1874 Three Dollar Gold Piece // PCGS Certified AU58 // Wood Presentation Box

In 1845, the United States introduced the first postage stamps at rate of five cents each. In 1851, the postage rate was decreased to three cents, and Congress authorized the coinage of the tiny silver three-cent piece as a convenient option for purchasing stamps. This logic was expanded in 1853 with the introduction of the $3 gold piece. It was hoped that the new large coin would facilitate the purchase of 3-cent stamps by the sheet and of 3-cent coins by the roll.

Chief Engraver James B. Longacre chose an Indian Princess motif for the obverse of the new coin-- a profile modeled after the Greco-Roman Venus Accroupie statue on display in the Philadelphia museum. On this coin, Miss Liberty wears a feathered headdress of equal-sized plumes with a band inscribed with LIBERTY. This headdress dates to the earliest known drawings of American Indians. The reverse depicts a wreath of tobacco, wheat, corn, and cotton with a plant at top bearing two conical seed masses. Encircled by the wreath is the denomination 3 DOLLARS and the date.

Despite a lifespan of 35 years, the three-dollar gold piece never lived up to initial expectations and was generally met with a lukewarm reception by the public. Mintage figures were generally low, and by all accounts most dates of 3-dollar gold pieces can be considered scarce or rare today. Very few mint-state specimens survive, and decent examples of any grade are sought after by collectors. You will receive the unique coin shown in the photos housed in a plush-lined box with a certificate of authenticity.