Lot 1263
1873 $3 Gold. Closed 3. PCGS graded AU-55. A classic rarity in any grade, this date has an interesting story as noted in Breen's Encyclopedia as follows:
"The 1873 deserves special mention here. Dies with closed 3 were prepared in late fall 1872 for all denominations. These occasioned a complaint by Chief Coiner Archibald Loudon Snowden, Jan. 18 1873, alleging that the final digit (especially on smaller coins) could readily be mistaken for an 8. The Director ordered William Barber's Engraving Department to prepare a new set of date logtypes with open 3; working dies for all denominations (except 3¢ silver, half dime and silver dollar, abolished by the new Mint Act of February 12, 1873) followed shortly. Original gold proof sets obtained from the Coiner in 1873 show that the $3--unlike any other denomination--had open 3. Paradoxically, closed 3's are known, rarely in proof state, usually in F to EF grades; there is no Mint record of their coinage, and as some of these pieces have obv. dies identified as dating from 1879, they have been characterized as restrikes. However, preservation of other closed 3's does not permit positive identification of their obv. dies with coins of any other date, and the suggestion has lately been advanced that these latter may represent a delivery of a few hundred original 1873's, probably in January, mostly for circulation, omitted from Mint records in error."
Apparently, someone wasn't doing their job in 1873, as no one made an entry in the coining log of the fact that any three dollar gold pieces were struck that year. PCGS has only graded 16 this grade, with 12 a grade higher and a total of 6 in the lower mint state grades. Thus, its nearly impossible to find one appreciably better of this rare date. Mintage estimated at 100 by PCGS, which was probably too low, as 51 have been graded by that service. An opportunity to buy a rare coin in top grade. Moderate handling marks in the fields, and pleasing yellow-gold color.
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| Realized $8,625 |
