Three Dollar (1854 - 1889)

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Three Dollar Gold Coin (1854–1889): A Unique and Rare Denomination

The Three Dollar Gold Coin, minted from 1854 to 1889, holds a special place in U.S. numismatic history as one of the most distinctive and lesser-seen denominations. Designed by James Barton Longacre, this coin combined artistry and functionality, although its purpose and practicality in commerce were often questioned.

Key Specifications

  • Designer: James Barton Longacre
  • Issue Dates: 1854–1889
  • Composition: 90% gold, 10% copper
  • Diameter: 20.5 mm
  • Weight: 5.015 grams (77.39 grains)
  • Edge: Reeded
  • Business Strike Mintage: 538,074
  • Proof Mintage: Approximately 2,060

Design Features

Obverse: Indian Princess

  • Features the head of an Indian princess facing left, adorned with a feathered headdress bearing a band inscribed LIBERTY.
  • Encircled by the inscription UNITED STATES OF AMERICA.

Reverse: Agricultural Wreath

  • Displays a wreath of corn, cotton, wheat, and tobacco, enclosing the denomination 3 DOLLARS and the year of issue.
  • The reverse wreath design was later used on the Flying Eagle cents minted between 1856 and 1858.

Notable Variations and Mint Locations

  • The 1854 issue features smaller letters for the word DOLLARS compared to later issues.
  • While most coins were struck at the Philadelphia Mint, limited production occurred at Dahlonega, New Orleans (1854 only), and San Francisco mints.

Collectibility and Rarity

Popular Dates:

  • 1854, 1874, and 1878 are the most commonly available dates, making them more accessible for collectors.

Scarce Grades:

  • Early Issues (1854–1859): Typically found in grades from Very Fine (VF) to Extremely Fine (XF). About Uncirculated (AU) and Uncirculated examples are rare, with 1854 being the most commonly seen in higher grades.
  • Later Issues (Post-Civil War): More frequently available in XF to AU, with coins from the 1880s often reaching Uncirculated condition.

Notable Rarities:

  • 1854-D and the unique 1870-S are considered pinnacle rarities.
  • Proof-only issues: 1875 and 1876 are highly coveted, as is the 1877.

Historical Context and Purpose

The Three Dollar Gold Coin was introduced in 1854, reportedly to facilitate the purchase of 100 three-cent postage stamps. However, the coin failed to gain popularity and saw limited circulation throughout its lifespan. Post-Civil War mintages were particularly low, often under 5,000 coins annually, contributing to its scarcity today.

Why Collect the Three Dollar Gold Coin?

  1. Unique Denomination: Its uncommon face value and design make it a standout piece in any collection.
  2. Historical Significance: A coin with a rich history tied to mid-19th century America and evolving commerce.
  3. Varied Rarities: From common dates like 1854 to legendary rarities like the 1870-S, there are opportunities for both beginner and advanced collectors.
  4. Beautiful Design: Longacre’s artistry shines in the intricate obverse portrait and reverse wreath.

Explore the Legacy of the Three Dollar Gold Coin at ParadimeCoins.com

Whether you're a seasoned collector seeking a rare proof issue or a type collector looking for a high-grade example, ParadimeCoins.com offers a curated selection of Three Dollar Gold Coins. Discover the allure and history of this fascinating denomination—perfect for enriching your numismatic journey!