1882
$3 Three Dollars Gold, PCGS MS62. Fresh PQ. Mtg 1500.
From a business-strike mintage of just 1,500 pieces,
this scarce $3 gold piece is offered here in uncirculated
condition. Mintages of most gold denominations were
low in 1882, as the coins were not needed in commerce,
were earlier issues were usually encountered. To prevent
creating instant rarities for collectors and to supply
at least some of the gold depositors with smaller denominations,
all coins were struck but in small quantities. Additionally,
the $3 denomination had basically ceased circulating
by the early 1860s, and the odd denomination was basically
useless by 1882, with the series not discontinued until
1889.
Collectors soon noticed the low mintages
of these gold coins, and many pieces were hoarded and
preserved for future collectors. Many of these coin
will some show minor friction on the highest points,
a witness to the cabinets in which they once resided.
True uncirculated examples, such as the present specimen
are scarce within the context of the series, with only
a limited number available to collectors. Obviously,
with a mintage of just 1,500 coins it is not surprising
that the overall supply is quite low.
The present specimen is a fully uncirculated
gold coin, with full luster on both sides. This coin
is a true business strike and not a Proof, as identified
by the widely repunched numerical two in the date (to
the north). While the fields are somewhat scrubbed,
presumably from contact with other coins there are no
deep marks or hits that are worth to be mentioned. A
nice coin of this scarce and low-mintage issue and a
good and affordable representative for the series’
in an advanced type set.
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