Lot 704
Gold Three Dollar. 1873. PCGS graded AU-58. Closed 3. A classic rarity in the series with an estimated mintage of a scant 100 coins. PCGS has only graded 5 in various Mint State grades, the best of which is Mint State 62. The entire mintage was obviously placed in circulation, and most did just that, circulate. 1873 was a difficult year, the economy went through a sharp contraction, known as "hard times" then, in the 1930s as a "depression" and now something everyone from school loves, a "recession" which sounds a lot like "recess". Whatever the name, the causes are the same, money supply contracts, and everyone skimps and tries to save money. Not many people could put away a small fortune like a $3 gold coin, so they were spent. Hence virtually all show varying degrees of wear. This coin, however, is a remarkable exception. It somehow was saved, virtually in Mint condition. The devices are boldly struck, with complete details on Liberty and the delicate wreath on the reverse. Prooflike in the fields as were all, as these dies were used to strike a few Proofs that year. Excellent original orange-gold in color and with only a scattering of tick marks mostly in the fields. A rare coin worthy of a choice collection.
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| Realized $11,000 |
