1855 $3, DCAM PR(PCGS#98018)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3245

Grade

PR63DCAM

Price

168,000

Lot Description

Only for the rarest issues in U.S. coinage history, and on the rarest occasions, will the advanced collector have an opportunity to acquire an example of an issue that is not represented in the National Numismatic Collection at the Smithsonian Institution. The Proof 1855 three-dollar gold piece is one of these issues, and it is one of only two Proofs in this series not included in the NNC. The other is the Proof 1856 and, remarkably, an example of that issue from the Floyd T. Starr Collection is offered in this sale.<p>As with all pre-1859 U.S. Mint Proof gold issues, the mintage for the 1855 $3 in this format was not recorded and can only be estimated based on the number of specimens extant. Totals put forth by numismatic scholars since the turn of the 21st century have been fairly tight: Q. David Bowers and Douglas Winter wrote that three to five are known in their 2005 reference <em>The United States $3 Gold Pieces: 1854-1889</em>; Jeff Garrett and Ron Guth stated "only four or five examples known at present" in the 2008 edition of their <em>Encyclopedia of U.S. Gold Coins: 1795-1933</em>; John W. Dannreuther traced four distinct coins, and possibly a fifth, in the 2018 volume of his <em>United States Proof Coins</em> series; and <em>PCGS CoinFacts</em> reports that four or five are known. Since these are specially prepared and distributed coins that were meant to be saved, a total of five coins struck is a solid estimate for the mintage of the Proof 1855 three-dollar gold piece.<p>As of 2018, when the Dannreuther reference was published, only four survivors of this issue were positively confirmed to exist. Three had solid numismatic provenances; Dannreuther discusses the fourth at length:<p><em>...if the WGC-Kern coin and the Belden Roach coins are different (they may represent a single coin), there could be as many as five examples - no modern sale of either of these Proofs has been reported. The WGC example is interesting, as the prices realized for the sale notes "Out" instead of a price, possibly indicating that it was withdrawn. F.C.C. Boyd may have bought the Roach example, of course, so the sale of the Jerome Kern collection may represent a single coin. When cataloging the "Golden Jubilee" sale in 1950 that included Kern coins, B. Max Mehl noted that he could find no sales records in the last few decades, despite his selling the Roach example only six years earlier. It does appear that at least one other example likely exists even if the Boyd/WGC-Kern and Belden Roach coins are one and the same! The other three Proofs have solid provenances, so there should be a fourth coin in some numismatist's collection.</em><p>There is: the numismatist was Floyd T. Starr, and the fourth confirmed specimen is returning to the numismatic market through this sale for the first time since 1950. Whether or not it is also the Belden Roach coin remains unresolved.<p>Also unresolved are appearances for this issue in W. Elliott Woodward's 59th Sale, October 1883, lot 1397, and S.H. and H. Chapman's sale of the Richard B. Winsor Collection, December 1895, lot 324. Both, however, probably represent earlier appearances of one or two of the confirmed specimens.<p>Since publication of the Dannreuther census in 2018, PCGS has certified a Proof-55 for this issue, which brings the current roster of Proof 1855 three-dollar gold pieces to five:<p>1 - <strong>PCGS Proof-65+ Deep Cameo.</strong> Ex W. Elliott Woodward's sale of the John F. McCoy Collection, May 1864, lot 1987; Herman Ely; T. Harrison Garrett, to Robert and John Work Garrett, by descent, 1888; Robert Garrett interest to John Work Garrett, 1919, transfer completed 1921; John Work Garrett to The Johns Hopkins University, by gift, 1942; our (Stack's) sale of the John Work Garrett Collection for The Johns Hopkins University, March 1976, lot 393; Harry W. Bass, Jr. Foundation Collection; Heritage's sale of the Harry W. Bass, Jr. Core Collection, Part III, May 2023 CSNS Signature Auction, lot 4517.<p>2 - <strong>PCGS Proof-64 Cameo.</strong> Ex Thomas L. Elder's sale of the William H. Woodin Collection, March 1911, lot 1138; John H. Clapp; Clapp estate, 1942; Louis E. Eliasberg, Sr.; our (Bowers and Ruddy's) sale of the United States Gold Coin Collection (Eliasberg), October 1982, lot 275; Hugh Sconyers; Superior's session of Auction '85, July 1985, lot 934; Harry W. Bass, Jr.; our (Bowers and Merena's) sale of the Harry W. Bass, Jr. Collection, Part III, May 2000, lot 271; Larry Jackson; Heritage's November 2003 Signature Sale, lot 7434; Tom Bender Collection; Heritage's sale of the Bender Family Collection, Part III, February 2023 Long Beach Signature Auction, lot 3670.<p>3 - <strong>PCGS Proof-63 Deep Cameo.</strong> Ex F.C.C. Boyd; Numismatic Gallery's sale of the "World's Greatest Collection" (Boyd), January 1946, lot 270; Jerome Kern; B. Max Mehl's Golden Jubilee Sale, May 1950, lot 188; Floyd T. Starr Collection. <em><strong>The present example.</strong></em> Possibly earlier ex B. Max Mehl's sale of the Belden E. Roach Collection, February 1944, lot 806.<p>4 - <strong>Proof-63 Cameo.</strong> Ex "From a brother in the Cree family of North Carolina as a gift" (per John W. Dannreuther, 2018); Paramount's Lewis Collection sale, July 1977, lot 519; Ed Trompeter; Superior's sale of the Ed Trompeter Collection, February 1992, lot 97; Numismatic Professionals, LLC; Mike Storeim reported this coin stolen on November 27, 2003.<p>5 - <strong>PCGS Proof-55.</strong> D.L. Hansen Collection.<p>Although all of the known Proof 1855 threes are in private hands with none in any known museum collection, the Trompeter specimen has not been recovered and otherwise remains untraced as of this writing. Three of the remaining four are presumably already in strong hands, so our offering of the Floyd T. Starr specimen represents what could very well be a once in a lifetime bidding opportunity for the advanced Proof gold or three-dollar specialist.<p>This is an impressive specimen, the frosty motifs contrasting strongly with reflective fields, well deserving of the DCAM designation from PCGS. Fully struck down to the ends of every feather in Liberty's headdress and leaf vein in the wreath on the reverse, a small area of die polish within the third feather from the rear of the headdress is as made. Light hairlines from old collector handling and a faint finger mark over the lower left reverse help to explain the Proof-63 grade from PCGS; a faint vertical scratch in the left obverse field extending down from the first letter S in STATES and a couple of light scuffs in the right obverse field are offered as useful identifiers for provenance purposes. The eye appeal is strong, certainly superior for the assigned grade, and the awesome rarity of this issue combined with the coveted Starr provenance make this an irresistible offering for advanced numismatists.