January 25-28, 2004, The Pre-Long Beach Coin & Currency Auction
Sale 23

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$3 Gold

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3210    1854. NGC graded MS-63. First year of the type, here in a choice Mint State grade. Lovely toning and semi-reflective surfaces.
The Three-Dollar gold piece was minted to aid customers with their postage purchases -- the price of a sheet of 100 First Class stamps was a nice, round $3.00!
Estimated Value $4,500-5,000.
 

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3211    1854. NGC graded AU-58. With orange toning this coin is very close to mint state.
Estimated Value $1,300-1,500.
 

Important 1854-D $3.00 Gold

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3212    1854-D. AU-55. We are proud to present the key date to the regular issue $3.00 gold pieces, the 1854-D. The mintage figures closed the year at a meager 1,120 coins for Dahlonega, this being the first year of issue perhaps a few were saved. History would later know that this would be the only year $3.00 gold pieces would be produced in Dahlonega. This particular coin, cleaned long ago, now boasts lovely satiny golden color. The fields are quite clean and the devices show few bagmarks or other surface abrasions. Light friction appears on the upper curls of Liberty, specifically the curls over her eye, ear and lower neck curls. All the letters in DOLLARS well as the numerals in the date and the mintmark are bold and fully struck up. Although Walter Breen estimated 5 or 6 were known in about uncirculated condition, the various Population Reports reflect a number 5 times as great (we know that this reflects coins that have been submitted multiple times), the true population census of choice high grade examples range between 10 and 20. Regardless that this coin has been cleaned, it has a wonderful look and will fit nicely into a top set of $3.00 gold pieces or a mintmark denomination type set.
Estimated Value $12,000-14,000.
 

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3213    1854-O. NGC graded EF-45. Popular as th eonly "O" mint $3.00 gold piece issued. Pop of 85 in this grade by NGC.
Estimated Value $1,300-1,500.
 

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3214    1855. NGC graded MS-61. Attractive, yellow-gold color. A nice example of this decidedly tougher date. Even though the mintage is a fraction of that of the 1854, the 1855 can be had for only a slight premium. In our minds, that sounds like a good deal.
Estimated Value $2,600-2,800.
 

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3215    1855. PCGS graded AU-58. Lots of frosty mint luster still intact.
Estimated Value $1,700-1,900.
 

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3216    1855. PCGS graded AU-50. Lightly toned and in an old green PCGS holder.
Estimated Value $900-1,000.
 

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3217    1855. NGC graded EF-45. Attractive light orange toning.
Estimated Value $750-800.
 

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3218    1874. EF-40. Some light scratches scattered about on both sides.
Estimated Value $500-600.
 

Wonderful 1878 $3 Gold Piece

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3219    1878. NGC graded MS-66 star. A very impressive example of one of the most unusual denominations ever issued by the United States. This example features deep, shimmering mint frost and heavy, coruscating luster (justifying NGC's Premium Quality Star designation). The color is a beautiful blend of light gold with scattered hints of bright orange. The strike is excellent and the overall surface quality fully supports the assigned grade. NGC reports only two examples at this grade level, with none finer.

The Three Dollar Gold piece was authorized by the Mint Act of February 21, 1853. Its main purpose was two-fold: one, to make a convenient way to convert 100 Three Cent Silver pieces and two, to make a convenient way to purchase sheets of 100 3 Cent Postage Stamps. For the most part, mintages were low and, in some years, only Proofs were struck. Today, they are among the most popular of all gold coins, mostly because of their inclusion in type sets of U.S. gold coins. Color photo.
Estimated Value $12,000-15,000.
 

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3220    1878. NGC graded MS-62. A lovely lustrous example with nice original toning intact. A small flaw on the cheek keeps this specimen from grading much higher.
Estimated Value $2,000-2,300.
 

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3221    1878. NGC graded MS-61. Frosty yellow, with tinges of coppery toning around most of the lettering and devices. A common date that is very popular with type collectors.
Estimated Value $1,700-1,800.
 

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3222    1878. NGC graded AU-58. A nice, lightly circulated example of this immensely popular type.
Estimated Value $1,100-1,250.
 

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3223    1878. PCGS graded AU-55. Well struck with gold gold toning on both sides. A Premium Quality example for this numerical grade.
Estimated Value $1,000-1,100.
 

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3224    1879. Sharpness of EF-40 Polished. The rims are undamaged. Rare low mintage date as only 3000 were struck for circulation.
Estimated Value $300-400.
 

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3225    1882. NGC graded MS-60. One of only 1,576 examples struck for the entire year! A pleasing coin with semi-reflective surfaces in the protected areas.
Estimated Value $2,800-3,000.
 

$4 Gold

Desirable 1879 $4 "Stella"

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3226    1879 Pattern Four Dollars. Gold, reeded edge. J-1635. NGC graded Proof 62. A classic design by George Morgan, founded in a proposal by Representative John Adam Kasson for an international coinage. Nicely struck and fully reflective, but with just a few too many light hairlines to make the choice grade. Faint surface striations typical of the 425+ Proofs struck after the 25 Originals (which supposedly show no striations). Mostly brilliant, with just a hint of cameo contrast on the central devices. This is one of the most popular of all American coins, enough to make Stellas one of the few Pattern coins included among regular issue coins in most reference books (the GUIDEBOOK being a notable example).

Stellas are "international" not in their conformity to other world gold coins, but in the fact that they state their weight and the relative proportions of gold and silver on their face. Presumably, gold was appreciated more worldwide in 1879 than were U.S. baknotes, thus it was easier to determine the value of 6 grams of pure gold than it was to convert $4 in bills based on some market- or government-imposed rate. Regardless of intent, the Stella experiment failed and was abandoned. Ultimately, the Dollar became an international currency all on its own, not due to experiments such as this, but because of the strength and stability of U.S. markets. One final note on the relative value of the Dollar -- in 1879, it took four of them to purchase a Stella; today, it takes many tens of thousands, as this piece will prove! Color photo.
Estimated Value $65,000-70,000.