1878 Three-Dollar Gold Piece. MS-66 (PCGS). CMQ.

A remarkable second offering for this issue in premium Gem Mint State preservation as certified by PCGS. Bathed in richly original golden-orange color, both sides also exhibit bountiful mint luster in a softly frosted texture. Sharp and inviting with exceptionally smooth surfaces. At 82,304 pieces the mintage of the 1878 three-dollar gold piece is the second highest for the type after 1854. Except for this and the similarly aberrant 1874 (41,800 pieces struck), the highest mintage three-dollar gold issue from the later years of this series is the 1887 - with just 6,000 circulation strikes produced. Rather than being released into commerce, however, most of the 1878 three-dollar gold pieces remained in the Mint and were eventually melted. On the other hand, enough were paid out to banks which eventually sold them at a premium, such that the 1878 now ranks as the most plentiful issue of its denomination in all grades. The term "plentiful" is relative, however, for the three-dollar gold piece as a type is scarce in an absolute sense, very scarce in lower Mint State grades, and rare at and above the Choice level. The 1878 emerges as a major condition rarity in the finest grades. With the legion of high quality gold type collectors in today's hobby, we expect this impressive Gem to sell for a strong bid.

PCGS# 8000. NGC ID: 25MZ.

Estimate: $16000