1882 $3 MS(PCGS#8004)

Spring 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3133

Grade

MS64+

Price

13,200

Lot Description

This exquisite, fully struck $3 gold piece is bathed in intense mint luster. The finish displays a soft frosty texture, although when observed with the aid of direct light the fields are modestly semi-reflective. The color is attractive rose and orange with flickers of pale pinkish-apricot. Few survivors of this popular low mintage issue even approach the quality and appearance of this delightful near-Gem, much less match or exceed it.<p>By 1882, the $3 gold piece had long since fallen out of favor in commercial channels. With the exception of isolated surges in production in 1874 and 1878, yearly circulation strike mintages for this denomination had been extremely limited since the late 1850s. The mintage for the 1882 was 1,500 circulation strikes, delivered alongside a paltry 76 Proofs. All of these coins are attributed to the Philadelphia Mint.<p>Many circulation strikes of this date were undoubtedly melted after remaining in Mint stocks as opposed to being paid out to banks. Enough were paid out, however, that earlier generations of numismatists were eventually able to secure a few hundred coins. By that time, however, most examples had already acquired wear. Of the 260 to 320 circulation strikes estimated to exist in all grades, Q. David Bowers and Doug Winter (<em>The United States $3 Gold Pieces: 1854-1889</em>, 2005) allow for no more than 180 Mint State coins, and with most in lower grades through basal MS-64, anything finer is a prime condition rarity in today's market.