The 1869 is scarce in all grades and especially so in AU condition. Only 2,500 circulation strikes were produced. An interesting feature regarding the 1869 was noted in Bowers' 1987 Saunders auction: The final digit is more heavily punched in the die than the other digits, leading one to suspect a three-digit punch was used for the date with the last digit to be filled in. Because of the tiny mintages in the three dollar series, the use of such a three-digit punch would have maximized economy and flexibility.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.