Production Three-dollar piece

off-metal strike in silver of 1867 three-dollar piece

beginning in 1855, letters of word dollars enlarged, following complaints public. same year, coinage began @ san francisco mint, 6,600 were struck opposed 50,555 at philadelphia. mintages @ philadelphia declined remainder of decade, 7,036 by 1860; pieces struck @ san francisco in 1856, 1857, , 1860. in 1859, numismatic writer montroville w. dickeson wrote of three-dollar piece, unpopular, being mistaken quarter eagle, , counted five-dollar piece. exceedingly annoying portion of human family vision dependent on artificial aid, , think retirement meet public approbation. perhaps dozen contemporary numismatists collected three-dollar pieces; serious ordered proof coins mint. coins in condition became easier obtain philadelphia officials responded rise in interest in coin collecting followed introduction of flying eagle cent in 1857.

the coins saw circulation in east , midwest, @ least until 1861, when economic turmoil caused american civil war caused gold , silver vanish commerce there. gold being hoarded, in december 1861, banks, , subsequently treasury, ceased pay out gold @ face value. three-dollar piece never return circulation in eastern part of country. on west coast, gold , silver remained in use, coin continued in commerce, , might encountered. san francisco mint issues commonly seen there. despite failure circulate, three-dollar pieces continued struck @ philadelphia policy of mint director james pollock each denomination should struck every year, whether circulated or not. philadelphia mint pieces migrated west in payment transactions, gold , silver acceptable money on west coast. until resumption of specie payments @ end of 1878, gold pieces available philadelphia mint paying premium in banknotes. pieces not sold stored there.

the 1870-s three-dollar piece

in 1870, set of dies three-dollar piece sent bureau of mint s engraving department @ philadelphia mint san francisco. on may 14, 1870, oscar hugh la grange, superintendent of san francisco mint, sent telegram mint director pollock, informing him dies one- , three-dollar pieces had been received, lacked customary s mint mark, , asking guidance. dies were, per pollock s instructions, returned philadelphia, lagrange informed pollock secure three-dollar piece place in cornerstone of new san francisco mint building, coiner j.b. harmistead had engraved s on reverse die. not became of piece placed in cornerstone, harmistead struck piece himself, mounted jewelry @ 1 time, , existence of not known until 1907. unique regular-issue u.s. gold piece date , mint mark, last came on market in 1982, when sold $687,500. today forms part of harry w. bass, jr. collection in money museum of american numismatic association in colorado springs. no other three-dollar pieces struck @ san francisco in 1870; dies sent there years between 1861 , 1873, but, exception of 1870, not used.

on january 18, 1873, philadelphia mint chief coiner archibald loudon snowden complained 3 in date, struck mint, closely resembled 8 , on smaller-sized denominations. in response, pollock ordered chief engraver william barber re-engrave date, opening arms of 3 wider on denominations, including three-dollar piece. both closed 3 , open 3 varieties extremely rare, though official mintage of 25 pieces 1873 understated, since more specimens known exist. in 1875 , 1876, no pieces struck circulation, pieces in proof condition being made available collectors. official mintage 20 for 1875 , 45 for 1876, though unknown number of pieces may have been later illicitly restruck each date. numismatic writer r.w. julian believes there no later restrikes, proof pieces not counted until sold, employees substituted common-date pieces when unsold coins melted. these pieces had been made available public part of proof set of gold denominations, @ price of $43 (a premium of $1.50 on face value). julian suggests relatively large mintages of 42,000 in 1874 , 82,000 in 1878 struck in anticipation of resumption of specie payments, when occurred @ end of 1878, there loud yawn public , mint kept of pieces on hand, paying them out stocking stuffers.

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