1880 $3, DCAM PR(PCGS#98044)

Summer 2025 Global Showcase Auction U.S. Coins

Commissaire-priseur

Stack's Bowers

Numéro du lot

3267

Grade

PR68DCAM

Prix

312 000

Description du lot

A coin of singular beauty, virtually unrivaled and certainly unsurpassed quality, and tremendous significance. In short, this is a landmark coin for the Proof three-dollar gold series of 1854 to 1889. When connoisseurs of late 19th century U.S. Mint Proof gold think of perfection, this coin is what they should envision. Fully struck, heavily frosted design elements are set against deeply mirrored reflectivity in the fields, resulting in a finish that is starkly cameo and unimprovable. Close inspection with a loupe also reveals the subtle "orange peel" texture in the fields that advanced Proof gold collectors find so appealing. The level of preservation is just as impressive as the quality of strike, the surfaces as smooth and untroubled as the day the coin emerged from the dies. There are a few faint traces of mint frost in the obverse field, most notably at lower left, and of course these are as made; a few wisps of pale tinting engage the upper left obverse border and portions of the wreath and denticulation on the reverse. Otherwise the appearance is wholly dominated by both the aforementioned deep cameo finish and luxurious deep golden-yellow color. In a word: exquisite.<p>The Philadelphia Mint struck just 36 Proof three-dollar gold pieces in 1880. Writing in the excellent 2005 reference <em>The United States $3 Gold Pieces: 1854-1889</em>, Q. David Bowers and Doug Winter estimate that 24 to 30 examples have survived to the present day. More modern research by John W. Dannreuther (2018) is also more conservative with regard to this issue; the author states that only 18 to 22 pieces are known. In either case, a fair number of the survivors are impaired from having been placed into circulation by earlier generations of collectors. While it may be difficult to imagine such a scenario in the rare coin market of the 21st century, during the final decades of the 19th century the numismatic value of Proofs such as this was not much more than face value. Consequently, even an attractive and solidly graded Gem for any Proof three-dollar gold issue of the era is a very rare coin that would serve as a highlight in an advanced collection.<p>Moving beyond the Proof-66 grade level, the three-dollar gold series enters a realm defined by virtual perfection and extreme condition rarity. The current online version of the <em>PCGS Population Report</em> records only 17 grading events at the Proof-67 level for this type as a whole, and across all three categories: non-Cameo, Cameo, and Deep Cameo. At PCGS Proof-67+ the total dwindles to just seven grading events. The corresponding grading events listed on the <em>NGC Census</em> are 33 and two, respectively. These exceptional rarities are surpassed by only two coins as the absolute finest that U.S. numismatics has to offer for the Proof three-dollar series. The first is a grading event for the 1884 that the <em>NGC Census</em> reports at Proof-68 Cameo. The specific coin associated with this listing is unknown to your cataloger (JLA) - it does not appear to have ever sold at auction in this holder - but a likely candidate is the Heritage 8/2007:1886 coin that went unsold in that sale as NGC Proof-67 * Ultra Cameo. Since NGC no longer lists a grading event for the 1884 in either Proof-67 Ultra Cameo or Proof-67 * Ultra Cameo, that coin may have crossed to PCGS at the Proof-67 numeric grade level, or been upgraded to NGC Proof-68 Cameo.<p>We now come to what in your cataloger's opinion is the pinnacle of quality and eye appeal for the Proof three-dollar gold series: the Floyd T. Starr Proof 1880. Preserved with the utmost care since the time of striking, it is an undeniable Ultra Gem. When we further consider that the 1880 is a rarer and more difficult Proof to locate than the 1884 (the circulation strike mintages for both dates are identical at 1,000 pieces), this Proof 1880 is clearly the more desirable coin. Type collectors who are unwilling to compromise on quality, three-dollar gold enthusiasts striving to assemble the finest set possible for this series, and advanced numismatists with an eye for exquisite classic U.S. Mint Proof gold will all compete vigorously for the honor of securing this prize.