The June 4, 2000, Dr. Jon Kardatzke Collection Parts II & III, Sale 5
Lot 1256
1869. Sharpness of AU-50 but repaired on Liberty's cheek. The repair work on Liberty's cheek is scarcely visible and a glass is needed to see that a nick was smoothed down. The reeding on the lower obverse is also weak, but the weakness is apparently as struck. Another rare date with a mintage of only 2,500.
Lot 1257
1869. Sharpness of VF-20 but cleaned. Cleaned and now a bit shiny in appearance. A scarce, low mintage date (2,500). Nice surfaces otherwise and acceptable for a date collector who doesn't want to spend far more money and wait years for a choice example of this date.
Lot 1258
1870. Sharpness of AU-50 but polished to resemble a Proof. This coin was nearly Mint State when it was polished. Too bad it doesn't have an "S" on the reverse, but still scarce as a date with only 3,500 minted. An affordable alternative to a choice piece.
Lot 1259
1870. EF-45. Nice for the grade, with minor circulation marks in the fields, and pleasing original orange-gold color on both sides. Well struck.
Lot 1260
1871. AU-53. A meager 1,300 were struck for circulation, this one of the better survivors of perhaps 150 known. As always, minor handling marks from its days in commerce, mostly in the prooflike fields. Boldly impressed and another rare issue for the date collector.
Lot 1261 
1872. PCGS graded MS-62. Nice for the grade, with pinkish luster on the devices and only light handling marks. A few hairlines are noted in the fields and a mark hidden on Liberty's head extending in a broken pattern up between the letters OF. One of only 10 so graded with 4 graded higher, so don't wait for a better one.
Lot 1262 
1873. Closed 3. PCGS graded Proof 62. This great rarity is among the least seen of all U.S. gold coins. We notice that NGC has reviewed only one of them (a 64), while PCGS has seen only 5 of the unknown number of pieces made (the PCGS Pop Report puts the mintage at 8 coins!). Three of them are graded above this in terms of number, but the appearance of this coin would be hard to beat. It's got gleaming mirrors and a moderate cameo. The classic orange-peel texture of the surfaces is enchanting, as always on a quality Proof. The cataloguer's immediate impression was that this was a PR64. Examine it carefully and decide for yourself. For those who value absolute rarity, ownership of this specimen is almost a must!
Lot 1263 
1873. 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.
Lot 1264 
1873. Open 3. PCGS graded Proof 62. The Open 3 date coins were the originals Proofs, while the Proof closed 3 variety were restrikes. Breen estimated that of the original 25 struck, only 10-14 survive, this is probably about right, as PCGS has graded a total of 17, with all the regrades and cross-over grading today, it is best to take the Population Report numbers with a grain of salt. Of the numbers reported by PCGS, this is one of 4 so graded, with 12 graded higher.
Examination with a glass notes some minor hairlines in the fields, a scuff mark both below and another above Liberty's bust tip, and a planchet pit on the reverse field between the wreath and the edge at about 2:30 o'clock. The fields are still very reflective, and this is what most numismatists would be satisfied with for this rarity. Liberty's head is wonderfully frosted, and the reverse is similar with frosted areas on the wreath. Toned with hazy gold colors on both sides, and probably not cleaned in many years. While not a perfect specimen of this popular rarity, we expect strong bidding will be needed to win this lot.
Lot 1265 
1874. AU-55. Semi-prooflike in the fields, which now show moderate handling marks. Minor hairlines are present. Well struck and preserved otherwise.
Lot 1266
1874. EF-45. Nice for the grade, a common date for this series, and one for the type collector.
Lot 1267 
1875. PCGS graded Proof 60. A classic rarity in any grade, the 1875 is only available in Proof condition. None were struck for circulation. The Philadelphia Mint only struck 20 of these, with perhaps a few more struck later as restrikes (See Breen). This coin appears to be one of the originals, as it has the die characteristics of the first group struck. Apparently most of the original 20 were lost, as PCGS has only graded 5 coins, one that slipped into circulation as an EF 45, this coin and three graded higher. A glass will note some very minor dull marks on Liberty's face, and the fields show the familiar hairlines expected on a Proof 60 coin. The color is a pleasant orangy-gold tone, with reflective mirroring and nicely contrasted devices. There are a few similar dull scrapes on the left side of the reverse wreath, but they are hidden by the busy devices and a glass is needed to detect them. This is a fabulous rarity and one that is seldom offered in any grade, so don't expect to find a better one anytime soon. You may be waiting years and years. With the price of gold being so low for so many years, what could be a better time to put this date away?.
Lot 1268 
1876. Sharpness of EF-45 but repaired on the reverse and polished. This is one of just 45 struck in Proof, there were no coins produced for circulation. Somehow, this coin was chosen for some sort of adornment, it may have been mounted at the central reverse as the remnants of a ring are visible inside the wreath. The mounting was removed and the area of the date and denomination has been smoothed and polished. As noted in Breen, of the few known, at least 7-8 are impaired, so this isn't all that unusual for the issue. The obverse appears to be a circulated proof, with a number of minor marks in the fields and on the devices. This is not a coin that the grading services will "grade", but it is an important rarity that is seldom offered. A coin that deserves to be inspected and is worth a bid, if displayed obverse up, the damage is not detectable. Better than we make it sound.
Lot 1269 
1877. Sharpness of AU-50 but cleaned. The obverse has been cleaned with a cloth and now displays myriad hairlines that give the coin a satiny appearance. On the reverse, more of the original prooflike surface remains, and it appears to have suffered just normal circulation marks. Only 1,468 were struck for general circulation, as the coining department finally had to wake up after a couple of pretty sorry years of $3 gold production. Seldom offered in any grade, in fact this is the lowest population coin in the regular $3 series according to the PCGS Population Report with only 35 graded in all. Perhaps rarer than we know.
Lot 1270 
1878. MS-62. Lovely mellow gold color, no marks of any size, usual luster for this type, clean rims, normal good strike.
Lot 1271
1878. AU-50. A frosty near-mint coin that boasts excellent color and pleasing surfaces. Common as a date, but in demand for the strange denomination.
Lot 1272
1878. AU-50. Cleaned long ago and starting to retone. One minor rim tick on the lower left reverse.
Lot 1273
1878. EF-40. Light handling marks as always from even light circulation. Perfect for the type collector.
Lot 1274 
1879. AU-50. Choice for the grade, with splendid color and only a few handling marks visible with a glass from brief circulation. Another rare date with only 3,000 struck for commerce. This would make a lovely acquisition for the specialist date collector.
Lot 1275 
1880. PCGS graded MS-64. A classic example of this hoard date, only 38 have been graded this high with a scant 10 graded higher. Examination with a glass will note a couple of minor tick marks from handling. Nevertheless, this piece has splendid mint bloom and blazing luster. Fully struck throughout and well worth a top bid for this scarce date that boasts a mintage of only 1,000 coins.
Lot 1276 
1881. EF-40. With an embarrassing mintage of only 500, how many can be around today? Here is one of them, and its a nice coin for the grade. Moderate surface lines from circulation, and a few trivial contact marks, but nothing distracting. Business strikes were pounded out on June 4, 1881, of which about 20 survive in mint state, while another 50 or so in various circulated grades. Be sure to bid liberally if you expect to capture this rare coin.
Lot 1277
1882. Sharpness of VF-20 but cleaned. Careful examination with a glass will note some faint scratches on the obverse most of which were worn away by additional circulation. The surfaces were cleaned and the usual hairlines are now present in the fields. Scarce, with a mere 1,500 issued.
Lot 1278 
1883. Sharpness of Extremely Fine. Well struck, but cleaned and retoned to a natural appearing circulated gold color. A few faint scratches are noted on the obverse as well as scattered handling marks. Only 900 business strikes were issued, this being typical of the few found today.
Lot 1279
1883. EF-40. Rather heavily hairlined in the fields from a not too gentle cleaning, which has left the surfaces somewhat dull. Only 900 coined for commerce, of which maybe 100 to 150 remain today for all collectors. Sharply struck.
Lot 1280 
1884. AU-55 Prooflike. The delicate prooflike fields show minor hairlines from brief circulation, but no deep or annoying marks. Some of the original reflectivity remains, enough so to dazzle the eye without teasing away all the funds in the wallet. Mintages climbed to a staggering 1,000 in 1884, compare this with other denominations. A small hoard of mint state examples turned up years ago, otherwise this date would be all but unobtainable in any grade.
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