1862 Three Dollars Gold NGC MS64.
A splendid near gem survivor of this low mintage $3
gold piece. A total of 5,750 pieces were struck in this
year, together with 35 proofs for collectors. The outbreak
of the civil war in the previous year soon resulted
in all silver and gold being taken from circulation.
Mintages of coins soon declined, as the pieces were
not really needed and would not circulate anyway.
The $3 denomination, introduced in 1854 was never
popular. The general public never got used to them,
and with a few exceptions mintages were usually low.
As a result, many issues are very rare, although they
are still available as many were saved by collectors
and banks. With the low mintages of these issues,
survival rates are actually quite high. However, as
they were almost always considered to be a curiosity,
many were used in jewelry or otherwise mishandled,
making higher graded coins such as this piece very
scarce to rare.
After the civil war, circulation of this denomination
completely ceased, causing mintages to be even lower
then this piece. In 1875 and 1876, only proofs were
made for collectors, and in other years circulation
strikes were produced in very limited quantities.
In 1881 for example, only 500 pieces were struck for
circulation. These low mintages are one of the reasons
this series is not much collected by date, with only
a few major collections being exceptions.
The present piece, toned to a silvery gold color
shows virtually no marks in the fields. Most of the
details are brought up nicely, although it exhibits
a slight weakness in the centers. Very lustrous, this
is truly a wonderful example of this popular civil
war date which is sure to delight the specialist.
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