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U.S. Small Gold Coins

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★★★★★ Liberty Head Gold Dollar ★★★★★

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Liberty Head Gold Dollar coin (Type 1) Obverese Liberty Head Gold Dollar coin (Type 1) reverse

Type 1 Liberty Head
(1849-1854)

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Liberty Head Gold Dollar coin (Type 2) Obverse Liberty Head Gold Dollar coin (Type 2) Reverse

Type 2 Indian Princess
Small Head (1854-1856)

When the US system of coinage was designed, plans for a gold dollar coin were not included, but after two U.S. gold rushes, Congress wanted to expand the use of gold.

A North Carolina jeweler named Christoph Bechtler was capitalizing on the gold rush, by offering to turn raw gold into coins. Bechtler's success caught the attention of the Congress and several members suggested the US Mint take part in this new, profitable venture by minting gold dollars of their own.

The gold dollar was authorized (making it the smallest coin in the history of US coinage). Because of larger quantities, new mints were opened at Charlotte and Dahlonega.

Because it was so small (13mm), it was easily lost making many critical of the new coin. So, the Mint began experimentation with new designs. Since the weight could not be changed, they tested wider, thinner, with a hole in the center, etc.

Minor Variations of Type 1

Mint Director Robert M. Patterson opposed the idea vehemently and limited his compliance to striking a handful of patterns. The gold dollar didn't really take its place in the U.S. coinage lineup until 1849 when yet another gold rush (this one in California) energized Congress to expand uses of the metal and find some new uses.

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Liberty Head Gold Dollar coin (Type 3) Obverse Liberty Head Gold Dollar coin (Type 3) Reverse

Type 3 Indian Princess
Large Head (1856-1889)

The gold dollar and double eagle, the smallest and largest regular-issue gold coins in U.S. history. Both coins were intended to comply with the coinage act of March 3, 1849. Objections arose almost at once to the original dollar's tiny size: at 13 millimeters in diameter, it was more than one fourth smaller than a Roosevelt dime, and critics complained that this made it easy to lose. While under consideration, coins with holes seemed the most likely alternative. But, the process took a different turn in 1853, when Snowden became the new director of the Mint. Snowden agreed that the gold dollar should be larger, but, he advocated making the coin thinner. The task fell to Chief Engraver Longacre and, at the same time, create a new design.

In 1854 the US Mint increased the diameter to 15 mm. Its weight and composition was not changed. Longacre's new obverse design was based on the three-dollar piece. The coin is commonly called Indian princess. Historians suggest the design is based on a Roman statue with a headdress.

The reverse of the gold dollar was modified and the inscription UNITED STATES OF AMERICA was moved to the obverse. Basically, the wreath design remained unchanged. But the height of the relief prevented many coins from being fully struck, therefore the design was not sturdy enough for circulation and the Mint began to redesign the coin again.

In 1856, a redesigned gold dollar was released by the Mint. Often called the Large Head type, Longacre's new design was similar to the earlier type. The size of the Indian head was made larger, flatter, the headdress moved, and the face was slightly changed.

In 1889, production of the gold dollar was discontinued, but the coin remained popular in some areas until the country abandoned the gold standard in the 1930s.

  

Liberty Head Type 1 Specs.

Designer: James Barton Longacre
Content: 90% gold 10% other
Diameter: 12.7 millimeters
Edge: Reeded
Weight: 1.7 grams
Mint Mark Legend: Just below the wreath on the reverse.
Type 2 Indian Princess Specs.

Designer: James Barton Longacre
Content: 90% gold 10% silver and copper
Diameter: 14.3 millimeters
Edge: Reeded
Weight: 1.7 grams
Mint Mark Location: Just below the wreath on the reverse.

Liberty Head Type 1, 2 & 3 Mintage

Date/Mint Circulation Strikes Date/Mint Circulation Strikes Date/Mint Circulation Strikes Date/Mint Circulation Strikes
Type 1 Liberty Head
1849 688,567 1849-C 11,634 1849-D 21,588 1849-O 215,000
1850 481,953 1850-C 6,966 1850-D 8,382 1850-O 14,000
1851 3,317,671 1851-C 41,267 1851-D 9,882 1851-O 290,000
1852 2,045,351 1852-C 9,434 1852-D 6,360 1852-O 140,000
1853 4,076,051 1853-C 11,515 1853-D 6,583 1853-O 290,000
1854 855,502 1854-D 2,935
1854-S 14,632
Type 2 Small Head
1854 783,943
1855 758,269 1855-C 9,803 1855-D 1,811 1855-O 55,000
1856-S 24,600
Type 3 Large Head Mintage
1856 1,762,936 1856-D 1,460
1857 774,789 1857-C 13,280 1857-D 3,533
1857-S 10,000
1858 117,995 1858-D 3,477
1858-S 10,000
1859 168,244 1859-C 5,235 1859-D 4,952 1859-S 15,000
1860 36,514 1860-D 1,566 1860-S 13,000
Civil War - D, C & O Mints Closed
1861 527,150
1862 1,361,355
1863 6,200
1864 5,900
1865 3,700
1866 7,100
1867 5,200
1868 10,500
1869 5,900
1870 6,300 1870-S 3,000
1871 3,900
1872 3,500
1873 125,100
1874 198,800
1875 400
1876 3,200
1877 3,900
1878 3,000
1879 3,000
1880 1,600
1881 7,620
1882 5,000
1883 10,800
1884 5,230
1885 11,156
1886 5,000
1887 7,500
1888 15,501
1889 28,950

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★★★★★ Quarter Eagle 2½ Dollar Gold ★★★★★

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Draped Bust $2.5 Dollar gold coin (Type 1) Obverse Draped Bust $2.5 Dollar gold coin (Type 1) Reverse

Type 1 Capped Facing right
No Stars on Obverse (1796)

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Draped Bust $2.5 Dollar gold coin (Type 2) Obverse Draped Bust $2.5 Dollar gold coin (Type 2) Reverse

Type 2 Capped Facing right
16 Stars on Obverse (1796)

At the turn of the 19th century, two and a half dollars represented a considerable sum of money (five days wages for the average U.S. Mint employee). It was unlikely however, that anyone outside the Philadelphia Mint would see that amount in the form of the new quarter eagle coin (so few were made), and even fewer were circulated. That denomination of coins may as well not even existed. Occasionally a large Northeastern banks ordered a few quarter eagles, but this was apparently more on a whim and usually not out of necessity. Most stayed in their vaults.

The first delivery of the quarter eagle, or $2½, was not made until the autumn of 1796, making them the last of the three gold denominations to be coined in gold.

These coins bear Robert Scot's bust of Liberty facing right, clad in a loose-fitting gown and tall cap which is often mistakenly refered to as a "turban". A total of just 963 pieces was recorded for the year. This first emission lacked stars on the obverse, making it unique among coins of that design. This first quarter eagles may have been a test of a proposed starless obverse.

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Draped Bust $2.5 Dollar gold coin (Type 3) Obverse Draped Bust $2.5 Dollar gold coin (Type 3) Reverse

Type 3 Capped Facing right
13 Stars on Obverse
8 stars left 5 stars right

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Draped Bust 6/7 stars obverse Draped Bust 6/7 stars reverse

Type 4 Capped Facing right
13 Stars on Obverse
6 stars left 7 stars right

The Heraldic Eagle reverse of this type is an adaptation of the Great Seal of the United States of America. Starless Draped Bust quarter eagles were poorly made, when judged by the standards usually applied to gold coins. Low mintage and poor quality place the Starless Quarter Eagles among the most expensive and highly sought coins in the United States series.

Sixteen Stars were added, one for each state in the United States at that time. It soon became obvious that as the number of States grew, placing enough stars on a coins to represent each State was increasingly difficult. The total number of stars had to be limited at some point.

Even after the Mint was ready for production of gold coins, few quarter eagles were produced. Depositors preferred the larger half eagles and eagles. These coins bear Robert Scot's original bust of Liberty facing right, clad in a loose- fitting gown and tall cap. It was decided that the proper number of stars should be thirteen, and thereby represent each of the original colonies that came together and formed the United States.

Bearing the large Heraldic eagle patterned, after the Great Seal of the United States, the ribbon in the eagle's beak extends left and right and bears the inscription E PLURIBUS UNUM. The eagle holds a bundle of arrows (eight are visible) in its dexter claw and an olive branch in its sinister claw.

Eventually, the same logic was used to determine the number of stars on the reverse of the coin, and was reduced to thirteen.

  

Liberty facing right Quarter Eagle Specs. & Mintage

Date/Mint Circulation Strikes
All 3 Types
1796 1,368
Type 3 Only
1797 427
1798 1,094
1802 3,035
1804 3,327
1805 1,781
1806 1,616
1807 6,812
Designer: Robert Scot
Content: 90% gold 10% other
Diameter: 18 millimeters
Edge: Reeded
Weight: 4.18 grams
Mintmarks: None (Philadelphia)





Liberty Capped Facing Right Quarter Eagle Grading

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Liberty Capped facing left ¼ Eagle 1808 - 1834

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Capped Bust $2.5 Gold coin (Type 1) Obverse Capped Bust $2.5 Gold coin (Type 1) Reverse

Type 1 Capped facing leftt
(1808)

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Capped Bust $2.5 Gold coin (Type 2) Obverse Capped Bust $2.5 Gold coin (Type 2) Reverse

Type 2 Capped facing left
Large Diameter, 1821-1827

John Reich's design was struck in just 1808, and of the 2,710 pieces minted fewer than 2% exist today (35-40 pieces). It is suggested the low survival rate may be due to the weak borders which exposed the coin to heavy wear. Since only one set of dies was prepared for quarter eagles in 1808, it seems obvious the Mint did not intend to strike a large quantities of the coin, but early die failure probably limited production to far fewer quarter eagles than officials had intended.

Walter Breen suggested banks simply preferred half eagles to quarter eagles and this was why such a small mintage in 1808 and a twelve year gap before being issued again. This would explain the high mintage of the half eagle in the 19th century, but raises question about production of the eagle.

After the 12-year halt in the production, uncertain world political events combined with higher gold prices to caused gold coins to disappear from circulation. For unknown reasons, several Banks requested quarter eagle coins in 1821.

Chief Engraver Robert Scot was responsible for designing the issue, he adapted a design from a earlier John Reich motif instead of making a new one. On the obverse, Liberty faces left and her mobcap is smaller than the one on the 1808 pieces, this made room for the stars along with the date at the bottom to form a circle. The reverse received only slight modifications (lower wing feathers).

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Capped Bust $2.5 Gold coin (type 3) Obverse Capped Bust $2.5 Gold coin (type 3) Reverse

Type 3 Capped facing left
Reduced Diameter 1829-1834

All business strike Capped Head Left, Large Diameter quarter eagles are scare to rare; census/ population totals are 100+ for only 1825. The only certified proof date is the 1821 (fewer than 10 coins).

After the death of Robert Scot in 1823, William Kneass (appointed his successor) received a mandate to improve existing designs instead of creating new designs. Kneass "cleaned up" Scot's design of the quarter eagle, he reduced the size of the letters, dates, stars, and modified Liberty's portrait.

The most significant change was the introduction of the "collar die" in 1828. This new process added reeding to the edge of the planchet (previously a separate operation) and ensured uniformity of a coins diameter. Collar dies also produce higher rims on the coins protecting the surface features.

Because of the melting of gold coins, their weight was reduced in 1834. This made bullion prices less than face value.

Business strikes of the Capped Head Left, Small Diameter quarter eagles are scare to rare; census/ population totals never exceed 150 coins for any given year (totals likely including resubmission).

These coins are invariably weak at the rims and softly struck on the peripheral stars. Because of this, care must be taken to differentiate actual wear from the effects of a weak strike. On the obverse, friction first begins to show above the eye and on top of the cap. Wear on the reverse is first evident on the eagle's wing tips and talons.

  

Capped Bust Quarter Eagle Specs. & Mintage

Date/Mint Circulation Strikes
Type 1
1808 2,710
Type 2
1821 6,448
1824 2,600
1825 4,434
1826 760
Type 3
1827 2,800
1829 3,403
1830 4,540
1831 4,520
1832 4,400
1833 4,160
1834 4,000
Designer: John Reich
Content: 91.7% gold 8.3% other
Diameter: 18.2 mm
Weight: 4.37 grams
Edge: Reeded
Mint Mark: None (all were struck in Philadelphia)










Liberty Capped Facing Left Quarter Eagle Grading

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Classic Head "Quarter Eagle" (1834 - 1839)

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Classic Head $2.5 gold coin Obverse Classic Head $2.5 gold coin Reverse

Classic Head ¼ Eagle

Gold quarter eagle production remained low for as long as they were produced. The quarter eagle was less than popular, partially because they were worth more than $2.50 for the gold content.

In 1831, according to National Archive records, some 40,000 US half eagles were melted down in Paris for their gold content. Congress responded to this by passing the Act of June 28, 1834 which reduced the gold content of the quarter eagle by 0.19 grams. This was enough to make it unprofitable to melt down gold coins.

When William Kneass redesigned the quarter eagle, he opted for a earlier design that had been used on the cent and half cent in the early part of the century. The design was heavily criticized saying the new design was "neither as complex in detail nor as refined in execution" as the preceding design. The new design was also described as being genderless, the hairdo and fillet (the narrow headband) were more appropriate for ancient Greek male athletes.

Prices are reasonably uniform for all dates. The price for most dates up to AU55 are modest, up to near-Gem they are expensive, and very expensive at Gem and higher. Quarter eagles minted at Charlotte and Dahlonega are usually priced higher than Philadelphia and, to a lesser extent, New Orleans. All proofs are very expensive to PR62, and extremely expensive as PR63 and finer.

       

Classic Head "Quarter Eagle" Specs.

Designer: William Kneass
Content: 90% gold 10% other
Diameter: 17.5 millimeters
Edge: Reeded
Weight: 4.18 grams
Mint Mark Location: On the obverse above the date.
Classic Head "Quarter Eagle" Mintage

Date/Mint Mark Circulation Strikes
1834 112,234
1835 131,402
1836 547,986
1837 45,080
1838 47,030
1838-C 7,880
1839 27,021
1839-C 18,140
1839-D 13,674
1839-O 17,781

Classic Quarter Eagle Grading

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Liberty Head (Coronet) ¼ Eagle (1840 - 1907)

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Coronet $2.5 gold coin Obverse Coronet $2.5 gold coin Reverse

Liberty Head ¼ Eagle
(1840 - 1907)

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Coronet $2.5 gold (CAL) coin Obverse Coronet $2.5 gold (CAL) coin Reverse

1848 "CAL" Quarter Eagle

Christian Gobrecht's redesign goal was "to both standardize the design and find an acceptable representation that could be used for a long period of time." The change in the reverse design was small. On the obverse, the depiction of Liberty and the earlier rendering of Liberty are quite different, but the general presentation is very similar.

The "Coronet Liberty", often said to have made her first appearance on the 1838 gold eagle, actually made a couple of appearances before that, the "Braided Hair" half cent, and the "Matron Head" large cent. Therefore, this was more of an adaptation of an older design.

The heraldic eagle on the reverse has its wings spread from rim to rim and the union shield covering its breast. It holds a olive branch in its right claw which represents the country's peaceful intentions. In the eagle's left claw are three arrows representing America's military preparedness.

An unusual development took place in 1848, the military governor of California sent 230 ounces of gold to the Secretary of War who had it coined at the Philadelphia mint, but with CAL on the reverse.

To this day, a controversy still looms over the coins: was this the first commemorative coin (many years before the 1892 Columbian half dollar), or is this simply another variation of the quarter eagle?

Because of the recovery of many coins of those dates from European caches some low mintage quarter eagles from the 1880's are more available than you may have expected. Tens of thousands of business strike Liberty Head quarter eagles have been certified, including a number of proof like pieces.

Between 1840 and 1907, a total of 11,921,171 Coronet quarter eagles were struck at five mints: Philadelphia (no mint mark), Charlotte (C), Dahlonega (D), New Orleans (O), and San Francisco (S). Mintmarks can be found on the lower reverse beneath the eagle.


       

Liberty Head (Coronet) Specs.

Designer: Christian Gobrecht
Content: 90% gold 10% other
Diameter: 18 millimeters
Edge: Reeded
Weight: 4.18 grams
Mint Mark Location: On the reverse below the eagle.
Liberty Head (Coronet) Mintage

Date/MintCirculation Strikes Date/MintCirculation Strikes Date/MintCirculation Strikes Date/MintCirculation Strikes
184018,859 1840-C12,822 1840-D3,532 1840-O33,580
1841-C10,281 1841-D4,164
18422,823 1842-C6,729 1842-D4,643 1842-O19,800
1843100,546 1843-C26,064 1843-D36,209 1843-O364,002
18446,784 1844-C11,622 1844-D17,332
184591,051 1845-D19,460 1845-O4,000
184621,598 1846-C4,808 1846-D19,303 1846-O62,000
184729,814 1847-C23,226 1847-D15,784 1847-O124,000
18487,497 1848-C16,788 1848-D13,771
1848 CAL1,389
184923,294 1849-C10,220 1849-D10,945
1850252,923 1850-C9,148 1850-D12,148 1850-O84,000
18511,372,748 1851-C14,923 1851-D11,264 1851-O148,000
18521,159,681 1852-C9,772 1852-D24,078 1852-O140,000
18531,404,668 1853-D 3,178
1854596,258 1854-C7,295 1854-D1,760 1854-O153,000
1854-S246
1855235,480 1855-C3,677 1855-D1,123
1856384,240 1856-C7,913 1856-D874 1856-O21,100
1856-S72,120
1857214,130 1857-D2,364 1857-O34,000
1857-S69,200
185847,377 1858-C9,056
185939,364 1859-D2,244
1859-S15,200
186022,563 1860-C7,469
1860-S35,600
Civil War no More "D", "C" or "O" Coins

Date/Mint Circulation Strikes Date/Mint Circulation Strikes
1861 1,283,788 1861-S 24,000
1862 98,508 1862-S 8,000
1863-S 10,800
1864 2,824
1865 1,520 1865-S 23,376
1866 3,080 1866-S 38,960
1867 3,200 1867-S 28,000
1868 3,600 1868-S 34,000
1869 4,320 1869-S 29,500
1870 4,520 1870-S 16,000
1871 5,320 1871-S 22,000
1872 3,000 1872-S 18,000
1873 178,000 1873-S 27,000
1874 3,920
1875 400 1875-S 11,600
1876 4,176 1876-S 5,000
1877 1,632 1877-S 35,400
1878 286,240 1878-S 178,000
1879 88,960 1879-S 43,500
One Mint in Production
1880 2,960
1881 640
1882 4,000
1883 1,920
1884 1,950
1885 800
1886 4,000
1887 6,160
1888 16,001
1889 17,600
1890 8,720
1891 10,960
1892 2,440
1893 30,000
1894 4,000
1895 6,000
1896 19,070
1897 29,768
1898 24,000
1899 27,200
1900 67,000
1901 91,100
1902 133,540
1903 201,060
1904 160,790
1905 217,800
1906 176,330
1907 336,294

Liberty Head Quarter Eagle Grading

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Indian Head "Quarter Eagle" 1907 - 1929

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Indian Head $2.5 gold coin Obverse Indian Head $2.5 gold coin Reverse

Indian Head Quarter Eagle
(1907 1929)

Dr. William Sturgis Bigelow, a physician, close friend of President Roosevelt, art collector from Boston and an admirer of Egyptian reliefs convinced President Roosevelt that the use of sunken designs on American Coins was a good idea. Since the Liberty Head quarter eagle had been minted since 1840 and the Liberty Head half eagle since 1839, they seemed good candidates for redesign.

Saint-Gaudens died in 1907, so Bigelow apparently contacted and persuaded Bela Lyon Pratt, a fellow Bostonian and former student of Saint-Gaudens to create a design for the gold coins. Pratt used Smillie's portrait of a Sioux Chief on the 1899 $5 silver certificate. The reverse displayed a standing eagle which was a virtual copy of the design Saint-Gaudens had used on both a Roosevelt inaugural medal and the Indian Head eagle.

In spite of the fact that the sunken design (with devices and legends below the fields) promised to reduce wear on the features, Philadelphia coin dealer Samuel H. Chapman and others vigorously opposed the design. Their argument was that the recessed areas would collect dirt and thus become a disease source. Still others found fault with both the portrait and the eagle. They also claimed that the coins were easy to counterfeited. Some even argued the (rimless and flat) coins would not stack properly. They did not sway the President, and the new design was implemented.

Thousands of business strikes of the Indian Head quarter eagles have been certified, however, counts are much higher for the examples produced in the 1920s. Prices are modest for most dates through MS62, expensive to Gem, and very expensive at higher grades; 1914 pieces are very expensive at MS62 and higher.

Matte proofs were made from 1908 through 1915, but only a few hundred examples have been certified. The reason for this is that the matte finish was not popular with collectors at the time, and many unsold pieces were melted at the Mint.

       

Indian Head "Quarter Eagle" Specs.

Designer: Bela Lyon Pratt
Content: 90% gold 10% copper
Diameter: 18 millimeters
Edge: Reeded
Weight: 4.18 grams
Mint Mark Legend: Left of the arrowheads on the reverse.
Indian Head "Quarter Eagle" Mintage

Date/Mint Circulation Strikes
1908 564,821
1909 441,760
1910 492,000
1911 704,000
1911-D 55.680
1912 616,000
1913 722,000
1914 240,000
1914-D 448,000
1915 606,000
1925-D 578,000
1926 446,000
1927 388,000
1928 416,000
1929 532,000

Indian Head Quarter Eagle Grading

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★★★★★ $3 Gold ★★★★★

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Three Dollars gold coin Obverse Three Dollars gold coin Reverse

3 Dollar Indian Princess
(1854 1889)

The prevailing theory on the origin of the Three Dollar coin is that it was intended to make it convenient to purchase three cent stamps (which in 1851 had just dropped from five cents) in bulk by allowed the public to buy sheets of the new stamps without having to carry Large Copper Cents or the tiny silver Three Cent pieces.

James Barton Longacre (Chief Engraver for the mint) chose an Indian Princess for the obverse of the coin, actually the profile modeled after the Greco-Roman Venus Accroupie statue then in a Philadelphia museum and not a actual Native American. Longacre used this distinctive profile for his gold dollar of 1849, he also would employ it again on the Indian Head cent beginning in 1859.

The reverse depicts a wreath of tobacco, wheat, cotton and corn with a plant at top bearing two seed masses. The denomination 3 DOLLARS and the date is encircled by the wreath. There are two different reverse types, the first was the small "DOLLARS" which appeared only in 1854. The second was the large "DOLLARS" which appeared throughout the life of the issue. Many dates have a bold "outlining" of letters and other devices, which is often mistaken for a double strike. More likely, this is the result of excessive forcing of the design punches, causing a slight appearance of sloping "shoulders". Sometimes, this is thought to be part of the coin's design.

Click to compare Large & Small examples.

Three dollar gold pieces were struck at four mints: Philadelphia, San Francisco, New Orleans and Dahlonega. This was a very unpopular denomination and mintages were extremely limited. This makes it very difficult to complete a collection of the denomination.

       

3 Dollar Specs.

Designer: James Barton Longacre
Content: 90% gold 10% other
Diameter: 20.5 millimeters
Edge: Reeded
Weight: 5.02 grams
Mint Mark Location: Below the wreath on the reverse.
3 Dollar Mintage

Date/Mint Circulation Strikes Date/Mint Circulation Strikes
1854 138,618 1854-D 1,120
1854-O 24,000 1855 50,555
1855-S 6,600 1856 26,010
1856-S 34,500 1857 20,891
1857-S 14,000 1858 2,133
1859 15,558 1860 7,036
1860-S 4,408 1861 5,959
1862 5,750 1863 5,000
1864 2,630 1865 1,140
1866 4,000 1867 2,600
1868 4,850 1869 2,500
1870 3,500 1870-S 2?
1871 1,300 1872 2,000
1873 About 100 1874 41,800
1877 1,468 1878 82,304
1879 3,000 1880 1,000
1881 500 1882 1,500
1883 900 1884 1,000
1885 801 1886 1,000
1887 6,000 1888 5,000
1889 2,300

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