Goldberg Coins and Collectibles

Sale 37

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Lot 1110

1877 Nickel Three Cents. PCGS graded Proof 66. A splendid, basically untoned coin. Sleek nickel white in color seesaws with an occasional hint of color. The nickel Three-cent piece was introduced in 1865, and was useful to commerce during its initial years because silver coins were hoarded, driven from circulation by paper money without specie backing - the classic reaction by the public known as Gresham's Law. Although millions of pieces were struck the first few years, interest waned and by the middle 1870s, production had declined. Virtually immaculate examples, such as the present piece, are of the highest rarity. Proofs-only were struck in 1877 and 1878. Only 510 proofs minted. Pop 49; 3 finer in 67 (PCGS # 3773) .
Estimated Value $3,000 - 3,300.
The Greenhill Collection.

Realized $3,680

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