1856-S Three-Dollar Gold Piece. Medium S. AU Details--Cleaned (PCGS).

A sharply struck example with a curiously bright, semi-reflective appearance that helps to explain the PCGS qualifier. Both sides, however, have retoned in mottled reddish-rose that enhances the eye appeal. The second year of issue for the denomination at San Francisco and the third year of issue for the entire series, the 1856-S three-dollar gold piece has the highest mintage for the California branch mint at 34,500 coins, a modest quantity by any measure. In the early years of the San Francisco Mint, gold coins were ushered into commercial use almost immediately and remained there for years. Even though the denomination ultimately proved unpopular, the early three-dollar gold pieces saw extensive circulation in the West where there was an acute shortage of coins. Three mintmark size varieties are known with the Medium S variety, as here, the most available. Almost all of the surviving examples are in the middle circulated grade levels, seldom any finer than Extremely Fine, testimony to their time spent in the Western economy. The present AU is a conditionally scarce survivor despite the aforementioned PCGS qualifier, and it is sure to appeal to astute gold collectors.

PCGS# 7975. NGC ID: 25M9.