Lot 1751
1856-S. PCGS graded MS-61. Light golden toning. A delightful Mint State coin with light golden luster almost covering the surface with its frosty originality. Similar to the 1855-S, the 1856-S is seldom seen in Mint condition, although it is available in lower grades without too much effort. The present coin is quite special.
The production of the 1856-S $3 pieces was much more generous than the output of the preceding year, and some 34,500 were struck. Varieties exist with different sizes of mintmarks. Pop 3; 8 finer, 2 in 62, 3 in 63, 3 in 64 (PCGS # 7975) .
An account of this denomination: Walter Breen in his encyclopedia gives a learned description of the origin (and later extinction) of this odd-sounding denomination: "The usual story has it that $3 gold coins were made only so long as the letter rate remained 3¢, being discontinued when it was changed again, and perhaps in part because of the letter rate change. Whether or not this was the intention of Congress, nevertheless $3's saw little postal use in the West and South, as they were minted in Dahlonega and New Orleans only in 1854, and in San Francisco for circulation only 1855-57 and 1860. Three's thus represent relics of an interesting but abortive experiment: today they are among the most highly coveted of American gold coins. No specific reason was advanced for their discontinuance, though low mintages 1879-89 (testifying to little public demand) may have had something to do with it."
Estimated Value $12,000 - 13,000.
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| Realized $13,513 |
