1888 $3, CAM PR(PCGS#88052)

Spring 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3135

Grade

PR65CAM

Price

25,200

Lot Description

This is an exceptional Gem Cameo representative of the quintessential type issue in the challenging Proof three-dollar gold series. Reflective fields support fully impressed, frosty-textured devices and display vivid orange-olive color that enhances the eye appeal. Carefully preserved and impressively smooth, this lovely coin is worthy of the strongest bids. The 1888 has an unknown mintage that it usually listed as 291 pieces. According to Q. David Bowers and Douglas Winter in their 2005 reference on this series:<p><em>91 Proofs are verified as part of the total, with 1 coin delivered in February, 55 in March, 33 in May, and 2 in June. In addition, in April, 200 coins were to be delivered to the medal clerk, in charge of Proof coin sales, but were not delivered until July 19, and then for 'exchange,' whatever that meant. It is not certain if all of these were Proof strikings. If they were, the total production figure was 291, which seems slightly generous in view of the number estimated today. Possibly 291 were struck, but not all were sold. Nothing has been found in the literature to indicate an especially large collector demand for Proofs in this particular year.</em><p>The authors provide for 120 to 150 coins extant, <em>PCGS CoinFacts</em> estimates 150 to 200 survivors, and John W. Dannreuther (2018) offers a range of 110 to 130. The <em>PCGS CoinFacts</em> range, in particular, seems a bit high in our experience and is probably based, at least in part, on resubmissions swelling third-party certification populations. One thing is certain - at the Proof-65 Cameo grade level the present example offers undeniable strike and condition rarity and will appeal to the most advanced Proof gold enthusiasts.