Description and Analysis

Three Dollar Gold
1883 $3 MS

Description & Analysis

In 1883, the Philadelphia Mint was busy pumping out over 12 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 900 business strike and 89 proof $3 gold pieces were struck in 1883.

It seems a fair number of the mint state coins were saved, however, as NGC has over 130 examples in its census. Many are on the lower end of mint state, however. In contrast, only 37 proof examples have been seen by NGC, which actually represents a much higher survival rate than the mint state coins.