Lot 1878
1873 $3 Gold. Closed 3. NGC graded AU-58 PL. Nice prooflike surfaces. NGC #3005005-001. Attractive warm honey gold with lightly frosted motifs and decently struck details on most of the design. Some faint hairlines and stray marks in the field and light circulation wear at the high points account for the assigned grade, otherwise the surfaces are quite choice. Some striking weakness is noted at the bottom of the reverse wreath in the area of the bow, as usual with this denomination. The Annual Report of the Director of the Mint is gives no indication how many circulation strike examples of this date were produced, though 25 Proofs of the date with Closed 3 were made. Based on the number of survivors, one must surmise that at least 200-300 pieces were produced and we can speculate that their omission from mint records was probably an oversight of an early (January) delivery. What is known is that a small number of Proofs of the date were struck with an Open 3 style, which adds to the confusion surrounding this date, serving to increase the numismatic desirability. Everyone agrees: any 1873 gold $3 coin is a rarity regardless of grade or production format! When seen, the typical 1873 Closed 3 generally shows a modest amount of circulation, with even a few Very Fines reported, and, as could be expected from the limited production, virtually all display various degrees of prooflike surface. Pop 1; 2 in 62 PL; 1 in 63 PL.
Estimated Value $23,000 - 24,000.
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