1854 $3 Three Dollar PCGS MS64. Crisp strike, sharply lustrous. First year of issue for the denomination and a perfect type coin, offered here in near gem condition. The 1854 three dollar gold piece has the highest mintage of the series at 138,618 pieces struck for circulation. While a considerable number were saved in uncirculated condition, many are bagmarked and in low numerical mint state grades. Pieces such as this one are always in demand, and showcase a denomination which was only used for a few years, after which most issues became solely struck for collectors of the time without seeing circulation.

The 3-cent rate of the United States postal system in the mid 1850s led to the introduction of this denomination, which was to facilitate the buying of sheets of hundred stamps. Stamps were first introduced in the United States in 1847, following a number of countries beginning with the United Kingdom in 1840. By 1854, it saw widespread use trough out the country, and many people were familiar with the small pieces of paper.

The introduction of the three dollar gold piece was a direct result of the introduction of postage stamps seventeen years earlier. It was designed by James Barton Longacre, who designed the majority of mid 19th century coinage of the United States. The denomination would be struck until 1889, when postage rates rose, but soon after its introduction circulation ceased, except in the western-most parts, in particular in California. As a result, a whole generation would grow up while this unusual denomination was still being struck, but most never saw one in hand.

The present piece has crispy luster along with remarkable clean fields for the grade. The strike is near full, highlighting the design details very nicely. As can be expected for the grade, the luster is full on both sides, which adds to the effect of both sides to the eye. No major blemishes are noted, except for a few tiny marks on the cheek, which are not distracting at all. In all, this coin is a great first year of issue, and an excellent representative in a high-end type set of 19th century American coinage.