Lot 2045
1854-O. NGC graded AU-55. Nice even golden toning. A nice strike. Only 24,000 struck of which merely 1,000 examples are estimated to have survived. A lovely specimen of this popular issue, desirable and remarkable as the only New Orleans coin of this denomination (PCGS # 7971) .
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.
Estimated Value $8,000 - 9,000.
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