LOT Old Heritage Auctions  /  2008 MAR Phoenix (ANA) Signature Coin Auction #1...  / 

1448

1889 $3 PR65 Deep Cameo NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1889 $3 PR65 Deep Cameo NGC
<B>1889 $3 PR65 Ultra Cameo NGC.</B></I> The novelty of the three dollar gold piece is undeniable. It was created as a convenience to facilitate the purchase of a sheet of three cent stamps. That reason, of course, saw limited usefulness; nevertheless, the denomination lasted for 35 years, ending in 1889. The three dollar gold piece was a curiosity even during this period. It was an odd denomination, few were struck, and even fewer circulated. The denomination ended with the same law that eliminated the gold dollar. The decade of the 1880s had negligible numbers produced of the three dollar denomination. Quantities ranged from a low of 554 in 1881 to 6,160 in 1887. The final year of production had a run of only 2,500 pieces for circulation. Proof examples have always been highly collectible and desirable, regardless of date. In 1889 there were 129 proofs struck, and one can deduce from the striking periods that they must have all been sold. In addition to the two strikings in June, September, and October, there were also 16 pieces struck in December; indicating that previous stocks had been sold and there was demand for additional proofs. <BR> The mintage of proof 1889 threes would indicate it should be one of the more available proofs from the decade of the 1880s. However, just the opposite is true. Only 85 to 95 examples are believed known today. As an Ultra Cameo, this is the finest (and only) piece certified by NGC. Only five coins have been graded finer, all PR66 Cameo pieces. PCGS has graded one piece equal to this Ultra Cameo, and one higher, a PR66. As Cameo and non-Cameo coins, only five coins have been certified finer (1/08). <BR> As with all proof 1889 threes, the 1 in the date is right of the center of the right side of the O in DOLLARS. Also, the leaf to the left of the date is complete, unlike on circulation strikes. The fields on each side show pronounced orange-peel texture, commonly seen on proof gold from this decade. The devices are noticeably frosted and stand in stark contrast to the unfathomable depth of reflectivity seen in the fields. The only (faintly) noticeable contact marks are a couple of very shallow ones located in the reverse field on each side of the 3 in the denomination.<BR><I>From The Ultra Collection.</B></I><BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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