The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
While the mintage of 214,200 pieces is unimpressive, the survivorship of the Open 3, No Arrows halves is exceptionally low. To understand why, think of this date as being struck in three different periods. First, the Closed 3 coins were produced. Second, the Open 3 halves were struck after it was discovered that the 3 in the date more closely resembled an 8 than a 3. It was during this period that this coin was minted. Third, the weight was slightly altered and arrows placed on each side of the date to signify the change. An unknown but apparently large percentage of the mintage was melted in order to produce the With Arrows coins, thus creating a No Arrows rarity.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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