1858 $3, CAM PR(PCGS#88021)

November 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3116

Grade

PR65CAM

Price

132,000

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><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 August 2025, which had been off the market since 1942, brought 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 coin follows not only our offering of the Floyd T. Starr specimen, but also our August 2025 offering of the Trompeter specimen. It is a stunning Gem Cameo Proof that also ranks among the very finest of fewer than 15 Proof 1858 three-dollar gold pieces known. Exquisite surfaces are bathed in warm orange-gold color with subtle hints of pinkish-rose evident as the coin rotates under a light. Fully impressed and satiny, the design elements contrast nicely with reflective fields, the latter also with a subtle orange peel texture discernible under magnification. Carefully preserved with an elegant appearance, this is a beautiful coin and exceptional rarity that will confirm the significance of any cabinet in which it is included.