" or Devil's copper, as it was so hard it required the very fires of hell even to melt! (Breen). Nevertheless, Wharton had a virtual monopoly on all nickel mined in the Western Hemisphere, and he needed some place to sell it. The Mint provided the perfect source, and Wharton's political allies kept the nickel projects alive. In time, the huge quantities of nickel needed by the Mint to make cent planchets had exhausted all of Wharton's mines, including the newly opened Canadian mines. With the demand for small coinage very high, the last thing Mint Director James Pollock needed was a shortage of the required alloy for cents! Pollock was a bitter opponent of using nickel for coinage, and seized upon the opportunity to urge passage of a bill to abolish nickel cents and authorize the issue of minor coins (1¢, 2¢ and 3¢) in French bronze, which contained none of the dreaded and hard to work with nickel. This bill became law on April 22, 1864 over powerful opposition from Wharton's friends in Congress--minus the reference to 3¢ pieces. Thus French bronze was employed to coin Indian Cents and Two Cent Pieces starting in mid 1864 and Mint Director Pollock had a temporary victory. How the 3¢ coin came about is a delightful tale. The 3¢ denomination might seem curious today, but at the time there were millions of unpopular fractional currency bills in circulation, the most prevalent was the 3¢ note. These notes were dirty, tattered and disliked by everyone. Seizing upon opportunity, Wharton had his congressional friends propose a 3¢ nickel coin to replace the hated fractional currency notes, which would be convenient for purchasing stamps, which were 3¢ each. The universal hatred of fractional currency notes was so great, that any solution to replace them was welcome. The proposed bill was passed the same day it was presented to Congress, March 3, 1865. Wharton was back in business, and the Philadelphia Mint was now required to buy Wharton's nickel as fast as it could be mined, refined and shipped. During 1865, over 11 million 3¢ nickels were coined, and nearly as many 3¢ fractional notes were replaced from circulation, much to everyone's joy. A year later, the precedent of using nickel for 3¢ coins was promoted and a similar bill was passed forcing the coinage of 5¢ nickel coins to replace the similarly hated 5¢ fractional currency notes. Silver half dimes had disappeared from circulation along with all gold and silver coins. Curiously, to this day we are still using nickel for coinage, despite nickel being extremely hard to work with, and nearly as hard as the dies required to coin it. Many dies on Three Cent nickels and Shield nickels show extensive cracks and breaks. Perhaps Wharton's descendants are still exerting their influence on Congress and the mints, to keep the nickel flowing. Estimated Value $1,500 - 1,700. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details and enlarged photos	Realized $1,955
Lot 167		1866 Nickel Three Cents. PCGS graded Proof 64. Hazy nickel toning and a scattering of tiny dark specks on both sides. Minor hairlines on the reverse. Delicate toning, and highly original. 725 proofs were struck, and most are not as nice as this coin. Estimated Value $400 - 450. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $834
Lot 168		1867 Nickel Three Cents. PCGS graded Proof 64. Choice for the grade assigned, this one has excellent surfaces that show none of the usual spots on the obverse, where we note some colorful yellow toning, and the reverse is similar, with hazy nickel tones and minor hairlines. High end for the grade. Estimated Value $400 - 450. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $920
Lot 169		1868 Nickel Three Cents. PCGS graded Proof 64. Lightly toned with blues and gold on both sides, and quite well preserved. We note a minor disturbance above MERICA, and the surfaces show no problem spots. Perfectly struck throughout. Estimated Value $400 - 450. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $978
Lot 170		1869 Nickel Three Cents. PCGS graded Proof 64. Lovely mint frost on the devices, with some minor toned areas near Liberty's ear. As seen on the other coins from this set, there are minor hairlines on the reverse. Nearly free of fly specks. Estimated Value $325 - 350. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $391
Lot 171		1870 Nickel Three Cents. PCGS graded Proof 64. Sharply impressed and well preserved, with a whisper of toning over the mirror fields. Trivial hairlines and a couple of specks from perfection. Estimated Value $325 - 350. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $1,150
Lot 172		1871 Nickel Three Cents. PCGS graded Proof 64. Fresh and original, with a light covering of nickel haze and some microscopic dark specks, mostly on the reverse. 960 were struck in proof, and this is a nice collector coin. Estimated Value $325 - 350. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $414
Lot 173		1872 Nickel Three Cents. PCGS graded Proof 64. This coin is better than one would expect for the grade. The surfaces are mostly untoned, with mint fresh frost on the devices, and clean mirror fields surrounding. Well struck on all but the right center of the left I in the denomination, which shows characteristic weakness. Microscopic specks on both sides. Estimated Value $275 - 325. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $661
Lot 174		1873 Nickel Three Cents. Closed 3. PCGS graded Proof 64. Bright and reflective throughout, with clean surfaces and fields. Examination will find the usual trivial fly specks, but they are quite small and do not detract. Estimated Value $275 - 325. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $391
Lot 175		1874 Nickel Three Cents. PCGS graded Proof 65. Splendid gem surfaces throughout, free of toning or signs of handling and further, no troublesome spots are present. Scarcer than usual, mintages stopped at 700 pieces, and a difficult date to locate in higher grades than this beauty. Estimated Value $600 - 700. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $719
Lot 176		1875 Nickel Three Cents. PCGS graded Proof 64. This one is bright and free of toning or spots. Problem-free surfaces and quite lovely in every way. Note the small projection on the lower part of Liberty's neck, this may be the tip of the serif of the 1 in the date, or some other engraving slip or signature on the die. Listed in the Cherrypicker's Guide as FS# 3¢N - 006.5. No doubt scarce in this grade. Estimated Value $300 - 400. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $863
Lot 177		1876 Nickel Three Cents. PCGS graded Proof 64. Mostly white, with just a hint of a fingerprint on the devices. No signs of contact or handling, and this coin should grade higher. Estimated Value $275 - 325. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $633
Lot 178		1877 Nickel Three Cents. PCGS graded Proof 65. This appears to be the overdate, 1877 over 6, note the diagnostic repunched base of the 1 and traces of 6 left of the final 7 in the date. Well contrasted between the frosty devices and mirror fields. Microscopic examination will note the usual haze and tiny specks on each side. As a date, this is the key to the series as only 510 (or perhaps a few more) were struck, all in Proof, and none were made for general circulation. In gem condition, this is certainly in the top half of the survivors, and will please any date collector who demands quality and value for their collecting dollar. Estimated Value $1,500 - 1,800. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details and enlarged photos	Realized $1,955
Lot 179		1878 Nickel Three Cents. PCGS graded Proof 64. Gleaming silver-white in color and well struck throughout. This one has the usual trace specks and is top notch for the grade assigned. Estimated Value $400 - 450. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $460
Lot 180		1879 Nickel Three Cents. PCGS graded Proof 64. Mintages ballooned upwards as demand from collectors increased for proof coins, while the opposite was happening with coins struck for circulation. During 1879, all the mints were primarily focused on producing as many Morgan silver dollars as they could, and hence all other coinage was secondary in production. This one has a few hairlines and is basically untoned save for a couple of minute specks. Estimated Value $250 - 300. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $253
Lot 181		1879 Nickel Three Cents. PCGS graded MS-66. This stunning gem was purchased many years ago by Dr. Benson, and held in pristine conditions since the day it was coined. Note the mint-fresh luster and boldly struck devices. Scarcely a mark to be found, even under the scrutiny of a strong glass! Further, this is a low mintage date, with 38,000 coined for circulation, and most of those circulated or lost long ago. In this grade, PCGS has only graded 24 this high, with just 6 graded higher in mint state. A coin for the specialist who demands the best. Estimated Value $600 - 700. Purchased from Ira S. Reed, February 26, 1944 for $1.50 and held in the Benson Collection since that time. View details and enlarged photos	Realized $1,208
Lot 182		1880 Nickel Three Cents. PCGS graded Proof 64. Nearly gem quality on this excellent specimen, a few trivial specks (all tiny), and lovely mint color throughout. An impressive piece for the collector. Estimated Value $250 - 300. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $288
Lot 183		1881 Nickel Three Cents. PCGS graded Proof 64. This is the last big gasp for mintages of this curious coin, with a total of 1,080,575 struck. Bright and untoned, with just a whisper of specks on either side. Clean surfaces for the moderate grade. Estimated Value $250 - 300. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $311
Lot 184		1882 Nickel Three Cents. PCGS graded Proof 65. Awash in mint frost on the devices, and silvery-white in color. There are microscopic traces of specks, but nothing to detract from this gem specimen. We note that the 2 has evidence of something beneath it, as discovered by Lester Merkin about 1965. Estimated Value $325 - 375. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $357
Lot 185		1883 Nickel Three Cents. PCGS graded Proof 64. Another near gem that has faint specks, and light original haze on both sides. Well struck by the coining press, and without any problems whatsoever. Estimated Value $250 - 300. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $299
Lot 186		1884 Nickel Three Cents. PCGS graded Proof 65. One of the low mintage dates, with little demand from the public the three cent nickel production limped along for a few more years. This gem proof will delight collectors for its flashy surfaces, mirror fields and excellent color. Estimated Value $400 - 450. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $391
Lot 187		1885 Nickel Three Cents. PCGS graded Proof 64. This one has nice color and surfaces, but there is a minor lamination patch at the top of the obverse. Clean surfaces and good color throughout, with trivial specks to note the passage of time. Estimated Value $275 - 325. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $322
Lot 188		1886 Nickel Three Cents. PCGS graded Proof 66. Perfectly struck on a select planchet, and without the usual specks or other detractions. As perfect as one could hope to obtain. Estimated Value $475 - 525. View details	Realized $690
Lot 189		1886 Nickel Three Cents. PCGS graded Proof 64. A proof only date, with none issued for general circulation. This one is bright white, with microscopic flecks on both sides and a hint of haze, mostly on the reverse. Estimated Value $250 - 300. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $299
Lot 190		1887 Nickel Three Cents. PCGS graded Proof 64. This one has some nickel blue in color, and the usual trivial fly specks. Well struck and preserved for the grade. Estimated Value $250 - 300. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $633
Lot 191		1887/6 Nickel Three Cents. PCGS graded Proof 64. One of the early die state pieces that shows the overdate fairly strong. With the advantage of Population Reports, we now know that the overdate represents about one-half of the issue for the year. This one has faint haze and minor specks on both sides from long storage in a National Pages album. Estimated Value $350 - 400. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $460
Lot 192		1888 Nickel Three Cents. PCGS graded Proof 66. A brilliant spot free gem proof specimen. Estimated Value $500 - 550. View details	Realized $690
Lot 193		1888 Nickel Three Cents. PCGS graded Proof 65. One of the nicest coins from this complete set, with lovely color and surfaces throughout and light haze in the toning department. Well struck and a gem in every regard. Estimated Value $325 - 375. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details and enlarged photos	Realized $414
Lot 194		1889 Nickel Three Cents. PCGS graded Proof 64. The final year of issue, as this denomination was put out to pasture. Nice color and clean surfaces, with moderate fly specks on both sides. Nearly a gem, and should delight most collectors. Estimated Value $250 - 300. From the Benson Collection and purchased from Ira S. Reed, March 8, 1944 as part of a complete set from 1865 to 1889 for $230. View details	Realized $299