Lot 2135
1878. NGC graded MS-65. CAC Approved. Housed in an Old Style Holder. A nice untoned coin. Only 82,304 struck. The 1878 has the maximum production of any Three Dollar gold issue in the 1870s. In fact, the mintage of this year amounted to under one hundred thousand coins in all. For any other gold denomination of the period, of course, this would be considered small figure leading to collectors viewing it as a scarce date. A frosty pink-gold Gem that has excellent aesthetic appeal. We note an identifying tone dot by Liberty’s forehead. The obverse is bright light peach pink gold while the reverse has additional heavy frost in addition to the same coloration. The surfaces are nearly flawless, which is understandable given the ’65 grade, and only a little sharper strike on the ribbon bow and portions of the upper wreath would have placed this in a higher grade range.Pop 125; 54 finer.
The $3 denomination was designed by James B. Longacre, who became chief engraver at the Mint in 1844, after the death of Christian Gobrecht. The obverse features the head of an Indian princess, facing left, wearing a feathered headdress upon which is a band inscribed LIBERTY. The inscription UNITED STATES OF AMERICA surrounds. The same motif was later used on the Type III gold dollar 1856-1889.
The reverse displays an "agricultural wreath" enclosing 3 DOLLARS and the date. The reverse wreath was later used on the Flying Eagle cents of 1856-1858. As is demonstrated, Longacre liked to copy his own work.
The $3 design was continued without major change from beginning to the end, except that issues of the year 1854 alone have the word DOLLARS in smaller letters than do the pieces from 1855 to 1889. Estimated Value $8,000 - 8,500
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| Realized $12,650 |
