1876 $3, DC PR (PCGS# 98040)

FUN07 Platinum Night #2

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    3481
  • Grade:
    PR64
  • Price:
    $54,625.00
Lot Description
1876 $3 PR64 Deep Cameo PCGS. The proof-only status of the 1876 three dollar and close association with the even more elusive 1875 (one of the legendary 19th century gold dates from gold dollar through eagle denominations) have given it considerable notoriety among generations of gold collectors. Its well documented rarity is easily recognized by a quick glance at the mintage figure. While 45 proofs may sound like a minuscule output, it is actually the highest production for the denomination between 1868 and 1880. It is the issue's proof-only status that secures its esteemed standing. Although produced from a single set of dies, there were two separate deliveries of 1876 proof threes. Improper storage after the first 20 specimens were struck was followed by a second production of 25 coins in June of that year. Evidence of die rust can be detected on these later pieces, found here and on the Gem specimen in the next lot. Other minor disturbances are sometimes found on these so-called restrikes, here a small, but deep planchet void is located just to the right of the wreath at 3 o'clock on the reverse. The contrast on this Choice specimen is quite dramatic, with characteristic halo effect found to the left of the portrait. One must allow for duplication in arriving at the number of surviving 1876 threes, but even so it seems that no more than 25-30 pieces are extant today. Population: 1 in 64, 4 finer (12/06). From The Blowing Rock Collection, Part Two.
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