Gold Dollar - The 1873 Gold Dollar
has both Open 3 and Close 3 varieties. When the coin first
appeared, it was difficult to read the date because the
3 punch looked like an 8. The Close 3 is very scarce in
all grades. Many prooflike examples are known and are difficult
to distinguish from proofs. Only 7 have been certified in
grades above MS64.
In 1873 the Panic of 1873 took place. It
was an international economic depression known as the Great
Depression until the 1930s. It was caused by the fall in
demand for silver following Germany’s decision to
abandon the silver standard after the Franco-Prussian War.