Lot 850
1869 $3 Gold. PCGS graded EF-40. In the year 1869 one of the more curious events in our history took place. Two men, Gould and Fisk attempted to corner the gold market by purchasing all available gold on the market. These two financiers had convinced President Grant to stay out of the markets, which he did for a time. The price of gold skyrocketed for a brief time, until the President released part of the United States gold hoard, more than Gould and Fisk could purchase, and the price collapsed. Hence, the Gould and Fisk corner of the gold market came to an abrupt, and financially painful end. During these wild times, gold did not circulate on the east coast, and higher and higher premiums were paid to obtain gold coin. Once the markets stabilized, gold returned to limited circulation. Here is a pleasing momento of those wild times, a choice 1869 three dollar gold piece. Slightly prooflike in the fields near the devices, boasting greenish-yellow color and outstanding in every way.
Estimated Value $700 - 800.
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| Realized $978 |
