1878 $3, CAM PR(PCGS#88042)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3265

Grade

PR67+CAM

Price

348,000

Lot Description

An exquisite, unsurpassed example of this rare and seldom offered issue from the challenging three-dollar gold series. Fully defined with a softly frosted texture, the devices appear to float atop deep reflectivity in the fields. When examined with the aid of magnification the fields reveal the textured "orange peel" finish seen so often on late 19th century Proof gold coins from the United States Mint. Displaying warm rose-gold color, a touch of light haziness is also present, more so on the reverse, confirming the awesome originality of this piece. Virtually pristine in preservation and exceptionally attractive, this dazzling Superb Gem Proof will serve as a highlight in the finest numismatic cabinet.<p>While the circulation strike 1878 is easily the most plentiful three-dollar gold piece in numismatic circles, the associated Proof is a major rarity. The Proof mintage is just 20 pieces, all of which were delivered on February 9, 1878. On that date the U.S. Mint Cabinet acquired its example as part of a complete 1878 Proof set, which is still part of the National Numismatic Collection in the Smithsonian Institution. Most examples appear to have been distributed into contemporary cabinets, but with so few coins struck to begin with, survivors are elusive. Estimates on the number extant vary somewhat, with Q. David Bowers and Doug Winter (2015) accounting for just 10 to 12 coins, <em>PCGS CoinFacts</em> providing a slightly more liberal range of 14 to 16 pieces, and John W. Dannreuther taking the middle of the road with 12 to 14 per his 2018 reference <em>United States Proof Coins</em>.<p>The Dannreuther census traces 13 distinct specimens. The finest in that group to appear at auction in the modern market is the Trompeter specimen that, as PCGS Proof-66+ Deep Cameo, sold through Great Collections in April 2022. The emergence of the Floyd T. Starr specimen after 88 years off the market increases the confirmed roster to 14 coins while simultaneously rewriting the uppermost echelons of the census for this rare issue. It now ranks as the finest known Proof 1878 $3, its only rival for this distinction the coin associated with a grading event at Proof-67 Ultra Cameo listed in the current online version of the <em>NGC Census</em>. Combining absolute and condition rarity, superior technical quality, abundant eye appeal, and a legendary numismatic provenance, this is a coin that will check all the boxes for even the most advanced Proof gold enthusiast.