Lot 1232
1854-D $3 Gold. PCGS graded MS-61. Well struck and quite lustrous while exhibiting pale olive and golden-orange highlights. Here is an American classic, the 1854-D three-dollar gold piece. Only 1,120 were coined, and most circulated into low grades. It is likely that only a few hundred survive. This date is virtually impossible to obtain in full Mint State. Furthermore, this is clearly one of the Finest Known specimens of the date, certainly in the top six known. Collectors can bid secure in the knowledge that it is original, and have the further assurance of the PCGS approval of a Mint State 61 grade.
The D mintmark is rather large, possibly the same punch was used to on half eagles. The reverse die shows two or more clash marks, with Liberty's head outlined within the reverse wreath. The fields possess frosty luster and the devices are well struck on the obverse and reverse. We note that the upper curl on Liberty's head is a bit weak, as well as the high curl over her ear.
This is the rarest regular issue $3 date, and the most valuable. Only the Proof only 1875 is more costly, aside from the unique 1870-S. We expect spirited bidding when this important rarity, the 1854-D in Mint State 61, crosses the block.
As Congress had passed into law this curious denomination in 1853, dies were prepared for the new denomination for coining in 1854. It was believed that these coins could be used to purchase sheets of stamps, with standard postage being 3¢, logic followed that a $3 coin would be useful in circulation. Philadelphia coined 138,618 in 1854, while New Orleans coined 24,000. Dahlonega, on the other hand, only produced 1,120, and never coined another $3 after this small issue. Most, of course, circulated widely and are found in a variety of lower grades. The denomination limped along through 1889, and was formally retired in 1890. Pop 2; 1 in MS-62. (PCGS # 7970) .
Estimated Value $90,000 - 100,000.
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| Realized $126,500 |
