1858 $3, CAM PR(PCGS#88021)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3279

Grade

PR65+CAM

Price

192,000

Lot Description

A landmark rarity in the extremely challenging Proof three-dollar gold series, under normal market circumstances this early date in the series is rarely encountered in this format - and with good reason. In 1858, the United States Mint was just beginning to ramp up yearly Proof coinage and sales in response to the sharp increase in the popularity of coin collecting during the late 1850s. While distribution of silver Proof sets and some singles increased markedly in 1858, the Proof gold coin mintages did not increase sharply until 1859. The gold sets were far more costly to acquire, as expected, and even with some coins acquired as singles many of the 80 Proof $3s produced in 1859 were melted or released into circulation when they failed to sell. The same happened with the 1858 Proofs, although with only 20 struck, this issue is understandably far rarer than its already rare 1859 counterpart.<p>Estimates on the number of Proof 1858 three-dollar gold pieces extant are usually quoted as eight to 10 pieces based on the ranges provided by both <em>PCGS CoinFacts</em> and John W. Dannreuther (2018). Ron Guth of the Numismatic Detective Agency, however, provides a roster of 13 distinct specimens, including the Mint Cabinet coin that is now in the National Numismatic Collection at the Smithsonian Institution, and at least one example that is impaired. Our offering of the Floyd T. Starr specimen in this sale, which has been off the market since 1942, brings the Guth census up to 14 specimens. But regardless of whether eight to 10 are known or 14, this is obviously an exceedingly rare issue.<p>The present specimen is the famous Trompeter coin, and it is a dazzling Gem Cameo Proof that is currently the single finest example of the issue known to PCGS. (The <em>NGC Census</em> reports a single grading event in Proof-66 * Cameo.) Fully struck and satiny in texture, the design elements offer strong contrast with reflective fields. This coin was lightly and expertly dipped between its 2015 and 2016 auction offerings, obviously to bring out the cameo contrast and secure a CAM designation from PCGS. On the debit side, however, the color is not as deep or original as it once was, although it remains highly attractive in a warm orange-gold hue that many collectors will find irresistible. A subtle orange peel texture to the finish also remains visible in the fields, although only under close scrutiny with a loupe. Nicely preserved and free of readily evident handling marks, tiny lint marks (as made) in the obverse field low between the words UNITED and STATES, off Liberty's chin, and under the letter I in UNITED serve as the most useful provenance markers.