1870 $3 Gold PCGS AU55

Introduction

The 1870 $3 Gold Piece is a prized rarity among 19th-century United States gold issues. Graded AU55 by PCGS, this example retains much of its original mint luster with light wear confined to the highest design points. The coin exhibits exceptional eye appeal, making it a standout for collectors who value both historical importance and aesthetic quality. The $3 denomination holds a special place in U.S. coinage history due to its limited mintage and unusual purpose.

History

Authorized under the Act of February 21, 1853, the $3 Gold Piece was introduced to simplify transactions involving postage stamps and was part of the U.S. Mint’s broader effort to diversify its gold denominations. By 1870, demand for the coin was already fading, and mintages were sharply reduced. The Philadelphia Mint struck only 3,500 business strikes that year, making this issue one of the scarcer entries in the series.

The denomination itself never achieved wide circulation, and most coins were set aside by banks or later melted, adding to its rarity today. Surviving examples from 1870 are cherished for their connection to the Reconstruction-era economy and for representing one of the most intriguing experiments in U.S. monetary history.

Design

Designed by Chief Engraver James B. Longacre, the 1870 $3 Gold Piece showcases a portrait of Liberty wearing a feathered headdress on the obverse, a design inspired by the classical beauty of the Indian Princess motif. The reverse features a wreath composed of corn, cotton, wheat, and tobacco, surrounding the denomination and date.

In AU55 condition, this coin retains sharp definition in Liberty’s headdress and the wreath’s intricate detailing, complemented by attractive remaining luster. The 1870 $3 Gold PCGS AU55 represents a fine example of early American engraving and an enduring symbol of the artistry of U.S. gold coinage.