Lot 1053
1875 $3 Gold. NGC graded Proof 64 Cameo. Only 20 struck all in proof. Key date to the $3 series. An important Rarity. Blazing gold Proof. Of all the famous issues in the Three Dollar gold series, only the unique 1870-S tops the Proof-only 1875 for fame and reputation, the 1875 being the first issue from the series to eclipse the $100,000 barrier, well over 30 years ago. The Mint listed its coinage as 20 Proofs, but today we recognize that the figure is slightly understated since the number of pieces known is estimated at above 30 coins. The reddish-golden surfaces exhibit full, watery brilliance and contrast that must be considered minimal, in spite of the "Cameo" designation it received. Wispy hairlines are scattered throughout, the most noticeable located in the fields and virtually absent on the delicate cheek contour. These, however, are both short and relatively unobtrusive.
According to research published by Bowers, "In 1916, Frank G. Duffield, editor of The Numismatist, sought to unravel the mystery surrounding the 1873, 1875, and 1876 $3 pieces, for which Mint reports stated that, respectively, just 25, 20, and 45 pieces had been made, all in Proof finish. And yet, especially for the 1873, it seemed that more were around than officially stated. Readers were invited to contact Duffield with regard to the pieces they owned, but response was negligible, as most numismatists collected in private and did not necessarily want to share their knowledge. Even the better known numismatists of the era who owned such pieces did not answer the challenge. Accordingly, the matter was soon dropped. Pop 3; 1 in 65 Cameo, NGC has graded only 7 in total.
In later years it became apparent that somewhat more than 20 1875 Proofs were struck. Some have suggested that these might be called restrikes but as all are from the same die pair and appear to have essentially the same characteristics and most probably were actually struck in 1875 (but not recorded), the point is moot. Today, the 1875 stands as an icon, a beacon to the $3 series, the particular date to which the eye gravitates when a display is presented."
Estimated Value $80,000 - 100,000.
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| Realized $175,375 |
