1866 $3, DCAM PR(PCGS#98029)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3254

Grade

PR66+DCAM

Price

264,000

Lot Description

Unrivaled and unsurpassed quality, abundant eye appeal and impressive provenance combine to establish this coin as the finest known Proof 1866 three-dollar gold piece. Deeply mirrored fields reveal a subtle "orange peel" texture when observed with a loupe. These fields serve as a splendid backdrop to devices that are fully struck with a billowy frosty texture. The surfaces are vivid deep yellow-gold and border on numismatic perfection. Extraordinary!<p>The chaos wrought by the Civil War created an environment that was not conducive to either the production or retention of Proof gold coins; this situation continued throughout much of the Reconstruction era. With little bullion reaching the Philadelphia Mint while gold specie payments were in suspension in the Eastern States, even circulation strike mintages were limited from 1862 forward. Three-dollar gold pieces, never popular in commerce, saw only 4,000 coins produced in that format in 1866. Few Proofs were struck as well, as the Mint anticipated weak sales as otherwise ardent collectors were distracted by the war and its aftermath. Only 30 Proof 1866 $3 coins were struck. The mintage was achieved in two batches, on January 15 and June 8, and only 10 to 12 coins are believed extant (per John W. Dannreuther, 2018).<p>This is only the second Proof 1866 $3 gold that we have handled in more than a decade, not surprising given the rarity of the issue. It follows our April 2022 offering of the Eliasberg specimen which, as part of the Huberman Collection, realized $192,000. Certified Proof-66 Deep Cameo by PCGS, the Eliasberg-Huberman coin was the finest Proof 1866 $3 known at that time.<p>Unbeknownst to modern numismatic researchers, however, the present specimen remained tucked away as part of the Floyd T. Starr Collection, in which it resided since acquired by Mr. Starr from Hollinbeck's November 1958 222nd Sale. Confirmed as the finest known by PCGS at the remarkable Proof-66+ Deep Cameo grade, this Gem Proof is a landmark rarity, the inclusion of which would put any cabinet on the numismatic map. Clearly, only the strongest bids will be competitive when this phenomenal gold rarity comes up for auction.