Description and Analysis

Three Dollar Gold
1882 $3 PF

Description & Analysis

In 1882, the Philadelphia Mint was busy pumping out over 11 million Morgan silver dollars, most of which ended up sitting in government vaults. Due to this huge silver dollar mintage, the production of other denominations suffered greatly. For example, only a mere 1500 business strike and 76 proof $3 gold pieces were struck that year. The mint-state pieces all feature a re-punched 2 in the date, which can help to differentiate proof like examples from actual proofs.

It seems a fair number of the mint state coins were saved, however, as NGC has over 260 examples in its census. Many are on the lower end of mint state, however. In contrast, only 33 proof examples have been seen by NGC, which actually represents a much higher survival rate than the mint state coins. (11/2016)