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Lot 3253

Image Information

Type Coin
Title Lot 3253
Date 1863
Side obverse
Grade 61
Service NGC
Service Catalog # 7984
Denomination $3
Description 1863 $3 MS61 NGC. CAC. Ex: "Col." E.H.R. Green. By 1863, silver and gold coins had ceased to circulate on the East Coast or in the Midwest. Fractional currency dominated in commerce, and a significant premium was needed to exchange paper money for the unpopular three dollar gold pieces, accounting for the issue's low mintage of only 5,000 coins. In The United States $3 Gold Pieces (2005), Bowers and Winter note: "The true elusive nature of the 1863 is often overlooked, as low mintages also occur for most $3 coins in the 1880s, and those appear on the market with frequency. However, few 1863 coins were deliberately saved, and across the board they are quite rare." This amazing survivor offers peach-gold surfaces that radiate with glistening mint frost. The legends are sharply defined, while the plumes on Liberty's headdress and the wreath bow show slight indistinctness. The 1863 dies clashed early on in the minting process, and extensive clash marks appear over each side. Still, this is a minimally marked representative with strong visual appeal. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $27.50; Eric P. Newman Numismatic Education Society. Realized $7637.50. Description courtesy of Heritage Auctions.

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