1882 Three Dollar Gold - 1882 $3 Three Dollars Gold PCGS MS62

1882 $3 (1882 Three Dollars Gold), PCGS MS62. Fresh PQ. Mtg 1500. From a business-strike mintage of just 1,500 pieces, this scarce 1882 $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.