Lot 4649
1854-D $3 Gold. NGC graded AU-58. Well struck and lightly toned. The $3 gold piece was authorized by the Act of February 21, 1853, a very important piece of legislation from a numismatic viewpoint, an act which also affected the silver coinage, namely the reduction in weight of the half dime, dime, quarter, and half dollar, and the addition of arrows alongside the date to indicate the new standard. Whether or not the $3 denomination was actually necessary or worthwhile has been a matter of debate among numismatists for well over a century. At the time of its introduction, 1854, the $3 had as a close companion-the long established $2.50 quarter eagle.
The initial year's production was made at three Mints: Philadelphia and New Orleans contributed the lion's share of the 160,000+ coins minted. Trailing far behind was the Georgia mint at Dahlonega with a paltry 1,120 pieces struck. Although uniformly frosted around and within the devices, the fields are slightly brighter and definitely less worn than a few others that parade around the convention floors as "About Uncirculated." Smooth pale golden color is noted throughout, and a decent lack of marks or hairlines, but given the consistent high quality with the coins from this consignor, that goes without saying. A coin whose beauty surpasses all competitors! Pop 34; 8 finer; 2 in 60; 5 in 61; 1 in 62. (PCGS # 7970) .
Historic note: The reverse displays an "agricultural wreath" enclosing 3 DOLLARS and the date with the mintmark D below the ribbon. This wreath was later used on the Flying Eagle cents of 1856-1858. As is demonstrated, the designer of the two coins, James Longacre, liked to copy his own work.
Estimated Value $45,000 - 50,000.
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