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The three dollar gold coin, introduced in 1854, was one of the most unpopular
coins in history. Both Congress and the Mint were certain a three dollar gold
piece would be a high demand item primarily to purchase sheets of 100 three-cent postage
stamps. A similar thought process led to the origination of the
three cent trime
in 1851.
Instead, the three dollar gold coin was soundly rejected by the public.
Accordingly, small mintages of the coin were produced during its 35 year
lifespan from 1854 to 1889. Only about half a million pieces were struck at all
the mints combined. Subtract from this total those that were lost or destroyed,
and what remains is a tiny supply of three dollar gold coins in existence today.
Mint Engraver James Longacre’s design depicts an Indian princess on the obverse,
wearing a feathered headdress and a band inscribed with the word “LIBERTY”. An
agricultural wreath comprised of tobacco, wheat, corn, and cotton is the primary
element of the reverse, encircling the date and “3 DOLLARS” to indicate its face
value.
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Three Dollar Gold
Specifications |
Diameter: |
Weight: |
Minted: |
Composition: |
Designer |
Edge: |
20.50 mm |
5.015 g |
1854-1889 |
.900
Au .100 Cu |
James Longacre |
Reeded |
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Coin Photos courtesy of
Ira & Larry Goldberg Coins & Collectibles, Inc., Beverly Hills, CA. |
The year 1889 sounded the final death knell for the three dollar gold coin. The
one
dollar gold coin and the
three cent nickel also met their demise in 1889.
All three dollar gold coin dates are scarce, to say the least. Several of them
are famously rare. There is only one known example of the 1870-S, although
numismatic scholars believe two of them were struck. The lone known 1870-S went
to a new owner in 1982 at a price of $687,500. The 1854-D, 1875, and 1876 are all
very rare and merit six figure price tags for high grade examples.
There is no such thing as a common date three dollar gold piece; by default,
they are all key dates. However, some of them are more key than others. We’ve
assigned each coin of the series into one of three groups: Group 1 is the least
rare, Group 2 has coins of intermediate scarcity, and Group 3 has the rarest and
hence most valuable coins of all (the 1870-S notwithstanding). As one might
predict, the coins in Group 1 have demonstrated the least spectacular value
trends over time, while those in Group 3 have increased in price the fastest, no
doubt due to collectors competing fiercely over an extremely limited supply.
Three dollar gold coin collectors should select from the highest group their
budget will allow, if future value growth is a paramount consideration. Here is
the breakdown of the groups:
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Group 1 |
Group 2 |
Group 3 |
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1854 |
1855 |
1856 |
1854-O |
1855-S |
1854-D |
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1856-S |
1857 |
1859 |
1857-S |
1858 |
1873 OP 3 |
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1860 |
1860-S |
1861 |
1865 |
1867 |
1875 |
|
1862 |
1863 |
1864 |
1873 CL 3 |
1877 |
1876 |
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1866 |
1868 |
1869 |
1881 |
1884 |
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1870 |
1871 |
1872 |
1885 |
1886 |
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1874 |
1878 |
1879 |
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1880 |
1882 |
1883 |
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1887 |
1888 |
1889 |
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The three dollar gold piece has a well deserved reputation for rarity across the
board. Unfortunately, scammers have capitalized on this fact over the
years by selling overgraded, fake, or altered examples to uninformed buyers
anxious to claim an example as their own. If you're buying from a coin
dealer with an impeccable reputation amongst the numismatic community, you
needn't worry so much. For any other seller, be sure the coin has been
certified by one of the four leading grading service companies: PCGS, NGC, ICG,
or ANACS.
The first "Sales Box" below initiates a search of eBay coin auctions for all
Group 1 three dollar gold coins, as defined above. The second and third
boxes pulls up Group 2 and Group 3 coins, respectively. There will almost always
be several Group 1 coins for sale. This statement does not hold true for
Groups 2 and 3 because of their greater scarcity. Lots of people sell
coins on eBay, so if you keep checking back, sooner or later you're bound to
find a real screamer. Be sure to follow the advice about buying and third
party certification.
Long range value trends for the 1857 three dollar
gold piece are reported on the left hand side of the Group 1 box below.
The 1857 was highlighted because it is a good representation of the coins in
Group 1. The
percent annual increase since 1950 is computed for so you will know how
Group 1 does compared to the other groups.
Similarly, the 1881 was chosen to illustrate Group 2 trends, and the 1854-D
carries the banner of Group 3. By clicking the link on the right hand side
of the Sales Box, all coins currently for sale on eBay that belong to that group
will be isolated for your convenience.
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Group 1
Three Dollar Gold
Condition: F-12
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Group 2
Three Dollar Gold
Condition: F-12
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1857 Value Trends Sample
1950: $17.50
1980: $300
1995: $425
2003: $550
2007: $700
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1881 Value Trends Sample
1950: $30.00
1980: $900
1995: $600
2003: $7500
2007: $2250
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% Annual Increase
Since 1950 =
6.69%
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% Annual Increase
Since 1950 =
7.87%
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Half Cents
1793-1857 |
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Large Cents
1793-1857 |
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Flying Eagle Cents
1856-1858 |
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Indian Head Cents
1859-1909 |
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Lincoln Cents
1909-present |
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Two and Three
Cents 1851-1889 |
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Shield Nickels
1866-1883 |
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Liberty Nickels
1883-1913 |
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Buffalo Nickels
1913-1938 |
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Jefferson Nickels 1938-present |
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Early Half Dimes
1792-1837 |
|
Seated Liberty Half Dimes 1837-1873 |
|
Early Dimes
1796-1837 |
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Seated Liberty Dimes 1837-1891 |
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Barber Dimes
1892-1916 |
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Mercury Dimes
1916-1945 |
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Roosevelt Dimes 1946-present |
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Twenty Cents
1875-1878 |
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Early Quarters
1796-1838 |
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Seated Liberty Quarters 1838-1891 |
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Barber Quarters
1892-1916 |
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Standing Liberty
Quarters 1916-1930 |
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Washington
Quarters 1932-present |
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Early Half Dollars
1794-1839 |
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Seated Liberty
Half Dollars 1839-1891 |
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Barber Half
Dollars 1892-1915 |
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Walking Liberty
Half Dollars 1916-1947 |
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Franklin Half
Dollars 1948-1963 |
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Kennedy Half Dollars 1964-Present |
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Early Dollars
1794-1804 |
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Gobrecht Dollars 1836-1839 |
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Seated Liberty Dollars 1840-1873 |
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Trade Dollars
1873-1885 |
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Morgan Dollars
1878-1921 |
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Peace Dollars
1921-1935 |
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Eisenhower Dollars
1971-1978 |
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Anthony Dollars
1979-1981,1999 |
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Sacagawea Dollars
2000-present |
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Presidential Dollars
2007-present |
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Gold Dollars
1849-1889 |
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Early Quarter Eagles 1796-1834 |
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Classic Head Quarter Eagles 1834-1839 |
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Coronet Quarter
Eagles 1840-1907 |
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Indian Head
Quarter Eagles 1908-1929 |
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Three Dollar Gold
1854-1889 |
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Early Half Eagles
1795-1834 |
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Classic Head Half Eagles 1834-1838 |
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Coronet Half
Eagles 1839-1908 |
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Indian Head Half
Eagles 1908-1929 |
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Early Eagles
1795-1804 |
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Coronet Eagles
1838-1907 |
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Indian Head Eagles
1907-1933 |
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Coronet Double
Eagles 1849-1907 |
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St-Gaudens Double
Eagles 1907-1933 |
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The Oklahoma Land Rush began at noon on April
22, 1889. More than 200,000 homesteaders made a made dash to stake
their claims. A few of the land-hungry settlers crossed the starting
line too soon, and are forever remembered as the Oklahoma "Sooners".
The year 1889 also saw the end of several United States coin types: the
three cent trime, the one dollar gold coin, and the three dollar gold coin.
Image courtesy of
Library of
Congress. |
