Lot 2050
1867. NGC graded Proof 60 Cameo. Lightly toned. Only 50 minted. The elusive 1867 Three-Dollar gold piece has a limited mintage in both business strike and Proof formats. Federal records report that just 2,600 pieces were delivered for circulation, alongside only 50 specimens for sale to collectors. Survivors of the latter delivery are believed to number no more than 20 pieces, at least three of which are impaired per current PCGS and NGC population data.
Every bit the original look, this naturally toned Proof is awash in orange-gold shades that retain the mirror-finish fields when turned away from a light. The devices stand out with not only a well-contrasted satin texture, but also pleasingly sharp striking detail. Only a few handling marks are seen. Pop 1; 6 finer, 1 in 62, 1 in 63, 1 in 64, 2 in 66, 1 in 67 (PCGS # 88030) .
Historic Account: The $3 denomination was designed by James B. Longacre, who became chief engraver at the Mint in 1844, after the death of Christian Gobrecht. The obverse features the head of Liberty decked out as an Indian princess, facing left, wearing a decorative feathered headdress upon which is a band inscribed LIBERTY. The inscription UNITED STATES OF AMERICA surrounds. (The same motif was later used on the Type III gold dollar 1856-1889.)
The reverse displays an "agricultural wreath" enclosing 3 DOLLARS and the date. The reverse wreath was later used on the Flying Eagle cents of 1856-1858. As is demonstrated, Longacre often replicated his own work.
The $3 design was continued without major change from beginning to the end, except that issues of the year 1854 alone have the word DOLLARS in smaller letters than do the pieces from 1855 to 1889. A trickle of Proofs were issued to collectors beginning in 1858. Between 1879 and 1889, the number of Proofs sold increased somewhat due to speculative interest at the time.
Estimated Value $8,000 - 9,000.
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| Realized $10,350 |
