Lot 1624
1865 Pattern Three Dollars. Nickel, reeded edge. . J-444. . P-515. PCGS graded Proof 60 Rarity 8. Old green holder. Lightly toned. An historic offering, this Rarity-8 Pattern may well be a restrike. The first offering of an 1865 $3 gold piece struck in nickel was Fewsmith:1336 in 1870! It could very well be this coin, since, at most, only 2 or 3 are traced according to the Judd Rarity-8 level. Well toned and dusky surfaces from possible long ago cleaning. A once in a lifetime opportunity for the collector of extremely rare Patterns!
The piece appeared in Heritage's 1996 ANA Signature sale where it was described as follows: "Die trials issue using dies from the 1867-68 proofs, struck around 1867. Struck in nickel with a reeded edge. Of the highest order of rarity, this piece is listed as R.8 but it may well be unique. In the Pollock reference, the only coin mentioned is the Farouk specimen. None are listed as being sold since Farouk in '54, with the previous appearances in auction being in three sales in the 1870s and '80s.
"Both sides are toned in streaky rose and gray-lilac hues. For a proof, the fields show little reflectivity, probably because nickel requires more die polishing than gold would. Also, the surfaces have been rather poorly treated over the decades with several prominent scrapes on the obverse, most likely the result of a misguided attempt to determine if this was a plated gold coin. Of great importance to the pattern specialist and an opportunity that is not likely to be repeated again anytime soon." Pop 1; the only one graded at either service. (PCGS # 60630) .
Estimated Value $15,000 - 17,000.
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