1861 Three Dollar Gold NGC AU53  CAC - 1861 $3 NGC AU53 CAC. Here is a scarce, Civil War dated 1861 Three Dollar Gold Piece that would please any history buff or Civil War collector. Original mint luster glints from within the devices. The coin is a mixture of yellow and greenish gold. The former reflects the presence of silver in the alloy mix. The surfaces are original, as attested to by the presence of the colors, and clean with no individual abrasion mark worthy of description. Only a trace of wear is visible at the feather tips and on Libertys hair, in keeping with the grade.

The strike is above average with strong details on the central portions of the reverse design. The dentils are full and sharp on both sides of the coin.
James B. Longacre designed the coin using the Indian Princess for his main device. He had to create a motif for the three dollar gold coin that would be distinctly different from the quarter and half eagle coronet designs. The design, similar to his gold dollar Large Head, shows a head of Liberty facing left in profile wearing a stylized headdress. Inscribed on the headband is LIBERTY. She is surrounded by the words UNITED STATES OF AMERICA. In using the Indian Princess design, Longacre felt that he was creating something that was uniquely American rather than an adoption from the classics. The reverse of the piece shows an open wreath of corn, cotton, wheat, and tobacco tied at the bottom with a bow. The denomination 3 appears at the top center of the wreath, with DOLLARS and the date below within the wreath. Longacre liked the wreath design so much that he adopted it for use on the small cent of 1856.

In 1851 a law was passed that authorized a three-cent piece and also made the postage rate three cents. Two years later a new law was passed authorizing a light weight silver three-cent coin and a three-dollar gold coin. Evidently lawmakers believed that the gold coin would be useful to buy rolls of three-cent coins and sheets of stamps. Its closeness to the quarter eagle, which was widely used, made the denomination somewhat illogical, and the public proved indifferent to them.

In 1844 Longacre was appointed Mint Engraver through the influence of Senator John C. Calhoun of South Carolina. After overcoming opposition by the Chief Coiner, Franklin Peale, who was fearful that the new Engraver would interfere with his illegal medal manufacturing business using the Mint facilities, Longacre did well. He was responsible for creating many new designs including the Indian Head cent, the two-cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollar, the three-dollar gold piece, and the Liberty Head double eagle. 

In its population report, NGC shows 22 1861 Three Dollar Gold Pieces certified at the AU53 level.