Three Dollar Gold Pieces, 1854-1889

Designed by James B. Longacre, Three-Dollar Gold Pieces were authorized on February 21, 1853, virtually escaping notice when included in a subsidiary silver coinage bill presented to Congress. This coin served little useful purpose, except for redemption at the post office for 100 stamps, and was a generally unpopular coin. Even so, the Three-Dollar Gold Piece was minted for 35 years, usually in limited numbers.

The Three-Dollar gold series is one of the most popular of all gold series to acquire by advanced collectors and investors. This is due in part to the fact that of the 81 issues minted in both Proof and Business strikes, yet only one coin's mintage exceeds 100,000 pieces. In fact, 73 coins, or 90%, have an original mintage of less than 10,000 pieces! This relative rarity does not indicate, however, that most of these coins cannot be acquired. To the contrary, most coins are at least available in About Uncirculated condition, with many available in Uncirculated and unimpaired Proof condition.

The Three-Dollar gold piece is also popular with those attempting to acquire a basic example of each gold denomination, such as a twelve-piece gold Type set. An 1874 or 1878 is usually the date an investor purchases typically after has acquired a four-piece Liberty and a four-piece Indian Type set, and has either acquired two or three of the One Dollar Gold pieces.

All Three-Dollar Gold Pieces are scarce, particularly in Mint State. Only slightly more than 500,000 coins of all dates and mintmarks were produced. The key dates are the 1854-D, the 1865, the 1870-S, and the proof-only original issues of 1873 and the 1875. There is a confirmed branch mint Proof coin struck at San Francisco in 1855 that is one of the great rarities in the entire U.S. gold series. Finally, only one example of the legendary 1870-S $3 Gold Piece is known today and is permanently impounded in the Bass Research Foundation, although a second specimen was rumored to have been placed in the cornerstone of the old San Francisco Mint.

Designed by: James Barton Longacre
Issued Date: 1854-1889
Composition: 0.900 parts gold, 0.100 parts copper
Diameter: 20.5 mm
Weight: 77.4 grains
Edge: Reeded
Mint marks: Philadelphia (none); Dahlonega (D); New Orleans (O); San Francisco (S)
Total Business strike mintage: 538,174
Total Proof strike mintage: 2,108

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 reverse displays an agricultural wreath enclosing 3 DOLLARS and the date. The obverse portrait and the reverse wreath are similar to those found on the Type II gold dollar minted 1854-1856, while the reverse wreath was later used on the Flying Eagle cents of 1856-1858.